Parques Reunidos

Theme park
May 1994
May 1999

In May 1994, Cinven and a Spanish partner invested in the Madrid theme park Parques Reunidos. The park was the largest in Spain and was purchased by its management from its heavily indebted parent.

The park was located within the metropolitan boundaries of Madrid, on land conceded to the company by Madrid City Council. The plan for the business was to invest in new attractions, promote the park through a revitalised and increased advertising campaign and to make a series of operational improvements within the business as well as increasing the number and quality of live concerts held there.

From 1994 to 1998 turnover of the business more than doubled and earnings increased by an even larger proportion. During this period the company expanded, acquiring water parks throughout Spain. It also acquired Madrid Zoo which was located at a site adjacent to the existing park and enhanced the overall visitor experience. It invested in new attractions and improved the quality of its estate. In May 1999 the business was successfully floated on the Madrid Stock Exchange.

Multiple returned on investment: 6x