USA. Palladin Consumer Retail Partners (PCRP) has announced an investment in Tailwind Hospitality and the simultaneous acquisition of airport retail and food & beverage concessionaire Air Host. The transactions combine to create a new nationwide airport concessions platform in the US.
Tailwind Hospitality is the owner of Tailwind Concessions, a fast-growing airport concessions specialist operating full-service restaurants, bars, retail and gift shops in regional airports across the US. Its footprint extends to 28 non-hub primary and small hub airports located across 18 states.
PCRP is a Boston-based private investment firm focusing primarily on the retail and consumer products sectors in North America and Europe.
Tailwind and PCRP are together acquiring Air Host, an airport concessionaire which operates retail and F&B spaces in seven other regional airports. PCRP contributed the capital for Tailwind to complete the acquisition of Air Host to expand the company’s scale and footprint.
Tailwind CEO Jeff Switzer will lead the combined companies post-closing, as Tailwind presses on with its ambition to expand into new airports across the US and internationally.
The PCRP portfolio team led by Managing Director Robert Fioretti and CEO Mark Schwartz will work closely with the Tailwind team and Palladin operating partners providing marketing, financial, real estate, systems and other expertise to help expand the Tailwind Concessions platform.
Switzer said: “We are excited to partner with Palladin as we grow our network and work with our airport partners to provide premium services to business and leisure travellers.
“The additional capital and operational resources will help to strengthen the leading services, product offerings and support that are the hallmark of our company.”
Schwartz said: “We are excited to partner with Jeff and his team who are highly respected in the industry. They are a very experienced group building a strong brand and dedicated to serving the needs of regional airports and their customers.
“We are confident that, with additional capital and resources, we can work well together to significantly expand the Tailwind platform.”
