News

DENVER – June 30, 2021 – KSL Capital Partners, LLC (“KSL”) has completed the final closing of its latest travel and leisure focused credit fund, KSL Capital Partners Credit Opportunities Fund III (“KSL Credit III” or the “Fund”).  The Fund targets dollar denominated performing credit in travel and leisure businesses in North America and the Caribbean.

Against an initial target of $675 million, together with commitments from the General Partner, KSL Credit III exceeded its target with aggregate capital commitments of $753 million.  Surpassing the size of KSL’s prior private credit fund, KSL Credit III is backed by a diverse group of existing and new investors including state pension funds, sovereign wealth funds, endowments, foundations, insurance companies and family offices.

“For nearly 30 years, KSL has invested solely in travel and leisure businesses, and we began investing in performing credit in 2013 with our first dedicated credit fund,” said Eric Resnick, Chief Executive Officer of KSL.  “As an owner, operator or lender, today, we are uniquely suited to provide customized solutions to borrowers, owners, sponsors and companies from performing loans to minority investments to control investments.  KSL Credit III will continue our successful strategy of assisting borrowers in implementing their business plans.”

Craig Henrich, Head of Credit of KSL, added “We believe that our ability to raise KSL Credit III in less than a year and entirely virtually during the pandemic is a testament to the attractiveness to the opportunities of investing in travel and leisure notwithstanding the near-term impact of Covid-19.  We are immensely grateful to our Limited Partners and the support that they have and continue to show our platform.”

Since the firm’s inception in 2005, KSL has raised approximately $15 billion in equity and debt commitments.  Simpson Thacher & Bartlett LLP served as counsel to KSL and the Fund.
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About KSL Capital Partners
KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services.  KSL has offices in Denver, Colorado; London, England; Singapore; and Stamford, Connecticut.  For additional information, please see www.kslcapital.com.

Media Contact:
Maureen Richardson, River Communications
mrichardson@riverinc.com
Mobile: + 914-434-6033
Office: + 1 914-686-5599

New venture focused on assembling a best-in-class marina portfolio throughout North America

North Palm Beach, FL and Denver, CO (May 18, 2021) – Southern Marinas, a premier owner and operator of marina properties, and an affiliate of KSL Capital Partners, the leading investor in travel and leisure businesses, are pleased to announce their partnership to acquire and operate a best-in-class portfolio of marinas across North America.

“KSL is excited to partner with Southern Marina’s highly experienced management team to help continue to build upon their track record of success,” said John Ege, Partner at KSL.  “With highly attractive industry fundamentals, including strong barriers to entry and growing demand for quality boating experiences, we have been exploring various opportunities to invest in the marina space for a number of years.  We believe we have found an exceptional partner in Southern Marinas.”

Southern Marinas, whose principals include Mitchell Jones, Drew Gendron and Gary Rosmarin, look to continue their recent success in the marina space.  “We could not envision a better partner than KSL, whose experience is unrivaled in the travel and leisure market,” said Gendron.  “With a robust pipeline of properties in place, our partnership plans to close on a number of key acquisitions in the near term to anchor the growth of our portfolio.”      

“We have spent several years getting to know KSL and are impressed by their leadership team’s long term track record of consistently growing value for all stakeholders,” Jones added. Over the past 20 years, we have been privileged to help marina owners transition successfully into the next phase of their lives by purchasing their marina assets.  Through our partnership with KSL, our Southern Marinas team will provide even more opportunities to sellers in search of the right people to continue their legacies.”

The principals of Southern Marinas have been involved in the acquisition and management of over 50 marinas and resort properties throughout the United States for more than 20 years. The Southern Marinas team’s experience and operational expertise extends to coastal, mountain and lake marinas and is seeking to replicate this coast-to-coast strategy with KSL.

About Southern Marinas, LLC:‍

Founded in 2018, Southern Marinas, LLC is a premier owner and operator of properties strategically located across the United States. Their experienced leadership team has more than 75 years of combined experience and specializes in marina acquisition and management. Their philosophy is to extend a warm welcome and gracious “Southern Hospitality” across all touchpoints of the customer experience. The proven systems, strategies, and philosophy that they have implemented across their marina portfolio allows them to maximize operational efficiency and deliver premium value to their members, associates, business partners, vendors, and investors. For more information on Southern Marinas, LLC, please contact info@southernmarinas.com or visit www.southernmarinas.com.

About KSL Capital Partners:‍

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; London, England and Singapore. Since 2005, KSL has raised approximately $14 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

Media Contacts:
For Southern Marinas: Josalyn Claussen, Marketing & Communications
(815) 904-3098; jclaussen@southernmarinas.com

For KSL: Maureen Richardson, River Communications
(914) 434-6033; mrichardson@riverinc.com

• Blade Urban Air Mobility, Inc. today announced the completion of its business combination with Experience Investment Corp., a special purpose acquisition company sponsored by KSL Capital Partners
• The combined company’s common stock will begin trading on the NASDAQ under the ticker symbol “BLDE” on May 10, 2021
• Transaction proceeds of approximately $365 million, after giving effect to minimal redemptions, enables an acceleration of Blade’s acquisition and route expansion strategy
• Blade will be the first publicly traded urban air mobility company

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New York, NY (May 7, 2021) – BLADE Urban Air Mobility, Inc., a technology-powered air mobility company, today announced the completion of its business combination with Experience Investment Corp. (NASDAQ: EXPC, “EIC”), a NASDAQ listed special purpose acquisition company sponsored by KSL Capital Partners. The combined holding company will change its legal name to Blade Air Mobility, Inc. (the “Blade HoldCo”) and Blade Urban Air Mobility, Inc. (“Blade” or the “Company”) will be its wholly owned, operating subsidiary. The Blade HoldCo’s common stock and warrants are expected to commence trading on May 10, 2021 on the NASDAQ under the new ticker symbols “BLDE” and “BLDEW,” respectively.

As a result of the business combination and concurrent private placement of common stock, Blade HoldCo received approximately $365 million in gross proceeds.

Kenneth B. Lerer, Chairman of Blade said, “Our transaction with EIC is transformative. The capital will enable Blade’s strong brand and consumer proposition in urban air mobility to rapidly scale across new markets while allowing the Company to accelerate M&A activities and ensure that it is well positioned as Electric Vertical Aircraft become available.”

Rob Wiesenthal, Founder and Chief Executive Officer of Blade, added, “Our recent agreements with Electric Vertical Aircraft manufacturers Beta Technologies and Wisk Aero will accelerate our transition to quiet, emission-free, and cost efficient urban air mobility. Additionally, we are well positioned to capitalize on pent-up travel demand with the relaunch of our New York Airport service and related partnership with KAYAK.”

Eric Affeldt, Chief Executive Officer and Chairman of Experience Investment Corp., added, “We are pleased to see the completion of this merger. Blade stands at the intersection of urban air mobility and the ongoing transition to an emission-free transportation world. We believe the unique position of Blade as an operating urban air mobility business will enable it to deliver significant value to internal and external stakeholders.”

In addition to Rob Wiesenthal, Blade’s existing management team will continue to lead the combined company including President Melissa Tomkiel, Chief Financial Officer Will Heyburn, and Chief Technology Officer Brandon Keene.

Advisors‍

Credit Suisse served as the exclusive financial and capital markets advisor to Blade. Deutsche Bank Securities served as lead capital markets and exclusive financial advisor to Experience Investment Corp., with Citigroup and J.P. Morgan acting as joint capital markets advisors. Credit Suisse and Deutsche Bank Securities also acted as lead placement agents on the private offering, with Citigroup and J.P. Morgan acting as joint placement agents. Proskauer Rose LLP served as legal advisor to Blade, and Simpson Thacher & Bartlett LLP served as legal advisor to Experience Investment Corp.

About Blade

Blade is a technology-powered urban air mobility platform committed to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in the U.S. and abroad. Today, the Company predominantly uses helicopters and amphibious aircraft. Its asset-light model, coupled with its exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft ("EVA" or “eVTOL”), enabling lower cost air mobility to the public that is both quiet and emission-free. For more information, visit blade.com/investors.

About Experience Investment Corp.‍

Experience Investment Corp. is a special purpose acquisition company sponsored by an affiliate of KSL Capital Partners and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. For more information, please visit experienceinvestmentcorp.com

About KSL Capital Partners‍

KSL Capital Partners, LLC is a private equity firm specializing in premier travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. Since 2005, KSL has raised approximately $13 billion of capital across both debt and equity funds. For more information, please visit kslcapital.com

Forward Looking Statements‍

This press release contains certain forward-looking statements within the meaning of federal securities laws, including with respect to the business combination of Blade and EIC. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. Such factors can be found in EIC’s most recent annual report on Form 10-K, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov, and also in EIC’s Form S-4 and definitive proxy statement/prospectus, filed with the SEC. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us or the business combination between Blade and EIC. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Contacts
For BLADE
Phil Denning / Nora Flaherty
BladeMediaRelations@icrinc.com
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For Experience Investment Corp.
Maureen Richardson
mrichardson@riverinc.com
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For KSL Capital Partners
Maureen Richardson
mrichardson@riverinc.com
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For Investors
Tom Cook
BladeIR@icrinc.com

ENGLEWOOD, Colo., Feb. 11, 2021 /PRNewswire/ -- WellBiz Brands, Inc., a franchise portfolio company operating three distinct beauty, wellness and fitness brands – Amazing Lash Studio®, Elements Massage® and Fitness Together® announced today it has acquired the franchisor rights for Drybar® shops, through an affiliate entity. As part of the transaction, WellBiz Brands will add its fourth concept to its franchise portfolio and become the franchisor for 141 Drybar shops. Drybar Holdings LLC will continue to operate 87 Drybar shops as Drybar's largest franchisee.

Founded in 2010 by Alli Webb, Drybar shops is an industry disruptor specializing in blowouts. Drybar's philosophy is simple – No Cuts. No Color. Just Blowouts. Despite focusing on blowouts, Drybar knows it's not just blowouts it's selling, but the happiness and confidence that comes from the experience of visiting one of Drybar's distinctive yellow-branded salons where the client can always count on the best music playlist, their favorite movies playing on the TV and being greeted with a glass of champagne. Drybar was named one of the top "100 Brilliant Ideas of 2010" by Entrepreneur Magazine and New York Magazine's Boom Brands of 2013.

"I'm thrilled to welcome Drybar shops into the WellBiz Brands' franchise platform. At WellBiz Brands, we are focused on building best in class services that women love, and Drybar fits that mission perfectly," said WellBiz Brands Chief Executive Officer, Jeremy Morgan. "Drybar is truly a category creator, with remarkable customer loyalty. I'm excited to support the brand's trajectory by leveraging our expertise in franchising and personal care services. With the momentum already behind this brand, I have no doubt that we'll be able to scale quickly and connect with more franchise partners."

"Drybar has a passionate and loyal customer base and franchise system. Joining the WellBiz platform is a huge testament to the strength of Drybar shops. The synergy and scale of Wellbiz will help take Drybar to the next phase of growth," stated Drybar Holdings LLC Chief Executive Officer, Liz Williams.

"I started Drybar because I wanted to create a beautiful place where woman could get a great blowout at an affordable price. At Drybar, it's all about the experience and the way we make people feel. We aren't just selling blowouts, it's the happiness and confidence that come from amazing hair. I am excited to have a new partner, WellBiz, that understands and is committed to that vision," said Alli Webb, Founder of Drybar.

Wellbiz Brands, Inc. is the nation's premiere franchisor of beauty, wellness, and fitness brands. With more than 750 locations, WellBiz Brands is uniquely qualified to serve the growing needs of the affluent female consumer through recurring revenue, experience-based brands. WellBiz builds the capabilities of emerging consumer brands and enables them to accelerate scalable and predictable growth. The company's multi-brand platform provides access to a robust platform of shared services, infrastructure and support. For the last three years the company has claimed three spots on the Inc. 5000 list.

Piper Sandler & Co served as financial advisor to Drybar Holdings, with Latham Watkins and Cheng Cohen serving as legal counsel in connection with this transaction. Polsinelli represented WellBiz Brands as legal counsel.

WellBiz Brands has assumed the license to use the Drybar trademark from Helen of Troy Limited. Drybar remains a registered trademark of Helen of Troy Limited.

To learn more about Drybar franchise opportunities, please visit www.drybarshops.com and for more information regarding franchise opportunities at WellBiz Brands please visit www.wellbizbrands.com.

About WellBiz Brands, Inc.‍

WellBiz Brands, Inc. is the manager of four beauty, health, wellness franchise brands: Drybar®, Amazing Lash Studio®, Elements Massage® and Fitness Together®. Headquartered in Englewood, Colorado, WellBiz Brands, has more than 750 combined U.S. locations across the four brands. Through the WellBiz Brands support staff, the brands strive to uphold these core values: fun, ownership, respect, passion, and integrity. These core values embody all that is important for each brand - from franchise owners to clients - to lead healthy, balanced lives. All four brands offer unique franchise opportunities for entrepreneurs from all walks of life and various investment levels, with a fresh focus on recurring revenue models. For more information about WellBiz Brands and its franchise opportunities, visit WellBizBrands.com.

About Drybar Holdings‍

Named one of the top "100 Brilliant Ideas of 2010" by Entrepreneur Magazine and New York Magazine's Boom Brands of 2013, Drybar is based on the simple concept of focusing on one thing and being the best at it: Blowouts. Drybar Holdings operates 141 shops throughout the United States and Canada. For more information about Drybar and its franchise opportunities, visit www.drybarshops.com.

Contact:
Jody Ryan
WellBiz Brands, Inc.
(602) 614-0744
jryan@wellbizbrands.com

Link to Release

Regarded as one of the world’s leading luxury lodges, New Zealand’s Huka Lodge will join the Baillie Lodges growing portfolio of luxury accommodations as of 4th February.

With the landmark transaction comes after successful negotiations between the Huka Retreats’ parent company and Baillie Lodges, the acquisition has been reviewed and approved by New Zealand’s Overseas Investment Office (OIO).

The addition of Huka Lodge to the Baillie Lodges collection is the second international lodge for the Australian-based company, after Vancouver Island’s Clayoquot Wilderness Lodge joined the brand in late 2020.

Baillie Lodges’ growing portfolio of upscale lodges also includes Longitude 131° at Uluru-Kata Tjuta, Capella Lodge on Lord Howe Island and Tropical North Queensland luxury bolt-hole Silky Oaks Lodge in the Daintree, which is currently under renovation ahead of reopening in October 2021. The company’s flagship property, Southern Ocean Lodge on Kangaroo Island, was destroyed in bushfires in 2020 with its rebuild now in planning.

Huka Lodge’s loyal guests and its team of dedicated, tenured staff can expect the transfer of ownership to preserve the unique boutique luxury experience at Huka Lodge. All staff will be retained and continue to provide the lodge’s trademark exceptional service, led by highly regarded General Manager, Kerry Molloy.

Partnerships with local suppliers and operators will remain unchanged and Baillie Lodges intends to expand these relationships in line with its philosophy of promoting local produce, experiences and culture as an essential part of the guest experience.

Located near Tauop, Huka Lodge has a rich history spanning almost a century, with Irishman Alan Pye first establishing a high-end camp on the shores of the Waikato River, famous for its trout and offering excellent fly-fishing, in 1924. In 1984, Huka Retreats founder Alex van Heeren saw the potential for a world-class property and his vision is regarded as the genesis of luxury lodging, a phenomenon now leading tourism trends around the world.

Advising that he felt very privileged to have the opportunity to work with Huka Lodge, Baillie Lodges founder, James Baillie stated “Huka Lodge has long set the standard for excellence in luxury lodging, and we’re honoured that Baillie Lodges will serve as its new steward.

“We recognise the incredible opportunity we now have to lead the award-winning lodge into a new era and take very seriously our role in maintaining the property’s fine heritage and global reputation.”

Baillie Lodges was acquired in 2019 by an affiliate of KSL Capital Partners, LLC, a leading U.S. investment firm focused solely on investments in travel and leisure businesses.

KSL Principal Kirk Adamson added “we view the acquisition of Huka Lodge as an important next step in the evolution of Baillie Lodges. We are excited to continue building our portfolio of exceptional boutique luxury lodges both within Australia and New Zealand, and also being selective and thoughtful in pursuing additional opportunities on a more global basis. For our guests, the continued expansion of Baillie Lodges opens up new, exciting itinerary options across Australia, New Zealand, and beyond.”

Baillie Lodges is an intimate portfolio of luxury lodges setting new benchmarks for premium experiential tourism.