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Apollo may sell Great Wolf Resorts

Reuters reports that Apollo Global Management is considering the sale or IPO of Great Wolf Resorts. Apollo is working with Goldman Sachs Group and Deutsche Bank AG on a dual-track sale process for the company.

Reuters also reports that an auction for Great Wolf is under way and other companies and buyout firms have expressed interest. Additionally, an IPO registration for Great Wolf has been filed confidentially with the U.S. Securities and Exchange Commission, and the company will go public if the offers do not meet valuation expectations.

According to Moody Investors Services, Great Wolf has an annual revenue of about US$325 million with almost a dozen resorts in North America. Apollo took over Great Wolf in 2012 for US$703 million.

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