Tailwind Concessions Acquires Oakwells and Multiple F&B Concessions From Kind Hospitality; Further Solidifies Tailwind as Leading Operator in Small and Mid-Size Airports in North America

News provided by

Palladin Consumer Retail Partners, LLC

Sep 10, 2024, 13:27 ET

WILMINGTON, N.C., Sept. 10, 2024 /PRNewswire/ -- Tailwind Hospitality, Inc. (dba "Tailwind Concessions" or "Tailwind"), headquartered in Wilmington, North Carolina, today announced the acquisition of Oakwells, a Winter Park, Florida-based regional airport and train station concessionaire, as well as the acquisition of four food and beverage concessions at Phoenix-Mesa Gateway Airport from Kind Hospitality.

Oakwells, founded in 2004, currently operates retail and grab n' go concessions, as well as full-service bars and restaurants, in twelve airports and one train station across the country providing superior service and quality offerings to its airport customers and their respective passengers.

"We welcome Oakwells, along with its impressive team and operations, to the Tailwind family," stated Jeff Switzer, CEO of Tailwind. Switzer added, "We are excited to partner with Mike Reilly, founder and CEO of Oakwells, who will also join the Tailwind team post-close along with his over 100 employees, to ensure a successful combination of the businesses and continue to provide best-in-class service and responsiveness to our airport partners."

Mike Reilly added, "We have long competed with Tailwind in the airport market, and it was great working with the Tailwind team to get this transaction done. We're confident that our employees and airport partners will mesh with Tailwind's strong customer-first culture to ensure the continued growth of the combined business."

Tailwind also closed its acquisition of a majority stake in four food and beverage concessions at the Phoenix-Mesa Gateway airport previously owned by Kind Hospitality and its founder Nava Thursaisingam. The acquisition includes four food and beverage revenue centers, including concepts with local breweries and restaurants. Jeff Switzer stated, "We view this more as a partnership, not an acquisition, with Nava and his impressive team and look forward to partnering together on other airport opportunities in the future."

In November 2021, Palladin Consumer Retail Partners partnered with Tailwind and its existing management team to recapitalize the Company and acquire a smaller competitor, Air Host, creating a leading airport concession platform focused on small and mid-sized airports throughout the United States. Since the investment, Tailwind has more than doubled its footprint while further building out its offering of nationally known brands and local concepts, and now operates over 160 concessions in nearly 60 airports across the continental United States and Alaska.

ABOUT TAILWIND HOSPITALITY (TAILWIND CONCESSIONS)

Founded in 2004 and based in Wilmington, North Carolina, Tailwind Hospitality, LLC ("Tailwind" or the "Company") is a leading airport concessionaire specializing in operating full-service restaurants, bars, retail and gift shops predominantly in non-hub, primary and regional airports located throughout the United States. The Company currently has or will be beginning operations at nearly 60 airports comprising of over 160 revenue centers and, in the majority of locations, is the sole and exclusive concessionaire serving a captive audience with minimal to no alternatives. Tailwind has focused on developing unique, location-specific venues at each of its airports, adapting to local culture, tastes and needs, rather than implementing a single generic brand. Tailwind's primary focus on the regional airport market combined with a highly variable cost structure allow the Company to remain profitable during a variety of passenger traffic levels.

ABOUT PALLADIN CONSUMER RETAIL PARTNERS (PCRP)

Palladin Consumer Retail Partners ("PCRP" or "Palladin") is a Boston-based private investment firm, founded in 1998, that focuses primarily on the retail and consumer products sectors in North America and Europe. Our team has a strong investment and operating track record; the Principals of PCRP have invested in, financed, or managed over 100 public and private retail and consumer products companies. We pride ourselves on working closely with management teams to create value through strategic and operational initiatives. PCRP strives to provide its portfolio companies with the advantages of a strategic partner and the operating flexibility and incentives of a financial investor. Current and former investments include M@C Discount, Southeast Mechanical, Tailwind Concessions, Leapfrog Brands, Decowraps, PB Metro, Splash Car Wash, KT Tape, Nic+Zoe, InMotion Entertainment, J. McLaughlin, Things Remembered, Restoration Hardware, Spencer Gifts, Jamba Juice, Worldlynx, Multi-Flow, and Kwik-Tek.

CONTACT:

Tailwind Hospitality
Jeff Switzer, CEO
[email protected]
720-891-7031

Palladin Consumer Retail Partners
Patricia Donnelly
[email protected]
617-585-3800

SOURCE Palladin Consumer Retail Partners, LLC