DELRAY BEACH, Florida – Troon, a golf industry leader in providing golf and club-related leisure and hospitality services, announced today that it has signed a definitive agreement for TPG Capital, the private equity platform of alternative asset firm TPG, to make a significant strategic investment in the company.
TPG Capital is joined by Symphony Ventures, the investment fund of PGA Tour star Rory McIlroy, who has agreed to invest in the company in partnership with TPG. The new investment provides Troon with additional capital, resources, and expertise to build on its market leading position. Existing investor Leonard Green & Partners (“LGP”) will retain a significant investment in the business.
The transaction is expected to close in December and is subject to regulatory approvals and other customary closing conditions.
“Today’s announcement is an exciting milestone for our company, and we are incredibly proud to welcome TPG and Rory to the Troon family,” said Tim Schantz, CEO of Troon. “Golfers are at the core of everything we do at Troon, and over the years we have built a business that combines deep industry expertise with hospitality-caliber customer service to help our clients create first-class experiences for their customers, members, and guests. The investment from TPG, a leading investor and business builder, is a testament to the quality and strength of our offering. We look forward to working with them and the team at LGP to continue accelerating our growth while providing even more resources for our valued clients and partners.”
Troon currently provides operational, management, and advisory services to more than 620 golf and leisure facilities globally. Troon’s services can be tailored to each location’s specific needs and strategic direction, from agronomy and course development, to membership sales and marketing, and community association management. In addition to its third-party management offering, Troon owns and leases more than 50 courses that it operates directly, including the company’s flagship property, Troon North Golf Club in Scottsdale.
“Through its impressive scale and operating expertise, Troon has developed a trusted brand that delivers differentiated value to its clients, creating superior experiences for golfers everywhere,” said Paul Hackwell, Partner at TPG Capital. “We are excited to be partnering with this great group of investors, operators, and experts to help Troon reach its next level.”