Palladin Consumer Retail Partners And Tailwind Concessions Form Operator-Driven Platform

BOSTON and WILMINGTON, N.C., Nov. 17, 2021 /PRNewswire/ -- Palladin Consumer Retail Partners, LLC ("Palladin" or "PCRP") (pcrp.com) announces an investment in Tailwind Hospitality, Inc., dba Tailwind Concessions ("Tailwind" or the "Company") (https://www.tailwindconcessions.com/) and the simultaneous acquisition of Air Host, Inc. (https://www.airhost.net/)  creating a leading airport concession platform throughout the United States.

Tailwind Concessions is a rapidly growing airport concessionaire specialized in providing full-service restaurants, bars, retail and gift shops in regional airports throughout the United States.  Founded in 2001 by partners Alan Giaquinto and Jeffrey Switzer, Tailwind has grown its operational footprint to 28 non-hub primary and small hub airports located across 18 states. At the majority of Tailwind's airports, the Company is the sole concessionaire providing premium service and high-quality food and beverages to customers.  In addition to striving for excellent service, Tailwind differentiates itself by providing unique, location-specific venues at each of its locations, meeting local tastes and needs, rather than implementing one brand across its network.  Simultaneous with the closing, Tailwind and Palladin are acquiring Air Host, an airport concessionaire operating full-service restaurants, bars, retail, and gift shops in seven other regional airports.  Palladin contributed the capital for Tailwind to complete the acquisition of Air Host and rapidly expand the Company's scale and footprint.  Jeff Switzer, the CEO of Tailwind, will lead the combined companies post-closing as Tailwind continues to refine its offering and expand into new airports across the United States and internationally.

Palladin, founded in 1998, has partnered with numerous founders and management teams to expand their consumer and retail companies.   The portfolio team led by Robert Fioretti, Managing Director, and Mark Schwartz, CEO, will work closely with the existing Tailwind team and Palladin operating partners providing marketing, financial, real estate, systems and other expertise to help expand the Tailwind Concession platform.  

Jeff Switzer, CEO of Tailwind Concessions, said "We are excited to partner with Palladin as we grow our network and work with our airport partners to provide premium services to business and leisure travelers.  The additional capital and operational resources will help to strengthen the leading services, product offerings and support that are the hallmark of our Company."

Mark Schwartz, CEO of Palladin, added, "We are excited to partner with Jeff and his team who are highly respected in the industry.  They are a very experienced group building a strong brand and dedicated to serving the needs of regional airports and their customers.  We are confident that, with additional capital and resources, we can work well together to significantly expand the Tailwind platform."   

Rob Fioretti, Managing Director of Palladin commented, "The experience of the management team and their commitment to employees and customer service provide an excellent foundation for growth and development.  We look forward to working with the team and growing Tailwind both organically and through acquisitions."

Advisors to Palladin included Latham & Watkins, LLP, Morgan Lewis & Bockius, LLP and Gray Robinson, PA for legal services, Crowe, LLP for accounting, Krauter & Company for insurance and Castlepole Retail for strategy. The company was represented by Gussis and Alexander, LLC for legal services and Valtus Capital for financial advice.  Air Host was advised by the Winchester Law Firm. 

ABOUT PALLADIN CONSUMER RETAIL PARTNERS (PCRP)
Palladin Consumer Retail Partners is a private equity firm with extensive experience investing in and building leading consumer brands.  Founded in 1998, the firm prides itself on working closely with founders and management teams to create value through strategic and operational initiatives.  Its principals have previously held CEO and other senior executive roles at several wholesale, retail, and related companies, and have invested in, financed, or managed over 100 public and private companies.  Current and former investments include Leapfrog Brands, Decowraps, PB Metro, Splash Car Wash, KT Tape, Nic+Zoe, InMotion Entertainment, J. McLaughlin, Things Remembered, Restoration Hardware, Spencer Gifts, Jamba Juice, Worldlynx, Multi-Flow, and Kwik-Tek. 

SOURCE Palladin Consumer Retail Partners, LLC

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