Capital One Bank announced it closed a seven-year $9.2 million Revolving Credit Facility for Hawaiian Falls Waterparks, which is owned by Horizon Family Holdings, LLC. Proceeds of the facility were used to refinance existing debt and complete construction of a new water park in Waco, Texas.
“This credit facility is an important step in improving Hawaiian Fall’s capital structure and enabling us to expand our business,” said David Busch, Hawaiian Falls CEO. “Capital One Bank has been a great partner and the team was very committed to developing a financing solution to help us grow organically and launch our new water park in Waco.”
Hawaiian Falls Waterparks, based in The Colony, Tx, has four water parks in the Dallas-Fort Worth area plus a new park in Waco, Texas. Horizon Family Holdings has been active in the amusement industry since the 1970’s.
“Capital One Bank is thrilled to partner with Hawaiian Falls to support the company’s growth and the development of the new water park.” said Mike Barber, Fort Worth Market President, Capital One Bank. “We look forward to building our relationship with this leader in the family entertainment industry.”
Hawaiian Falls invested $7.5 million in upgrades and new attractions at its Roanoke, Garland, The Colony and Mansfield, Texas waterparks, plus opened a new $10 million waterpark in Waco this year.
Capital One Bank’s Commercial Banking Business in Fort Worth and across Texas serves clients through a relationship-based banking model that seamlessly delivers an array of products and services including: loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.
Capital One Financial Corporation (http://www.capitalone.com/) is a financial holding company whose subsidiaries, which include Capital One, N.A., Capital One Bank (USA), N. A., and ING Bank, fsb, had $213.9 billion in deposits and $296.6 billion in total assets outstanding as of June 30, 2012. Headquartered in McLean, Virginia, Capital One and ING Direct offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
Hawaiian Falls opened its first Texas waterpark in Garland, northeast of Dallas, in 2003. Two years later, the company opened a park in The Colony, followed by a Mansfield park in 2008, and the Roanoke location last year. The Waco location opened this May. More information at www.hfalls.com.
