ACADIA NAT’L PARK — Nolan Capital, a California-based private equity firm, has become the majority owner of Ortega National Parks, the parent company of Dawnland LLC, which has a contract with the National Park Service (NPS) to operate the Jordan Pond House restaurant and gift shop and the small shops at Thunder Hole and the Cadillac Mountain summit.
Ortega is a seventh-generation family business based in Santa Fe, N.M., that operates retail shops, lodging establishments and restaurants in national and state parks around the country. The company was awarded a 10-year concessions contract for Acadia in 2013.
Ortega President Shane Ortega told the Islander in August that the company was looking into teaming up with an investing partner to provide more “resources, expertise and capital.”
“We are a family business that has undergone large growth recently,” Ortega said at the time. “We realized it would benefit us, our customers and the NPS to bring in resources so that we do not have growth pains.”
He said that having an investing partner would mean “I would have more eyes and ears on the ground at Acadia, talking with customers … and working with the NPS to make sure we are doing the right thing.
“I’m not going anywhere. I love Acadia and I love this business.”
Shane Ortega and Peter Nolan, chairman of Nolan Capital, will now serve as co-chairmen of the Ortega board.
“We are excited about how the team at Nolan Capital can help us continue to grow and diversify our business, while staying true to the Ortega family roots,” Shane Ortega said in a press release.
Nolan said he is proud to partner with the Ortega family, which is a concessionaire in about 15 national parks in addition to Acadia, including Carlsbad Caverns, Death Valley, Great Smoky Mountains, Hawaii Volcanoes and Mammoth Cave.
“It is our mission to continue as a responsible steward of our park partner’s assets and resources,” Nolan said. “We are committed to serving our guests and visitors while respecting the environment and furthering the mission of these great public assets.”
Nolan Capital focuses on making “control investments in leading middle-market companies,” according to its website.
“We seek to partner with exceptional management teams who share a common vision for growth.”