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KSL Capital Acquires 24 Percent Of Whistler Blackcomb Holdings

Whistler Blackcomb Nov. '12

KSL affiliate KSL Capital Partners has acquired 24 percent of Whistler Blackcomb Holdings Inc. by purchasing 9,092,500 common shares of the corporation for $12.75 each. 


KSL is a private equity firm “dedicated to investments in travel and leisure businesses.” The purchase also shook up the management staff and board of directors.


Bill Jensen has tendered his resignation as a director and CEO and Wes Edens and Jonathan Ashley resigned as director. Dave Brownlie, the corporation’s current president has been appointed president and CEO and a director. Eric Resnick and Peter McDermott, both of KSL, will fill the directors’ vacancies. Jensen remains CEO of Intrawest.


“KSL is delighted to be acquiring 24 percent interest in a world class ski area,” Resnick, KSL’s co-founder and managing director, said. “Whistler Blackcomb is the largest and most visited resort in North America and we feel it compliments our portfolio of premier travel and leisure properties.”


KSL said it plans to hold the purchased shares for investment purposes, but may acquire additional shares from time to time.


What It Means: The consumer could gain by KSL’s leveraging their ownership of Squaw Valley http://www.snocountry.com/resort-page/ca/squawvalley and Alpine Meadows http://www.snocountry.com/resort-page/ca/alpinemeadows with their partial ownership of Whistler Blackcomb and offering season pass deals for those three resorts, a la the Vail Epic Pass. 


Photo: Whistler Blackcomb Nov. 2012 (Mitch Winton/coastphoto.com) 


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