The Havasupai Tribe has acquired Grand Canyon Caverns, a northern Arizona tourist attraction and inn.
IBG Fox & Fin (Scottsdale) represented the Tribe in this unique acquisition, the terms of which are not disclosed at the parties’ requests. Managing director Troy Stapley (left) led the IBG Fox & Fin transaction team.
The business and property had been in receivership since February 2021, and the Tribe looked to IBG Fox & Fin for its M&A experience; to help assess value, structure, and negotiate acceptable terms; and to work through the due diligence and closing phases.
“This transaction and M&A process posed an exciting challenge,” Troy Stapley commented, “not only because of the unique nature of the business being purchased, but also due to the deal’s complex financial and legal aspects.”
He went on to describe as “truly a collaborative effort” the interaction among IBG Fox & Fin, the parties’ attorneys, and Sonoran Capital Advisors, which acted as receiver and represented the seller in the successful transaction.
“I can't wait to see what the new owner, the Havasupai Tribe, can do with this great addition,” said Bryan Perkinson, Sonoran Capital’s founder and managing director.
Grand Canyon Caverns is a landmark property and business located southwest of Grand Canyon National Park on historic Route 66. It includes a motel, campsite, full-service restaurant and bar, and almost 1,000 acres of land with hiking and biking trails.
