After searching for an investor, and eventually a buyer, Huntsman Springs has officially changed hands.
On Thursday evening the resort announced to its members and property owners that BDT Capital Partners, based in Chicago, had acquired Huntsman Springs.
“We’re excited about having them as new owners,” said current Huntsman President Dale Prows, who has been asked to continue in his position. “I’m delighted to do so, I’m impressed by their vision and their depth of resources.”
BDT describes itself as a “merchant bank” that specializes in working with family-owned and founder-led companies to further their visions. Also Prows said that while the company manages funds that invest in companies, this investment is being made on behalf of the firm’s owners.
He said that no drastic changes are planned and that the Teton Valley residents driving past will see no changes in signage or breaking of ground.
“It will be very much business as usual,” he said.
The same business staff will continue to manage the resort and the new owner plans on being, “very transparent to both the employees, the community, members and owners.”
There will be no changes to any of the signs because the resort will retain the Huntsman Springs name.
Prows said that just a few months ago Jon Huntsman was thinking of changing the name of the resort ahead of a possible sale and the fact that the resort will retain the Huntsman family name is a sign of the confidence the family has in the new owners.
He said BDT is “such a great fit and is committed to preserving the Huntsman Springs community culture and uniqueness, and unlocking the potential that is here.”
At first, Huntsman Springs was looking for investors in the resort, but in recent months that changed into a search for someone to buy the entire resort. In the announcement to Huntsman Spring’s members and property owners, Jon Huntsman explained why the sale was necessary and said he fully trusted the new owners.
“I deeply regret my personal health has been so challenging the past few years that a move of this kind is required,” he wrote. “There could be no more trustworthy and honorable organization to ‘step in’ at this point than the BDT Group."
In 2014 the City of Driggs gave its approval to the resort to build a luxury resort hotel and lodge that was projected to employ around 200 people. In March of this year the Driggs City Council gave the company got more time before it had to begin the hotel project, while it looked for investors.
The resort did not announce any specific plans for construction with news of the ownership change.
Prows said the sale to BDT is effective immediately and that more announcements will be issued as management defines the strategy for the future of the club.