The nation’s largest franchise of indoor inflatable playgrounds, Pleasanton-based PIU Investments LLC (better known as Pump It Up), has been purchased by Tregaron Capital of Palo Alto.
Pump It Up, founded seven years ago by Brenda Dronkers, has grown into a nationwide chain of 152 locations that went from $3 million worth of annual sales in 2003 to $55 million last year.
It began franchising individual locations three years ago.
Dronkers brought Terry Dillenburg on as a partner in 2002. Both are expected to continue as expert consultants for Gordon Keil, who became president and CEO of Pump It Up nearly a year ago. Tregaron Capital officials said they will retain Keil at the helm.
“Brenda and Terry’s drive and tenacity made Pump It Up the first, the biggest and the best in the industry,” Keil said in a statement. “Overcoming the challenges of establishing a concept from infancy, they had the vision to get us to a very good place.”
Keil said Tregaron would provide “precisely the kind of long-term investment strategy and management skills to fuel continued nationwide expansion and build on the success of existing Pump It Up locations.