Craig’s Cruisers Inc., an operator of family amusement centers in West Michigan, has sold its locations in Wyoming, Holland Township and Norton Shores to private equity-backed Five Star Parks & Attractions of Branson, Mo.
The deal did not include the Craig’s Cruisers location in Silver Lake.
Backed by Denver-based Fruition Partners LLC, Five Star Parks & Attractions has been pursuing opportunities in what it terms the “family entertainment center” business. Five Star seeks out successful companies that are looking to grow or improve their business through additional financial backing.
Founded in 1979 in Silver Lake, Craig’s Cruisers offers a range of attractions including go-karts, bumper boats, mini golf, laser tag and zip lines. According to a statement, the company was looking for the next step to grow the brand.
“Five Star brings a whole team of experienced professionals from the industry,” Craig’s Cruisers CEO Jeff Gebhart said in a statement. “They have an appetite for growth, and we’re very excited to see what’s next for Craig’s Cruisers.”
Terms of the deal were not disclosed.
With the addition of Craig’s Cruisers, Five Star now operates 19 locations in nine states, including Missouri, Kentucky, Tennessee, Florida, Louisiana, North Carolina, Oklahoma and Texas.
The company looks to “evolve” the Craig’s Cruisers locations and build on the company’s more than four-decade legacy in West Michigan, according to a statement.
“We’re big fans of the Craig’s Cruisers parks and have always been impressed by the quality of their entertainment offering, which we consider best in class,” Five Star CEO John Dunlap said in a statement. “They have a tremendous leadership team with decades of experience in the family entertainment industry, and their focus on clean, safe fun is in perfect alignment with the mission of our company.”