Class VI Partners (“Class VI”) is pleased to announce the partnership of Sports Facilities Companies, LLC (“SFC” or the “Company”) with Stonehenge Partners, Inc. (“Stonehenge”). The relationship will fuel the Company’s expansion and service to communities across the country.
Founded in 2003, SFC has planned, consulted, and continues to operate many of today’s most notable sports tourism and recreation destinations, hosting more than 25 million annual visits in SFC-affiliated venues. The sports, recreation, and tourism industry is experiencing explosive growth: youth and amateur sports tourism, currently a $39.7 billion industry (Sports Events and Tourism Association 2021 Report), is predicted to reach $77.5 billion in 2026 worldwide (Evergreen Research Report 2020).
“SFC is an amazing story of perseverance, innovation, and entrepreneurship that will be a terrific platform investment for Stonehenge. We are excited for Jason, Dev, and the entire SFC team as they continue their growth and reach more communities and families through youth and amateur sports,” said Zack Gibson, Director for Class VI.
“We are very fortunate to have worked with Jason, Dev, and the SFC team throughout this process. They are talented entrepreneurs and thought leaders who have built a truly world-class organization. We are excited about SFC’s next chapter of growth and continued success with Stonehenge,” said Peter Bessone, Senior Associate for Class VI.
“In sports, championship-winning teams play to their strengths. With Class VI, we added MVP-caliber talent combined with a work ethic and heart for service that fit our culture and situation perfectly. Class VI not only possess the expertise to guide the process, but their brilliance was knowing when to lead and when to follow. They took very little time to understand the uniqueness of our industry, market factors, and trends, which ultimately led to the best possible outcome for us. We are poised for the next generation of growth and service and will be better in every measurable way as a result of our Class VI relationship. We are incredibly grateful to the entire Class VI Team,” said Jason Clement, co-founder of SFC.
Dev Pathik, SFC co-founder, added, “With Class VI at our side we have achieved tremendous outcomes for SFC ownership, our management team, clients, and partners. Under the guidance of the Class VI team and their highly collaborative process we are now poised to continue our rapid expansion as we improve the health and economic vitality of the communities we serve across the U.S.”
SFC supplies outsourced management and development services for community sport, recreation, wellness, and event facilities. The full-service solutions provided to community leaders, municipalities, convention and visitors bureaus, and developers consist of master planning, program planning, feasibility, development oversight, construction management, and professional management services. The SF Network comprises more than 30 managed venues and 1,500 team members serving more than 25 million annual guests while producing over $250 million in economic impact each year.
Commenting on the future of the partnership, Clement, SFC CEO, stated, “We are obsessed with serving communities and families. This partnership allows us to invest in our client and customer experiences in new and different ways. We are focused on the technology, talent, and tools to expand our full-service solution for developing and operating the nation’s highest-performing sports and recreation complexes.”
“This is the ideal time to take on a capital partner who shares our vision for improving communities,” added Pathik. “The Stonehenge model provides the right balance of mission alignment with the current SFC executive team maintaining its significant ownership stake and continuing to lead the companies’ expanding service offerings.”
Andrew Bohutinsky, Stonehenge Managing Partner, commented, “The Stonehenge team is thrilled to partner with SFC. We view the firm’s focus on long-term client relationships, consistent growth, talent, market position, and end-to-end solutions as huge advantages in the highly fragmented sports tourism and recreation marketplace.”
The youth and amateur sports marketplace has been on a steep rise since the early 2000s, with a notable spike in growth in the travel and tourism space since 2014. As municipalities seek solutions in their parks and recreation budgets, invest in travel sports destinations, and compete to be cities of choice for quality of life, SFC is poised to provide the best service and resources. SFC currently operates a growing list of sports tourism, community recreation, wellness, and events properties across 17 states and hosts more than 25 million visits annually.
Chief Executive of the Sports and Fitness Industry Association Tom Cove said of the announcement, “The SFC team has played a significant and positive role in the youth and amateur sports landscape. Their growth and this partnership are testaments to their commitment to excellence. This is great news for the industry and the communities in which SFC serves.”
SFC has served more than 2,000 communities since its founding and currently operates 40 properties on behalf of municipalities, real estate developers, and private clients, including locations in Myrtle Beach, SC; Gatlinburg, TN; Hoover, AL; Sandusky, OH; Panama City Beach, FL; and notable new developments in Fort Bend, TX, and Starkville, MS. The SFC team comprises more than 1,500 team members in 17 states.
Stonehenge is an Ohio-based private equity firm serving the middle market. Founded in 1999, Stonehenge has a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. Stonehenge provides flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. Stonehenge has raised $1.4 billion of committed capital and is currently investing out of its sixth institutional fund.
The transaction closed on September 9th, 2022. Davis Graham & Stubbs LLP served as legal counsel to SFC, and Benesch Friedlander Coplan & Aronoff LLP served as legal counsel to Stonehenge.
For more information about the transaction, please contact Peter Bessone at (303) 243-5606 or pbessone@classvipartners.com, and Riley Bell at (303) 243-5609 or rbell@classvipartners.com.
The testimonials contained in this press release may not be representative of the experience of other clients and are no guarantee of future performance or success.
Founded in 2003, SFC has planned, consulted, and continues to operate many of today’s most notable sports tourism and recreation destinations, hosting more than 25 million annual visits in SFC-affiliated venues. The sports, recreation, and tourism industry is experiencing explosive growth: youth and amateur sports tourism, currently a $39.7 billion industry (Sports Events and Tourism Association 2021 Report), is predicted to reach $77.5 billion in 2026 worldwide (Evergreen Research Report 2020).
“SFC is an amazing story of perseverance, innovation, and entrepreneurship that will be a terrific platform investment for Stonehenge. We are excited for Jason, Dev, and the entire SFC team as they continue their growth and reach more communities and families through youth and amateur sports,” said Zack Gibson, Director for Class VI.
“We are very fortunate to have worked with Jason, Dev, and the SFC team throughout this process. They are talented entrepreneurs and thought leaders who have built a truly world-class organization. We are excited about SFC’s next chapter of growth and continued success with Stonehenge,” said Peter Bessone, Senior Associate for Class VI.
“In sports, championship-winning teams play to their strengths. With Class VI, we added MVP-caliber talent combined with a work ethic and heart for service that fit our culture and situation perfectly. Class VI not only possess the expertise to guide the process, but their brilliance was knowing when to lead and when to follow. They took very little time to understand the uniqueness of our industry, market factors, and trends, which ultimately led to the best possible outcome for us. We are poised for the next generation of growth and service and will be better in every measurable way as a result of our Class VI relationship. We are incredibly grateful to the entire Class VI Team,” said Jason Clement, co-founder of SFC.
Dev Pathik, SFC co-founder, added, “With Class VI at our side we have achieved tremendous outcomes for SFC ownership, our management team, clients, and partners. Under the guidance of the Class VI team and their highly collaborative process we are now poised to continue our rapid expansion as we improve the health and economic vitality of the communities we serve across the U.S.”
SFC supplies outsourced management and development services for community sport, recreation, wellness, and event facilities. The full-service solutions provided to community leaders, municipalities, convention and visitors bureaus, and developers consist of master planning, program planning, feasibility, development oversight, construction management, and professional management services. The SF Network comprises more than 30 managed venues and 1,500 team members serving more than 25 million annual guests while producing over $250 million in economic impact each year.
Commenting on the future of the partnership, Clement, SFC CEO, stated, “We are obsessed with serving communities and families. This partnership allows us to invest in our client and customer experiences in new and different ways. We are focused on the technology, talent, and tools to expand our full-service solution for developing and operating the nation’s highest-performing sports and recreation complexes.”
“This is the ideal time to take on a capital partner who shares our vision for improving communities,” added Pathik. “The Stonehenge model provides the right balance of mission alignment with the current SFC executive team maintaining its significant ownership stake and continuing to lead the companies’ expanding service offerings.”
Andrew Bohutinsky, Stonehenge Managing Partner, commented, “The Stonehenge team is thrilled to partner with SFC. We view the firm’s focus on long-term client relationships, consistent growth, talent, market position, and end-to-end solutions as huge advantages in the highly fragmented sports tourism and recreation marketplace.”
The youth and amateur sports marketplace has been on a steep rise since the early 2000s, with a notable spike in growth in the travel and tourism space since 2014. As municipalities seek solutions in their parks and recreation budgets, invest in travel sports destinations, and compete to be cities of choice for quality of life, SFC is poised to provide the best service and resources. SFC currently operates a growing list of sports tourism, community recreation, wellness, and events properties across 17 states and hosts more than 25 million visits annually.
Chief Executive of the Sports and Fitness Industry Association Tom Cove said of the announcement, “The SFC team has played a significant and positive role in the youth and amateur sports landscape. Their growth and this partnership are testaments to their commitment to excellence. This is great news for the industry and the communities in which SFC serves.”
SFC has served more than 2,000 communities since its founding and currently operates 40 properties on behalf of municipalities, real estate developers, and private clients, including locations in Myrtle Beach, SC; Gatlinburg, TN; Hoover, AL; Sandusky, OH; Panama City Beach, FL; and notable new developments in Fort Bend, TX, and Starkville, MS. The SFC team comprises more than 1,500 team members in 17 states.
Stonehenge is an Ohio-based private equity firm serving the middle market. Founded in 1999, Stonehenge has a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. Stonehenge provides flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. Stonehenge has raised $1.4 billion of committed capital and is currently investing out of its sixth institutional fund.
The transaction closed on September 9th, 2022. Davis Graham & Stubbs LLP served as legal counsel to SFC, and Benesch Friedlander Coplan & Aronoff LLP served as legal counsel to Stonehenge.
For more information about the transaction, please contact Peter Bessone at (303) 243-5606 or pbessone@classvipartners.com, and Riley Bell at (303) 243-5609 or rbell@classvipartners.com.
About Class VI Partners
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.The testimonials contained in this press release may not be representative of the experience of other clients and are no guarantee of future performance or success.