SALT LAKE CITY — Provo's CircusTrix, an operator of indoor recreation/trampoline parks and self-proclaimed "purveyor of awesome" just took an awesome leap in size following the acquisition, announced Thursday, of competitor Sky Zone.
The move nearly tripled the company's owned or franchised facilities, growing its portfolio from 99 to almost 300 operations in locations across the globe. It's CircusTrix's second acquisition in the last year, having previously swallowed the California-based Rockin' Jump, which operated similar indoor recreation outlets.
In a statement, CircusTrix CEO Case Lawrence lauded Sky Zone for innovating the trampoline park concept a decade ago and noted plans are in place to retain Sky Zone's executive team.
"Sky Zone launched our industry when it created the first indoor trampoline park almost 10 years ago," Lawrence said. "They have since grown to become the largest brand in the trampoline park market. When it comes to franchise support and infrastructure, we believe that nobody does it better than Sky Zone.
"We are delighted to welcome Jeff Platt and the Sky Zone team into the CircusTrix family.”
CircusTrix facilities combine super trampoline arrays with “American Ninja”-like obstacle courses, foam pits, slacklines and parcour courses.
Lawrence told the Deseret News that having the global company's headquarters in Utah was no fluke as the state has provided access to excellent talent resources and also plays host to an enthusiastic customer base for CircusTrix's indoor parks.
"Utah has the strongest 'extreme sports' community in the U.S.," Lawrence said. "At CircusTrix, we have tapped into this passionate pool of talent to build the largest force of professional park operators in the world — most of them have been sourced from Utah. In addition, we have found that being located in Utah is a strong asset in recruiting executive and creative talent from across the country."
Lawrence said the Sky Zone acquisition makes CircusTrix, founded in 2011, the biggest operator of trampoline parks in the world with 287 facilities and nearly 16,000 employees. The indoor recreation market, currently valued at $1.4 billion is expected to more than double by 2023.
CircusTrix's acquisitions have been supported by investment from New York-based private equity firm Palladium Equity Partners LLC as well as other equity holders, according to the company.