The company that manages the Typhoon Texas Waterparks has created a new firm with the intent of investing in and operating additional waterpark.

The new company is called Pyek Group (pronounced Peak Group) and will remain based in Houston.

Pyek Group's next move is imminent. The owners of competing Las Vegas waterparks Cowabunga Bay and Wet’n’Wild plan to merge, and Pyek Group has agreed to invest in the new partnership once finalized. The new partnership is expected to operate both parks under the Cowabunga brand, with Wet ‘n’ Wild Las Vegas re-opening next season as Cowabunga Canyon.

“We are excited about the possibility of growing the Cowabunga brand in Las Vegas. We have a great opportunity to extend our family-focused entertainment legacy across the entire Vegas market,” says Shane Huish, owner of Cowabunga Bay.

Added Pyek Group President Evan Barnett: “This is a great opportunity to be part of a new venture with like-minded partners in another world-class entertainment venue. It makes sense to create synergy under the same Cowabunga brand once both parks are owned by the same company,”

Pyek Group principals include Typhoon Texas founders Keith Dalton, Terry Hlavinka and Ray DeLaughter.

Cade Vereen, who previously served as general manager of Typhoon Texas in north Austin, has been named general manager for the Las Vegas-area waterparks. He brings more than 10 years of waterpark experience.

Typhoon Texas opened its first waterpark in west Houston in 2016. The following year, it acquired Hawaiian Falls in north Austin and renamed it Typhoon Texas.

The 22-acre Wet 'n' Wild Las Vegas, soon to be called Cowabunga Canyon, opened in 2013. The 23-acre Cowabunga Bay opened in 2014.