Urban Air Adventure Park (“Urban Air”), a leading operator and franchisor of active family entertainment centers, today announced a strategic investment from MPK Equity Partners (“MPK”) and AHR Growth Partners (“AHR”). The investment is being made in partnership with Urban Air’s co-founder and CEO Michael Browning, Jr., his management team, and other existing owners.
FOR IMMEDIATE RELEASE / PRURGENT
GRAPEVINE, TEXAS (March 9 , 2018) – Urban Air offers active entertainment and special event experiences for families and organizations. The company’s indoor adventure parks have numerous patented and proprietary attractions, including climbing walls, obstacle / ninja warrior courses, trampolines, zip line coasters, virtual reality experiences, indoor go karts and indoor skydiving. The Texas-based company has experienced strong growth since it was founded in 2011—it currently has over 45 locations nationwide and is on track to more than double its footprint by the end of 2018.
“This is an incredibly exciting time at Urban Air as we expand our footprint nationally and internationally and as we continue enhancing our attraction offerings,” said Michael Browning, Jr. “Partnering with MPK and AHR allows us to continue on this path while also supporting our fantastic, growing franchisee base. We are excited to begin this partnership which will undoubtedly allow us to better serve our customers and realize our shared vision of success across our network.”
“Urban Air has developed a unique and highly innovative brand within the active family entertainment space with a highly capable group of dedicated franchisees,” said Doug Kennealey, Managing Partner of MPK Equity Partners. “Michael Browning, Jr. and his team have built a superb company and brand, and we’re excited to help them continue their rapid expansion plans and take Urban Air to the next level.”
“We’re thrilled to partner with Michael and the entire Urban Air team to continue building out the most exciting family entertainment concept in the industry,” said John Bahr, a Managing Partner of AHR. “Not only are we investing behind a superb management team, but we are also backing a market-leading business with a differentiated offering in a growing and dynamic industry.”
The new funding will support the continued nationwide expansion of the Urban Air brand. As part of the investment, Doug Kennealey from MPK and John Bahr from AHR will join the Urban Air board. The current Urban Air management team will remain in place following the transaction. Additional details of the investment were not made public.
About Urban Air
Founded in 2011 by Michael Browning, Jr. and Michael Browning, Sr., and with more than 45 units spanning over 20 states in the U.S., Urban Air is one of the largest operators and franchisors of indoor adventure parks offering active entertainment for families and organizations. For more information, visit www.urbanairadventurepark.com or check out Urban Air on Facebook and Instagram.
About MPK Equity Partners
MPK Equity Partners is a Dallas, Texas-based private investment firm which takes a targeted, thematic approach to partnering with exceptional entrepreneurs and executives to invest in growing, profitable companies in the consumer, tech-enabled business services, energy, education, healthcare, and specialty distribution / manufacturing sectors. MPK's patient and flexible approach allows for control, non-control, and growth equity investments across the United States and, unlike a traditional private equity fund, is not impacted by the interests of institutional funding sources. The MPK team has a long history working together, and the firm looks to harness this collective experience to partner with entrepreneurs and management teams as they grow their unique businesses. To learn more about MPK, visit www.mpkequitypartners.com.
About AHR Growth Partners
AHR Growth Partners invests in and advises emerging consumer brands. The firm targets growing lifestyle brands that have demonstrated proof of concept but may be too early for traditional private equity. AHR’s proprietary network has deep experience in both minority and control situations. Since AHR’s founding in 2014, it has closed twelve transactions including four as equity sponsor and eight as investment banker.