In a deal that makes the largest golf-club management firm even larger, Troon announced it has acquired Indigo Golf Partners, the company formerly known as Billy Casper Golf. Terms of the deal were not disclosed.
“This transaction supports our continued growth and reach in the industry, while bringing additional support, expertise and resources to associates as well as current and prospective clients,” said Troon president and CEO Tim Schantz.
Troon’s purchase of Indigo Golf Partners, which specializes in full-service property management as well as assistance in specific segments of the golf business, continues an aggressive buying spree over the last few years, including the acquisition of Cliff Drysdale Management, the nation’s largest tennis management company, in July 2018; RealFood Hospitality, Strategy and Design in February 2019; OB Sports Golf Management in April 2019; and Green Golf Partners in May 2019.
Troon substantially increases its portfolio of facilities with the acquisition of Indigo Golf Partners – the company now provides managed services at 585-plus locations around the globe, including managing 630-plus 18-hole equivalent golf courses. In particular, the deal diversifies Troon’s portfolio of client properties that had been heavily weighted to the high-end daily-fee category. Indigo Golf Partners, which focused primarily on providing services to the municipal golf space and facilities with lower price points, brings more accessible golf under the Troon umbrella.
Indigo Golf Partners is one of the largest golf-course management companies in the United States, owning and operating more than 160 golf courses, country clubs and resorts in 29 states. Members and guests of Indigo-managed facilities will continue to experience the same level of service, course conditions and food and beverage options, the company said in a release.
”Leaving the industry better than we found it has been a guiding principle of Indigo Golf Partners, and Bob Morris and I hope to have achieved that in our over 30 year history in the industry,” said Peter Hill, co-founder, chairman and CEO of Indigo Golf Partners. “Troon aligns with our commitment to quality service and has a complementary course portfolio making it the right company for us to join. We are confident in growth ahead for Indigo and appreciate the dedication and commitment of all team members and partners who have made our great company what it is today.”
In November, Billy Casper Golf, which was founded in 1989, rebranded as Indigo Partners. In January 2019, the company spun off the division Buffalo Groupe, which focuses on the business-to-business sector of the industry, perhaps setting up for such a sale of the course-management business down the road. Indigo Golf Partners is expected to maintain its headquarters in Reston, Virginia and to continue and support managed-clubs throughout Troon’s full family of brands, including Troon Golf, Troon Privé, Honours Golf, OB Sports and more.
“Peter Hill and I have been good friends for many years,” said Troon founder and executive chairman Dana Garmany. “While we have been friendly competitors over time, we’ve always shared a mutual admiration for each other’s company. We share common values and a similar approach to putting our client’s interests first and foremost, and working to impact the golf industry in a positive fashion.”
While Troon extends its lead as the largest player in the course-management sector, there is still more than 80 percent of the 14,500 golf courses in the U.S. that aren’t run by a professional management company, meaning there remains plenty of room for growth.
Credit: Source link