Banking Recap

EPR PROPERTIES Announces Acquisition for $331.0M

Six Flags Entertainment Corporation announced on March 5, 2026 that it had entered into definitive agreements to sell seven of its amusement and water parks, Valleyfair, Worlds of Fun, Michigan's Adventure, Schlitterbahn Waterpark Galveston, Six Flags St. Louis, Six Flags Great Escape and Six Flags La Ronde, to EPR Properties (NYSE: EPR) for total cash consideration of $331 million, subject to customary purchase price adjustments. The release describes the sale as part of Six Flags' "disciplined portfolio optimization strategy," with the divested parks having generated approximately $260 million in net revenue and approximately $45 million in Adjusted EBITDA for the parks collectively in 2025.

Mar 5, 2026·SEC EDGAR (8-K)·pending regulatory·divestiture (multi-asset sale)

Deal value

This record is sourced from an Exhibit 99.1 press release furnished with Six Flags' Form 8-K filed March 5, 2026. At announcement, the transaction was a signed set of definitive agreements pending closing conditions and third-party approvals, with closing expected by the end of the first quarter or beginning of the second quarter.

Perella Weinberg Partners served as sole financial advisor to Six Flags on the divestiture, per the release's statement "Perella Weinberg Partners acted as financial advisor to Six Flags, and Weil, Gotshal & Manges LLP acted as legal counsel." No financial advisor to EPR Properties is named in this release, and no lead designation applies since Perella Weinberg was the only financial advisor disclosed.

On the legal side, Weil, Gotshal & Manges LLP represented Six Flags; no legal advisor for EPR Properties is disclosed in this release.

Under the terms, EPR plans to partner with Enchanted Parks to run the six domestic properties, and with La Ronde Operations, Inc. (owned by Kieran Burke) to operate Six Flags La Ronde; EPR will retain rights to use the Six Flags brand through the end of 2026. Cash proceeds, after taxes and transaction expenses, will be used to pay down debt, and Six Flags said it plans to operate its remaining 34 parks across 23 locations for the 2026 season.

Not disclosed in the sourced document is any valuation multiple implied by the $331 million price relative to the parks' $45 million combined Adjusted EBITDA, EPR Properties' financial advisor (if any), or a specific calendar closing date beyond "end of the first quarter or beginning of the second quarter."