Starwood Capital Group Global and Kohlberg Kravis Roberts & Co. may team up to make an offer for Intrawest Corp., Toronto’s National Post newspaper reported over the weekend.
Vancouver, B.C.-based Intrawest, which owns Copper Mountain and operates Winter Park Resort in Colorado, hired investment bank Goldman Sachs in February to review a possible sale or merger of the company.
Since then, it has received more than 60 inquiries from potential buyers, according to the newspaper.
Neither Starwood Capital nor KKR, both private-equity firms, returned calls for comment late Monday afternoon.
Intrawest, with a $1.7 billion market capitalization, is North America’s largest ski-resort operator, followed by Avon- based Vail Resorts.
Last fall, Greenwich, Conn.- based Starwood Capital bought a majority stake in California’s Mammoth Mountain Ski Area from Intrawest for $365 million.
Intrawest’s stock closed at $34.84 on Monday, up $1.01, or 2.99 percent.
Staff writer Julie Dunn can be reached at 303-820-1592 or jdunn@denverpost.com.
