HOUSTON — Invited Clubs is expected to be sold to the investment firm that took it public more than a decade ago as dealmaking continues to heat up in the golf industry.
Denver-based private equity firm KSL Capital Partners has agreed to buy the Texas-based operator of golf and membership clubs for roughly $3 billion including debt, according to a Reuters report citing unnamed sources.
KSL would become Invited’s owner for a second time if the acquisition is completed. KSL previously purchased Invited, then known as ClubCorp, for $1.8 billion in 2006 and then took the company public through an initial public offering in 2013.
The seller would be New York-based financial giant Apollo Global Management Inc., which acquired ClubCorp in a $1.1 billion take-private deal in 2017.
Invited’s portfolio consists of more than 150 clubs across the United States. Those include approximately 10 clubs in Greater Houston, including traditional country clubs with 18-hole golf courses as well as social clubs known for hosting business gatherings.