The Nicholas Family of Companies has acquired Glacier Ice Arena, a 63,000-square-foot indoor ice arena with two NHL-regulation rinks at 670 Lakeview Parkway in Vernon Hills, Ill.
The Nicholas Family of Companies, a second-generation family-owned and -operated organization headquartered in Mount Prospect with additional offices in Wisconsin and Florida, today announced it has acquired Glacier Ice Arena, a 63,000-square-foot indoor ice arena with two NHL-regulation rinks at 670 Lakeview Parkway in Vernon Hills, Ill. The Nicholas Family of Companies will own and manage the hockey and ice-skating rink and will commence large-scale renovations later this year without disruption to operations.
Glacier Ice Arena is the newest addition to the Nicholas Family of Companies’ portfolio of ice rink facilities, which also includes the Mount Prospect Ice Arena at Nicholas Sportsplex in Mount Prospect, Ill.; Rosemont Ice Arena, a new 103,000-square-foot twin-sheet facility in Rosemont, Ill., set to open in August; and Elk Grove Ice Arena, a 86,261-square-foot, two-rink complex in Elk Grove, Ill., set to break ground in August. All four will be operated by the company’s internal sports and recreation firm Spectate Group.
“Glacier is a thriving facility with a rich 25-year history that’s created a strong, vibrant community,” said Nick Papanicholas Jr., chief executive officer and managing director of the Nicholas Family of Companies, which includes Spectate Group. “While the growing popularity of hockey has increased interest in investing in rinks, we also have a track record for managing them, and we are confident we can thoughtfully enhance the experience for future generations of players and families.”
The National Hockey League is consistently reporting higher revenue, increased ratings and record-setting attendance, with arenas filled to more than 96% capacity, reflecting the surge in hockey’s popularity. Additionally, there were 389,820 registered youth hockey players in 2023-24, up from 340,000 in 2009-10, and over 90,000 girls under age 18 are registered to play, almost surpassing Canada, according to USA Hockey.
Steve Perlmutter, the managing member of Glacier Ice Arena since its founding in 1999, opened the rink after seeing firsthand the impact of youth hockey and figure skating through his children’s participation in them in Chicago’s northwestern suburbs. He got to know the Papanicholas family, also avid hockey players, through the sport, and his decision to sell the facility ultimately was driven by his longstanding respect and admiration for them.
“The Nicholas Family of Companies is a seasoned, professional organization we’re confident will continue delivering the experience we’ve worked so hard to establish,” said Perlmutter. “We are grateful for the community’s support of Glacier and the hard work of our staff, particularly General Manager Eric Schneider and Assistant General Manager Chris Howarth, who have been indispensable in creating the family-friendly experience here. Eric and other staff will stay on under new management, helping to ensure a seamless transition for our patrons.”
“My family and Steve have a great relationship, and I want to continue that by carrying forward his vision with appreciation and respect,” said Papanicholas. “Glacier Ice Arena was Steve’s passion project, and we want to honor that legacy.”
Glacier Ice Arena is affiliated with a club called Ice Dogs Hockey Club and serves as the primary venue for the Ice Dogs Hockey Association – home to roughly 15 teams – for both games and practices. The Nicholas Family of Companies will continue to support the association by providing essential access to the ice arena and safeguarding a smooth changeover that respects its ongoing use.
As with the Nicholas Family of Companies’ Nicholas Sportsplex and Rosemont Ice Arena, there is potential for the firm’s integrated hospitality company, Big Fish Hospitality Group, to be incorporated into future phases of planning following the acquisition. “In the future, we may add a restaurant element to Glacier Ice Arena,” said Papanicholas. “We envision this facility as more than just a place to skate – we want it to be a space where the community can gather before, during and after the puck drop.
“Four of my kids played hockey so I’ve spent a lot of time at ice rinks,” he added. “I can say with certainty that this space has great bones and is an efficient size to support the community’s growing interest in hockey.”
Glacier currently has 10 locker rooms; study rooms; party and meeting rooms; a snack bar; and a video game room. Nicholas and Spectate are evaluating additional services and amenities to enhance the experience for patrons while minimizing downtime.
“Our job at Spectate Group is to immerse ourselves with the initial vision of Glacier Ice Arena and understand the brand from the inside out,” said Ryan Zanon, director of operations at Spectate Group. “We want to embrace the learning curve that comes with this acquisition to continue the integrity of the rink.
“Spectate Group is growing its footprint in the hockey world, but each rink remains deliberately personal – anchored by boots on the ground, nurturing each community like its own ecosystem,” Zanon added.
