Country Club Owner ClubCorp Being Acquired

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ClubCorp, owner of the Anthem Golf & Country Club, is being acquired for $1.1 billion by Apollo Global Management, a firm that specializes in buying distressed companies. The transaction, announced in July, is expected to close in the fourth quarter of this year.

Rumors in April that Anthem Golf & Country Club itself was for sale turned out not to be true, though ClubCorp had been considering a possible sale of the entire company. The publicly traded company has struggled with disappointing earnings, slow growth and a depressed stock price, market analysts say. Apollo’s offer was a 30 percent premium over ClubCorp’s share price.

“We plan to leverage Apollo’s resources and expertise while working with ClubCorp’s dedicated team to continue to grow the business and provide the highest level of service and club offerings to members,” David Sambur, a senior partner at Apollo, said in a statement.

“We expect the transaction will have little impact on day-to-day operations, and it generally remains business as usual at all the company’s clubs and locations,” ClubCorp spokesperson Andrew Siegel told In&Out.

Siegel could not comment on Apollo’s plans, and Apollo officials did not respond to questions about any possible changes that might affect Anthem Golf & Country Club.

Golf has been in a long, slow decline. Participation is down 20 percent since 2003, according to data from the National Golf Foundation published by Bloomberg, and more than 800 courses have closed around the country in the past decade. But the latest numbers show a glimmer of hope, according to Golf Digest: In 2016, the number of new golfers rose compared to the previous year, as did the number of “committed” golfers, even as the total number of golfers fell 1.2 percent.

ClubCorp owns more than 200 golf and country clubs and other clubs in 27 states, the District of Columbia and two foreign countries. Discuss this article on Facebook >>>


Help Save Our Community
Small businesses are the lifeblood of our country and even more so this community. Supporting local businesses during this crisis can help keep our community economically viable. Please strongly consider supporting the businesses below, In&Out Magazine's display advertisers, as well as those in the Classifieds section of the magazine (see the full April 9 issue in PDF form). Many of these businesses have been part of the fabric of this community for two decades, not just serving our professional, service and retail needs but stepping up to support local charities, sports teams and so much more. Tip: If you know you’ll need to schedule a service, consider contacting a local business you trust and paying the standard fee for the deferred service. The links below go to their web sites.

Adult & Pediatric Allergy Associates • 602-242-4592
Anthem Senior Living • 602-909-9550
Appliance Pros • 502-501-5501
Business Network of Anthem • 623-455-9630
Carroll Law Firm • 623-551-9366
Century 21 Real Estate - Jeff Huff • 623-223-1221
Creative Home Enhancements • 623-551-5409
Daisy Dream Homes Real Estate • 623-879-3277
Daisy Mountain Dentistry • 623-551-5250
Desert Foothills Air Conditioning • 480-595-0938
Edward Jones • 623-551-0523
Element Dental Centers • 623-551-5555
Hand & Stone Massage • 623-551-6602
Kendallwood Design • 602-252-3844
Kodiak Roofing • 602-501-7717
Luv My PC • 480-703-6609
Merrill Gardens • 623-201-4881
North Valley Water Solutions • 623-551-0515
Preferred Business of Anthem • 623-551-0523 
Prickett Realty • 623-551-8111
ProSkill Services • 623-551-7473
RE/MAX Professionals - Mike Higgins • 623-640-7502
Rise Above Remodeling • 623-551-2013
Soft Water Plus • 623-551-7383
SonoranScapes Landscaping • 602-842-9948
State Farm Insurance - Justin Simons • 623-551-3700
Storage at Anthem • 623-226-8634
Sunset Cabinets • 623-687-6579
Thompson & McGinnis Attorneys at Law • 602-952-2666
Titan Tree Care • 623-444-8448
Titan Pest Control • 623-879-8700
Wyman Plumbing & Mechanical • 623-551-6688

For more local businesses, see In&Out Magazine Classifed Ads >>>  
 
Robert Roy Britt
NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. .

Robert Roy Britt

NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. .

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