The Canadian ride system manufacturer Dynamic Attractions is a well-known name in the theme park industry. The company has created high-quality simulator rides, including the world’s first Flying Theater and the Robocoaster rides. Together with their sister company Dynamic Structures, the company got into financial troubles over the last years, resulting in insolvency. This week, news came out that the group is to be sold to Hong Kong-based financial services firm Promising Expert Limited (PEL) for CAD$ 2 million (US$ 1,5 million).
Dynamic Structures was founded in Vancouver in 1926, but they did not enter the amusement ride business until the end of the 1990s, when they assisted in steel work for Premier Rides roller coasters and observed steel fatigue for rides at Walt Disney World in Florida. Soon after, they started a collaboration with Walt Disney Imagineering, resulting in the ride systems for Test Track and Soarin’. Later, they collaborated with KuKa and RoboCoaster to create the ride system for Harry Potter and the Forbidden Journey.
Starting from 2011, the division of Dynamic Structures focusing on amusement rides was transferred to a new sister company called Dynamic Attractions. Though the portfolio of ride types remained relatively small, they were renown for the high quality of standards for their products. Their newest invention, the Dynamic Motion Theater, won several awards after the opening of the first installation in Futuroscope last year.
The most daring project of Dynamic Attractions was the development of the SFX Coaster, a roller coaster packed with effects like track drops or tilting mechanisms. The first of these was announced for Ferrari World Abu Dhabi for 2015, but technical difficulties delayed the opening for many years. The ride finally opened to the public last January. It is rumoured that the technical problems with the ride, and the accompanying financial liabilities were one of the reasons that drove the company into insolvency.
In March 2023, the financial problems at the company became clear when Dynamic Attraction posted the following announcement on LinkedIn: ”Due to unfavorable market conditions and the ongoing impact of the pandemic, we have had to recently downsize our Dynamic Attractions and Dynamic Structures teams. As a result, some of our highly skilled and experienced team members are now available for engagement.”
In the following months, the entire Dynamic Technologies Group (including Dynamic Structures, Dynamic Attractions and Dynamic Entertainment) was put on the market. According to an article by Forbes, from all bids that were made, only the bid by Promising Expert Limited offered to take over most of Dynamic’s operations. With a proposed purchase price of CAD$ 2 Million, this bid turned out to be the highest-value offer.
PEL however will not be taking over the manufacturing facility in Vancouver, which might result in a different focus for Dynamic Attractions. They might have to move to a different facility or lose the ability to manufacture the ride equipment themselves. Only time will tell.
