A concessionaire with operations in parks across the country has sold a majority interest to a California-based private equity firm/Wikipedia Commons, Lorax

A concessionaire with operations in Acadia National Park, Mammoth Cave National Park, Death Valley National Park, and several other units of the National Park System has sold a majority interest to a private equity firm.

Back during the summer Shane Ortega, president of Ortega National Parks, told the Mount Desert Islander news outlet that it wasn't being purchased by another company. But last week it was announced that Nolan Capital, Inc., had become the company's majority owner. The announcement, which didn't cite any financial numbers, said the sale would allow Ortega to continue to expand its operations.

“We are extraordinarily proud to partner with the Ortega family in this investment," said Peter Nolan, chairman of Nolan Capital. "ONP has had a long history of service and it is our mission to continue as a responsible steward of our park partner’s assets and resources. We are committed to serving our guests and visitors while respecting the environment and furthering the mission of these great public assets.”

ONP is a seventh-generation family business most recently led by owners Armand Ortega, Shane Ortega, and Tom Williamson. They are expected to remain active as minority owners and board members. Along with Peter Nolan, Shane Ortega will also serve in the capacity of co-chairman of the board.

Along with operations in Acadia, Mammoth Cave, and Death Valley, Ortega also operates in Muir Woods National Monument, Carlsbad Caverns National Park, and Great Smoky Mountains National Park. It also has some operations in state parks around the country.

“Everything about Nolan Capital matches what ONP has stood for and built the business on,” said Frank Pikus, ONP CEO. “We are excited about how the team at Nolan Capital can help us continue to grow and diversify our business, while staying true to the Ortega family roots.”

Nolan Capital, Inc., also a family business, is headquartered in Hermosa Beach, Calif., with ownership interests in other retail endeavors, restaurant operations, manufacturing and real estate investments. Nolan Capital takes a long-term investment perspective.

Ortega surprised many back in 2013 when the Santa Fe-based company took over concessions at Acadia --  running the Jordan Pond House restaurant and retail operations at the Pond House, Cadillac Mountain, and Thunder Hole, which combined gross nearly $6 million annually  -- that had been handled by a Bar Harbor, Maine, company for eight decades. At the time supporters of The Acadia Corp. mounted a petition drive to have Congress investigate how the 10-year contract was awarded.

The Acadia Corp. argued unsuccessfully that Ortega made commitments beyond what the Park Service was seeking in the new concessions contract, was awarded points in the evaluation process for those commitments, but that the Park Service did not include those commitments in the eventual contract because they were either infeasable to implement "or of no value" to the agency.

The Acadia Corp. also maintained that some of the contract requirements made upon Ortega couldn't be achieved because some of the menu items mentioned were either not obtainable or illegal in Maine and New England. In one instance, the company claims, Ortega proposed to "serve roe from a threatened or endangered fish," something contrary to sustainable practices and which indicates the review panel was "not competent to conduct an evaluation in this area."