August 25, 2015
New York, NY and Ocean City, Md. -- Young America Capital ( www.yacapital.com ) announced today the sale of Frontier Town, the Wild West-styled campground and theme park outside of Ocean City, Maryland to Sun Communities, one of the largest owners of manufactured housing communities and recreational vehicle resorts in the United States. Fort Whaley Campground, located in nearby Whaleyville, MD was also part of the transaction. Young America Capital served as the exclusive advisor to Parkel Corporation ("the company") who owns and operates both properties. The transaction resulted in an attractive valuation for the company's shareholders.
Frontier Town, a 200-acre resort, was opened in 1959 capitalizing on the popularity of hit TV shows such as Gunsmoke and Bonanza. Fort Whaley, a 600-site campground opened in 1963 and was acquired by Parkel in 1999. "The acquisition of Frontier Town and Fort Whaley Campgrounds by Sun Communities is a particularly good fit. The properties add to Sun Communities' Maryland portfolio and seize upon an attractive market opportunity for both the buyer and seller. Sun Communities clearly understood the appropriate value for the properties held by Parkel and gave the seller the comfort of knowing that they would maintain the quality of experience long time customers came to expect for over 50 years," said Stanley Tobin, Senior Director of Investment Banking at Young America Capital, who managed the transaction.
About Young America Capital, LLC
Founded in 2000, Young America Capital is a New York-based FINRA/SEC/MSRB licensed independent investment banking and advisory firm which provides capital raising, M&A advisory and fund marketing services for companies and alternative investment fund managers. The company is comprised of a diverse group of investment banking professionals with particularly deep sector experience in Consumer & Retail, Maritime & Infrastructure, Cleantech, Telecomm, Media and Technology; Healthcare & Life Sciences; Real Estate, and Latin America. www.yacapital.com