Android app on Google Play

ClubCorp Holdings Files $100M IPO

July 12, 2013 3:27 PM EDT Send to a Friend
ClubCorp Holdings, Inc., filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $100 million. The company plans to list on the New York Stock Exchange, but hasn't selected a ticker to register under.

The offering is being made via Goldman Sachs, Jefferies, and Citigroup.

After the completion of this offering, affiliates of KSL Capital Partners, LLC ("KSL") will continue to beneficially own a majority of the voting power of all outstanding shares of ClubCorp's common stock. As a result, it will be a "controlled company" within the meaning of the corporate governance standards of the NYSE.

Brief financials from the company: Our large base of memberships creates a stable recurring revenue stream. As of March 19, 2013, our owned and operated clubs have over 145,000 memberships, including over 350,000 individual members. For the fiscal year ended December 25, 2012, membership dues totaled $347.1 million, representing 46.0% of our total revenues. During the same time period, our membership retention was 83.6% in golf and country clubs and 77.1% in business, sports and alumni clubs for a blended retention rate of 80.7%.

ClubCorp Holdings is a membership-based leisure business and a leading owner-operator of private golf, country, business, sports and alumni clubs in North America.




You May Also Be Interested In


Related Categories

IPOs

Related Entities

Citi, Jefferies & Co

Add Your Comment