US-based Great American Family Parks (GFAM) has raised $430,000 through a private placement of its securities to allow it to begin the process of building a portfolio of regional theme parks, amusement attractions and recreational facilities.

Dr Larry Eastland, president, said that as long as the company can secure the necessary capital, it will be pursuing a strategy to position itself as a market leader in ownership and management of regional theme parks.

Dale Voorhis, president of GFAM Management Company, a division of GFAM, said: “Regional theme parks are the largest sector of the theme park industry, accounting for 70 per cent of total annual sales.

“As the major seasoned players in regional theme parks – such as Six Flags – move into a different phase of their businesses, they have left a major vacuum in regional theme park management that GFAM seeks to fill.

“With the industry expected to grow 23.8 per cent over the next few years, we believe now is the perfect time to enter the park industry with an aggressive acquisition strategy.”

The company is targeting theme parks and themed attractions with between 300,000 and a million annual visitors.