DAYTONA BEACH, Fla.--(BUSINESS WIRE)--Under a lease approved on August 20 by the Volusia County Council, a subsidiary of United Parks, one of the nation’s leading amusement park operators, will become the new owner and operator of Daytona Lagoon, the premiere water park in Daytona Beach, Florida.
In connection with the acquisition, United Parks has committed to investing over $2 million in improvements at Daytona Lagoon over the next two years, with upgrades to include an overall facelift, a new attraction, a broader food selection, and improved amenities for park visitors. The revitalization of Daytona Lagoon will be overseen by Jack Falfas, CEO of United Parks, which operates Hydro Adventures in Poplar Bluff, Missouri and the historic Rye Playland in Westchester County, New York.
“We are thrilled to welcome Daytona Lagoon to the United Parks family,” said Falfas, a renowned amusement park operator with over 40 years of experience in the industry. “We believe the park has enormous potential, and we cannot wait to bring our experience and passion to Daytona Beach. The County has been a wonderful partner in this transaction, and we look forward to making Daytona Lagoon a must-visit destination for families for years to come.”
“The resources and operational experience of United Parks will be tremendously beneficial in reenergizing Daytona Lagoon, making it an even more attractive family-friendly destination,” said Jim Dinneen, County Manager of Volusia County.
United Parks purchased the water park from DBWP, LLC through its subsidiary, Daytona Lagoon, LLC. The acquisition is expected to close on September 30, 2015.
“We are very happy to be handing Daytona Lagoon off to the United Parks team, knowing that the park is in fine hands, and that its future is brighter than ever,” said Stan Manousos of DBWP, LLC.
About United Parks
United Parks is focused on opportunities in the amusement park, water park, and entertainment industries. CEO Jack Falfas leads a senior management team that brings more than 100 years of operating experience. United Parks is an indirect subsidiary of Purchase Capital, an investment firm led by Nicholas J. Singer that provides patient capital for private and public companies with significant potential for long-term value creation.