Troon and Invited, two of the world’s largest golf course operators, announced Saturday a strategic partnership in which Troon will acquire the management of 18 clubs previously under Invited’s umbrella.
The Dallas-based Invited, which rebranded from the name ClubCorp last year, owns and operates more than 200 clubs and has more than 400,000 members. That doesn’t change.
It’s Invited’s Management Services business, which served as a third-party operator of the 18 clubs included in the deal, that switches hands to Troon. The Scottsdale, Arizona-based Troon specializes in third-party club management and hospitality, with more than 760 18-hole equivalent courses around the world under its banner.
Terms of the acquisition were not disclosed. Among these managed clubs is PGA National in Florida – Invited managed the PGA National Members Club, the private country club element at PGA National Resort & Spa, longtime home to a PGA Tour event. Another of the notables among the 18 is the still-in-development Trout National The Reserve in New Jersey, which was founded by baseball star Mike Trout with a course to be designed by Tiger Woods. (The full lineup of 18 clubs is listed below in the media release.)
As part of the deal, Invited and Troon will introduce a program that allows Invited members to play participating Troon-managed resort and daily fee courses as well as Invited’s portfolio of more than 150 clubs and 200 courses. Members of the former Invited Club Management facilities will continue to enjoy Invited’s XLife benefits, playing a network of hundreds of private clubs and renowned resorts.
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The management teams and all employees of the clubs to be managed by Troon will retain their roles in the new arrangement, the companies said in a media release announcing the news. Invited senior vice president Seth Churi and regional vice president Peter Faraone will move to similar positions within Troon, continuing to support operations at the 18 clubs with the backing of Troon’s resources.
“We are excited to welcome these outstanding clubs, their members, management teams and associates to the Troon family,” Troon president and CEO Tim Schantz said in the media release. “We have long respected Invited’s contributions to our industry. This relationship creates new opportunities for each organization and perfectly aligns with our respective missions and focus.”
Troon and Invited said in the media release they have planned additional collaboration to leverage their mutual expertise.
“We are thrilled to embark on this historic relationship with Troon. By working together and pooling together our strengths, we can become even more dynamic in providing resources and infrastructure to our members and clubs,” David Pillsbury, CEO of Invited and the former president of the PGA Tour’s TPC network of clubs, said in the media release.
In 2017, Invited was purchased and taken private by Apollo Global Management in a deal valued at $2.2 billion. TPG Capital is a major investor in Troon. Each company also has PGA Tour golfers involved, with Jordan Spieth as an investor and ambassador for Invited, while Rory McIlroy is an investor in Troon.
Troon has not shied away from large acquisitions in the past 16 years, having purchased 13 companies since 2007.
The full media release is posted below, including the names of the 18 clubs involved in the acquisition: