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Wilmington,
NC – September 2024 / NewsmakerAlert: Tailwind
Hospitality, Inc. (dba “Tailwind Concessions” or “Tailwind”), headquartered
in Wilmington, North Carolina, announce the acquisition of Oakwells, a
Winter Park, Florida-based regional airport and train station concessionaire,
as well as the acquisition of four food and beverage concessions at Phoenix-Mesa
Gateway Airport from Kind Hospitality.
Oakwells,
founded in 2004, currently operates retail and grab n’ go concessions,
as well as full-service bars and restaurants, in twelve airports and one
train station across the country providing superior service and quality
offerings to its airport customers and their respective passengers.
“We
welcome Oakwells, along with its impressive team and operations, to the
Tailwind family,” stated Jeff
Switzer, CEO of Tailwind. Switzer added, “We are excited to partner
with Mike Reilly, founder
and CEO of Oakwells, who will also join the Tailwind team post-close along
with his over 100 employees, to ensure a successful combination of the
businesses and continue to provide best-in-class service and responsiveness
to our airport partners.”
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Mike
Reilly added, “We have long competed with Tailwind in the airport market,
and it was great working with the Tailwind team to get this transaction
done. We’re confident that our employees and airport partners will mesh
with Tailwind’s strong customer-first culture to ensure the continued growth
of the combined business.”
Tailwind
also closed its acquisition of a majority stake in four food and beverage
concessions at the Phoenix-Mesa Gateway airport previously owned by Kind
Hospitality and its founder Nava Thursaisingam. The acquisition includes
four food and beverage revenue centers, including concepts with local breweries
and restaurants. Jeff Switzer stated, “We view this more as a partnership,
not an acquisition, with Nava and his impressive team and look forward
to partnering together on other airport opportunities in the future.”
In
November 2021, Palladin Consumer Retail
Partners partnered with Tailwind and its existing management team to
recapitalize the Company and acquire a smaller competitor, Air Host, creating
a leading airport concession platform focused on small and mid-sized airports
throughout the United States. Since the investment, Tailwind has more than
doubled its footprint while further building out its offering of nationally
known brands and local concepts, and now operates over 160 concessions
in nearly 60 airports across the continental United States and Alaska.
About
Tailwind Hospitality (Tailwind Concessions)
Founded
in 2004 and based in Wilmington, North Carolina, Tailwind
Hospitality, LLC (“Tailwind” or the “Company”) is a leading airport
concessionaire specializing in operating full-service restaurants, bars,
retail and gift shops predominantly in non-hub, primary and regional airports
located throughout the United States. The Company currently has or will
be beginning operations at nearly 60 airports comprising of over 160 revenue
centers and, in the majority of locations, is the sole and exclusive concessionaire
serving a captive audience with minimal to no alternatives. Tailwind has
focused on developing unique, location-specific venues at each of its airports,
adapting to local culture, tastes and needs, rather than implementing a
single generic brand. Tailwind’s primary focus on the regional airport
market combined with a highly variable cost structure allow the Company
to remain profitable during a variety of passenger traffic levels. Visit
www.TailwindConcessions.com
for more information.
About
Palladin Consumer Retail Partners (PCRP)
Palladin
Consumer Retail Partners (“PCRP” or “Palladin”) is a Boston-based private
investment firm, founded in 1998, that focuses primarily on the retail
and consumer products sectors in North America and Europe. Our team has
a strong investment and operating track record; the Principals of PCRP
have invested in, financed, or managed over 100 public and private retail
and consumer products companies. We pride ourselves on working closely
with management teams to create value through strategic and operational
initiatives. PCRP strives to provide its portfolio companies with the advantages
of a strategic partner and the operating flexibility and incentives of
a financial investor. Current and former investments include M@C Discount,
Southeast Mechanical, Tailwind Concessions, Leapfrog Brands, Decowraps,
PB Metro, Splash Car Wash, KT Tape, Nic+Zoe, InMotion Entertainment, J.
McLaughlin, Things Remembered, Restoration Hardware, Spencer Gifts, Jamba
Juice, Worldlynx, Multi-Flow, and Kwik-Tek. Visit www.PCRP.com
for more information.
Media
Contact:
Tailwind
Hospitality
Jeff
Switzer, CEO
720-891-7031
LinkedIn
Palladin
Consumer Retail Partners
Patricia
Donnelly
617-585-3800
LinkedIn |
