The Apollo Group to Leverage 55-Year Track Record to Provide Award-Winning, Full-Service Hospitality Management Services to the Cruise Industry
MIAMI--BUSINESS WIRE--
The Apollo Group (“Apollo” or the “Company”), the leading provider of full-service hospitality management services to the cruise industry, has announced a transformative growth investment from funds managed by Oaktree Capital Management, L.P. ("Oaktree"). Apollo specializes in essential and turnkey hospitality services including crew management, food services, food and beverage distribution, end-to-end procurement and logistics and other related services. This investment will enable Apollo to continue to provide best in class service to its existing customer base while expanding its capabilities in food and beverage distribution.
"As we explored potential investment partners, Oaktree stood out because of its hands on approach and storied history of successful investing in F&B and hospitality management companies," said Jose Ramon Barrera, CEO of Apollo. “Oaktree’s significant capital resources and experience in hospitality management will be critical to achieving Apollo’s strategic growth plan.”
“Apollo Group and its management team have achieved impressive results and established themselves as the go to supplier for hospitality services in the cruise industry. With our investment and partnership, we believe Apollo will be able to significantly expand its footprint and service offering to enhance the value it is already bringing to its blue-chip customer base," said Jared Frandle, Managing Director for Oaktree’s Special Situations Strategy.
“We are very excited to partner with Jose and his team and see significant opportunity for Oaktree to work hand in hand with the Management team to expand Apollo’s capabilities,” said Matt Wilson and Jordon Kruse, Co-Portfolio Managers of Oaktree’s Special Situations Strategy. “The cruise industry has significant tailwinds, and we believe Apollo is well positioned to capitalize given the critical nature of their service offering and leading market position.”
For more information on The Apollo Group, please visit www.theapollogroup.com.
Advisors
Regions Securities LLC served as the exclusive financial advisor to The Apollo Group, and Holland & Knight LLP served as legal advisor to The Apollo Group. Latham & Watkins served as legal advisor to Oaktree.
About The Apollo Group
The Apollo Group is an award-winning, full-service hospitality management company headquartered in Miami, Florida. The Company was founded in 1969 and had been family owned and operated prior to its partnership with Oaktree.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
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