Dundon Signs Agreement to Purchase Hurricanes
Entrepreneur will take controlling interest in team, pending NHL approvalby Terrell Williams @NHLCanes / Carolina Hurricanes News Release
RALEIGH, NC - Don Waddell, President of Gale Force Sports & Entertainment, today announced that Dallas entrepreneur and philanthropist Tom Dundon has signed an agreement to purchase a majority stake in the National Hockey League's Carolina Hurricanes. Pending league approval and the finalization of the sale, Dundon will take control of all team operations.
"I am thrilled to continue to build upon what Peter Karmanos started in Raleigh," said Dundon. "The Hurricanes are a team on the rise, and I believe we have an opportunity to take the franchise to the next level. I'm ready to get to work."
Dundon is the Chairman and Managing Partner of Dundon Capital Partners, a Dallas-based private investment firm. His investment activities have spanned the entertainment, healthcare, real estate and hospitality, technology, automotive and financial services sectors. He is the majority owner of Employer Direct Healthcare and serves as the co-chairman of Topgolf. He and his wife, Veruschka, have five children and reside in Dallas.
Peter Karmanos Jr., who originally purchased the franchise in 1994, will maintain an equity stake in the team. In 1997, Karmanos relocated the team to North Carolina, where it has captured three division titles, two conference titles and the 2006 Stanley Cup Championship. In 2015, Karmanos was inducted into the Hockey Hall of Fame in the category of Builder, in recognition of his more than four-decades of achievements and contributions to the sport.
"Tom has had tremendous success in business, and I fully expect that to continue as he takes control of the Hurricanes," said Karmanos. "I look forward to working with him, and bringing another Stanley Cup to North Carolina."
About Dundon Capital Partners
Dundon Capital Partners LLC is a private investment firm headquartered in Dallas, Texas. Founded in 2015, Dundon Capital Partners LLC is focused on private equity and credit investments across industries, and looks to partner with best-in-class management teams to help companies achieve their long-term objectives. The firm is led by founder Tom Dundon, its Chairman and Managing Partner, who has more than 20 years of experience as an entrepreneur, operator, and investor across numerous industries.