Who says you can’t go home again?
KSL Capital Partners, a private equity firm with headquarters in Denver, acquired Invited Clubs on June 9 from Apollo Global Management for a reported $2.6 billion to $3 billion.
It is the second time KSL has owned Irving, Texas-based Invited Clubs, which is the country’s largest owner and operator of private clubs.
Invited Clubs was founded as ClubCorp by Robert Dedman, Sr. in 1957.
KSL first owned acquired ClubCorp in 2006 from the Dedman family, four years after Robert Sr. died, and took the company public in 2013.
Apollo bought ClubCorp from public markets in 2017 and rebranded it as Invited Clubs in 2022.
Among the clubs in Invited’s portfolio are:
- Firestone Country Club, Akron, Ohio
- Mission Hills Country Club, Rancho Mirage, California
- The Woodlands (Texas) Country Club
- TPC Craig Ranch, McKinney, Texas
- Aspen Glen Club, Carbondale, Colorado
The company has trimmed its portfolio in recent years, but is focused on growth and acquisitions in the future, the company said.
“As we move forward with KSL Capital Partners, we remain focused on executing our growth strategy, investing in our clubs and member experience, and creating long-term value for our members, employees, and communities,” a company spokesperson told Reuters.
KSL partner Michael Mohapp said in published reports that KSL will work alongside the Invited team and make continued investment in the portfolio. David Pillsbury will continue as the company’s chief executive officer, a position he has held since 2018.
