Big Apple Circus under new ownership
This deal was awarded M&A Advisor's 12th Annual Turnaround Award in the Consumer Discretionary Deal of the Year ($10 million to $25 million) category. For more information on the deal's recognition, click here.
On February 9, 2017, The Big Apple Circus selected Florida-based investment firm Compass Partners, L.L.C., as the successful bidder in a court-ordered bankruptcy auction of its iconic collection of assets, including intellectual property, with a bid of US$1.3 million.
The decision was approved by the U.S. Bankruptcy Court for the Southern District of New York on February 14, 2017.
The Big Apple Circus will present circus performances in New York City and on tour in the 2017-18 Season, as well as continuing the established community outreach programs including the Circus of the Senses, Autism performances and Circus for All.
Big Apple Circus was conceived and founded by Paul Binder and Michael Christensen in 1977 as a nonprofit, leading presenter of live family entertainment, renowned for its performances and community programs. Big Apple Circus, filed a Chapter 11 petition in November 2016, citing debts amounting to US$8.3 million, against assets of US$3.8 million.