Pass warfare is brewing.
KSL Capital Partners and Henry Crown and Co. (owner of Aspen Skiing Co.) completed the acquisition of Intrawest Resort Holdings Inc. and Mammoth Resorts. The deal unites Colorado’s Steamboat Ski Resort, Aspen and Winter Park Resort with 10 other resorts across North America, including California’s Squaw Valley.
The new company will keep the Rocky Mountain Super Pass Plus and the Mountain Collective ski pass options for the upcoming 2017-2018 ski season. But it expects to launch a new brand that could include a unified pass option to rival Vail’s Epic Pass, according to a press release.
Denver-based private equity fund KSL Capital Partners recently raised $283 million, according to an SEC Form D filed July 21. KSL declined to comment.
KSL’s Bryan Traficanti recently was named interim CEO while the ski mountain operator searches for a new head.
Stockholders will get $23.75 per share of Intrawest, which is no longer trading on the New York Stock Exchange. Its total valuation was $1.5 billion, according to the press release.