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Apex Parks Buys in NY

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

Apex has been buying older, well-located parks and renovating them. It bought Indiana Beach Boardwalk Resort in September, a 90-year-old lakefront property on 376 acres, and rehabbed rides and added a roller coaster for this summer’s season.

The new acquisition is 55 years old and has about 25 rides and seven water features near Niagara Falls. It marks Apex’s entry into New York State.

“You look at sites and there are pretty similar filters,” said Al Weber, Chief Executive of Apex. “But the truth is we also spend time to understand the nuance of the individual brand in the marketplace.”

Weber characterized Fantasy Island as a “great value … family park [on] a scale that works really well.”

Apex now owns and runs 17 family entertainment centers,plus water and theme parks, in six states. Most are in California, and most are Boomers family entertainment centers, including in Irvine and Fountain Valley.

The company formed in November 2014 with backing by New York private equity firm Broad Sky Partners and Edgewater Funds in Chicago and bought 15 properties from Newport Beach-based Palace Entertainment Holdings LLC.

It closed one family entertainment center, the 37-year-old Malibu Grand Prix & Castle in San Antonio, in September.

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