DENVER | KSL Capital Partners (KSL), a leading private equity firm, today announced that it has completed its acquisition of ClubCorp, Inc., the world leader in delivering premier golf, private club, and resort experiences. ClubCorp’s portfolio of assets includes nearly 170 clubs and three renowned resorts.
Among ClubCorp’s nationally recognized resort and golf properties are Barton Creek Resort & Spa in Austin, Texas (site of two Canadian Tour events), and The Homestead in Hot Springs, Virginia (America’s first resort founded in 1766); Firestone Country Club in Akron, Ohio (site of the World Golf Championships – Bridgestone Invitational), and Mission Hills Country Club in Rancho Mirage, California (home of the Kraft Nabisco Championship). The more than 60 business clubs and business and sports clubs include the Boston College Club, City Club on Bunker Hill in Los Angeles, Columbia Tower Club in Seattle, Metropolitan Club in Chicago, and the City Club of Washington, D.C.
As part of the acquisition, Eric Affeldt, a former partner of KSL Capital Partners, has joined ClubCorp as President and Chief Executive Officer. In addition, KSL Resorts, an independent management company, will manage The Homestead and Barton Creek Resort & Spa for ClubCorp.
Citigroup Corporate and Investment Banking acted as M&A advisor, and Simpson Thacher & Bartlett LLP acted as M&A legal advisor to KSL. Perkins Coie LLP and Brownstein Hyatt & Farber, P.C. acted as legal advisors with respect to the financing for the acquisition. Citigroup Global Markets Realty Corp. led the financing for the acquisition.
About KSL
KSL Capital Partners is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. The investment in ClubCorp falls within each of these sectors. KSL Capital Partners has offices in Denver, Colorado and La Quinta, California. For more information, please visit
www.kslcapital.com.
Notable investments made by the principals of KSL include:
- Vail, Beaver Creek, Breckenridge and Keystone Mountain Resorts
- La Quinta Resort & Club and PGA West in La Quinta, California
- Doral Golf Resort & Spa near Miami, Florida
- Grand Wailea Resort Hotel & Spa on Maui in Wailea, Hawaii
- Arizona Biltmore Resort & Spa in Phoenix, Arizona
- La Costa Resort and Spa in Carlsbad, California
- Hotel del Coronado near San Diego, California
- Rancho Las Palmas Resort & Spa in Rancho Mirage, California
About ClubCorp
Founded in 1957, Dallas-based ClubCorp and its affiliates own or operate nearly 170 golf courses, country clubs, private business and sports clubs, and resorts. ClubCorp’s annual gross revenue for 2005 was $1.04 billion. The company’s 18,000 employees serve the nearly 200,000 member households and 200,000 guests who visit ClubCorp properties each year. For more information, please visit
www.clubcorp.com.
Kate Johnston Wark
