A private equity firm has bought the company that operates Pacific Park on the Santa Monica Pier.
SC Holdings has acquired Santa Monica Amusements LLC, the operator of the free-admission amusement park on the city-owned pier. The price was not disclosed, but SC said in its press release that it plans to invest $10 million into the park over the next five years.
"We're honored to support the Park's growth through investments into its programs and operations," SC Partner Adrian Williams said. "The Pier and Park are such iconic parts of Southern California's coastline, and we want to make sure they stay a welcoming place where visitors and locals can come have fun and relax."
Pacific Park Vice President and General Manager Jeff Klocke and his team will continue to manage operations at Pacific Park. SC also will maintain a Pacific Park Advisory Board that will include Tivoli Gardens CEO Lars Liebst and former Shake Shack CEO David Swinghamer.
"Having SC as owners and investors in Pacific Park is a milestone moment," Klocke said. "The Pier is a treasured part of Santa Monica, and a place where both tourists and Angelenos come for fun and relaxation. SC's investment and resources will help us expand what makes Pacific Park great today and write its next exciting chapter."
Opened in 1996, Pacific Park offers a dozen pay-as-you-go rides, plus midway games, food, and shopping on its two acres. Its best-known rides at the solar-powered Pacific Wheel Ferris wheel and the D.H. Morgan West Coaster roller coaster.
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