ENFIELD, Conn., Feb. 19, 2021 /PRNewswire/ — Have you ever wanted to own your own amusement park, water park and private lake? Now is your chance.
Clementon Park, an amusement and water park founded in 1907 in Clementon, New Jersey, is being sold at auction on March 23 by Capital Recovery Group, (CRG) a global private equity firm based in Connecticut. According to CRG President Bill Firestone the park will be auctioned in its entirety or will be sold as land, equipment, rides, buildings and liquor license in pieces.
“We are actively seeking a buyer for this iconic park located outside of Philadelphia and expect significant interest in the auction,” said Firestone. “The property includes a 25-acre lake, dam, amusement rides, a water park and a full liquor license.”
Founded as one of the nation’s “trolley parks,” it was built at the end of a trolley line to encourage ridership during the weekends and to provide amusements for residents of nearby Philadelphia. Founded by Theodore Gibbs and his two sons, it was family-run until 2011 when it was purchased by investment group Premier Parks, who then renamed it Clementon Park and Splash World in recognition of the addition of the water park.
The park has been closed since September 2019. A judge named Howard Samuels and Rally Capital Advisors as receiver on January 25, 2021. Samuels hired CRG to sell the park, either as a single unit or in pieces. Bids will be taken March 23, 2021, with inspection available March 19.
All prospective bidders can register online at CRG’s website: https://crgllc.com/auctions/clementon-park-splash-world/
Capital Recovery Group (CRG) is a global private equity firm that creates liquidity for its clients through expertise, innovative solutions, and access to worldwide markets. Specializing in complex scenarios comprised of industrial assets and real estate, the company helps its partners revitalize idle or marginally productive assets and liquidate surplus. The company deploys CRG capital to directly purchase assets or debt, invest in equity, or perform a combination that delivers optimal solutions. CRG has built a reputation by providing uncompromising service, qualified knowledge and creative strategies. Working collaboratively, its team of experts acts as advisor, advocate and problem-solver while acquiring actionable intelligence that brings clarity to complex financial decisions.
Media Contact: Tom Nicholson, 212-203-2803
SOURCE Capital Recovery Group, LLC