Black Bear Sports Group Acquires 16th Ice Arena
An affiliate of Black Bear Sports Group, Inc. (Black Bear) has acquired the Patriot Ice Center in Newark, DE (the Arena).
An affiliate of Black Bear Sports Group, Inc. (“Black Bear”) has acquired the Patriot Ice Center in Newark, DE (the “Arena”). The Arena features one NHL-size ice rink and one Olympic-size ice rink, an athletic training gym, café, pro shop and a martial arts studio. The Arena is home to many young skaters and players in the area and, like many of Black Bear’s arenas, frequently hosts youth and adult hockey tournaments throughout the year. Black Bear was founded by CEO Murry Gunty in 2015.
“The Mid-Atlantic region is producing more and more talented skaters and youth players. Delaware is known for quality figure skating but many young players are passionate about hockey here as well,” said Murry Gunty, Founder and CEO of Black Bear. “We are excited to add Patriot to our growing portfolio of east coast ice rinks.”
The Patriot Ice Center is the first acquisition for Black Bear in Delaware and 12th investment on the East Coast. Patriot complements Black Bear’s adjacent rinks including Ice World in Northeastern Maryland and three facilities in the nearby suburban Philadelphia area: Revolution Ice Gardens, Bucks County Ice Sports Center and The Igloo at Mt. Laurel.
“We are excited to improve the facility and strengthen the skating and hockey programming at Patriot,” said Ryan Scott, Vice President of Black Bear. “Our immediate priority is to structurally improve the ice surfaces to ensure the community has quality ice for the upcoming season and to renovate the building to enhance the customer experience going forward.”
About Black Bear Sports Group, Inc.
Black Bear Sports Group, Inc. is a privately held company formed by Murry Gunty in 2015 that seeks investments in sports and entertainment facilities, teams and youth sports events. Black Bear arenas are clean and professionally managed and offer world-class recreational programs. Black Bear focuses on ice arenas in metropolitan areas with compelling demographics, markets with a National Hockey League club presence and arenas with existing youth hockey clubs. Black Bear has the ability to acquire healthy and stable arenas, but also to turn around under-managed or under-performing facilities. Black Bear currently owns and operates 16 arenas across the United States with a total of 29 sheets of indoor ice, two indoor turf fields, seven youth hockey clubs and four Junior “A” hockey franchises in the United States Hockey League, North American Hockey League and Eastern Hockey League.
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