LINCOLNWOOD, Ill.--(BUSINESS WIRE)--Piney Ice Holdings, Inc., (“Piney” or the “Company”) an affiliate of Blackstreet Capital Holdings, LLC (“BCH”) and Ice Rink Holdings, LLC (“IRH”), has acquired substantially all of the assets of the American Heartland Arena in Lincolnwood, IL, and Center Ice of DuPage in Glen Ellyn, IL (the “Arenas”). Each facility houses two sheets of ice and serves youth hockey and other ice sports participants in the metropolitan Chicago area. American Heartland Arena, located in Lincolnwood, IL, is a year-round indoor two-sheet ice arena with a high-performance training gym that is home to numerous youth hockey and figure skating clubs. Center Ice of DuPage, located in Glen Ellyn, IL, is a year-round indoor two-sheet ice arena with a world-class figure skating academy. The Arenas are the fifth and sixth ice rinks purchased by Piney. Other ice rink holdings include Piney Orchard Ice Arena in Odenton, Maryland, Ice World in Abingdon, Maryland, Seven Bridges Ice Arena in Woodridge, Illinois, and Iceoplex at Southpointe in Canonsburg, Pennsylvania. Piney is led by Murry Gunty, President.
The Arenas will be managed by Ice Rink Performance Group (“IRPG“) which also manages Bill Gray’s Regional Iceplex in Rochester, NY, Seven Bridges Ice Arena in Woodridge, IL, and Iceoplex at Southpointe in Canonsburg, PA. “We look forward to providing these great Chicagoland communities a diversified platform of ice sports and recreation programming as well as affordable family entertainment that promotes physical activity and healthy lifestyles," said Scott Branovan, President of IRPG.
“We’re very excited to now own and operate three arenas in the suburbs of Chicago,” said Murry Gunty, President of Piney. “Chicago is passionate about ice hockey and figure skating and we’re thrilled to be able to provide quality rinks and services to the community. Scott Branovan and his team currently manage Seven Bridges Ice Arena and we are excited for them to align Heartland and Center Ice to provide the area with first-class recreation facilities and quality customer service.”
Piney is a holding company that seeks investments in sports and entertainment facilities and youth sports events. Piney currently owns and operates six arenas across the United States with a total of 10 sheets of indoor ice and two indoor turf fields.
BCH is a diversified holding company that seeks investments in debt and equity of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition. BCH seeks to invest in a range of industries including education, manufacturing, sports and entertainment, distribution, ecommerce, and franchising.
“BCH can provide capital solutions for all types of businesses,” said Murry Gunty, BCH Chief Executive Officer. “We can move exceptionally fast to understand the situation. We are very flexible with respect to how we structure a deal and we pride ourselves on being creative in getting difficult deals done whether they’re asset or stock deals, corporate divestitures or debt purchases. We are focused on helping the underlying business stabilize and grow over the long-term.”
IRH is an investor and partner in Piney and is also controlled by Mr. Gunty.
About Blackstreet Capital Holdings, LLC
Blackstreet Capital Holdings, LLC is a Chevy Chase, MD based diversified holding company run by Murry Gunty and Lawrence Berger. BCH owns and manages lower middle market businesses and is not a private equity fund. BCH seeks investments in debt and equity of lower middle market businesses or corporate orphans that are in out-of-favor industries or are undergoing some form of transition. BCH will invest in a range of industries including manufacturing, distribution, franchisors, retail (ecommerce, catalog, multichannel), technology, education, sports and entertainment and consumer finance
About Piney Ice Holdings, Inc.
Piney Ice Holdings, Inc. is a Chevy Chase, MD based holding company that seeks investments in sports and entertainment facilities and youth sports events. Piney currently owns and operates six arenas across the United States with a total of 10 sheets of indoor ice and two indoor turf fields.
About Ice Rink Holdings, LLC
Ice Rink Holdings, LLC is a Chevy Chase, MD based holding company that invests in Piney Ice Holdings, Inc.
About Ice Rink Performance Group
The Ice Rink Performance Group provides management services to rink owners focused on improving operating performance through vertically integrated, internally managed programming, marketing and sponsorship opportunities. IRPG focuses on providing the highest quality facility conditions at all times and exceeding consumers expectations with state-of-the-art programming and amenities. IRPG's management team has deep experience operating ice rinks and currently manages Bill Gray's Regional Iceplex in Rochester, NY; Iceoplex at Southpointe in Canonsburg, PA; Seven Bridges Ice Arena in Woodridge, IL; American Heartland Arena in Lincolnwood, IL; and Center Ice of DuPage in Glen Ellyn, IL.