Reuter: Golf Clubs Operator ClubCorp Files for $100 mln IPO

Golf and country clubs operator ClubCorp Holdings, backed by KSL Capital Partners, filed with U.S. regulators to raise up to $100 million in an initial public offering of its shares, Reuters reported.

(Reuters) – Golf and country clubs operator ClubCorp Holdings filed with U.S. regulators to raise up to $100 million in an initial public offering of its shares.

The Dallas-based company, which owns and operates a network of more than 150 golf and country clubs, business clubs, sports clubs and alumni clubs, did not disclose the number of shares it plans to sell or their expected price range.

The company has applied to list its shares on the New York Stock Exchange but is yet to finalize a ticker symbol.

ClubCorp, founded in 1957 with a country club in Dallas, was bought by affiliates of KSL Capital Partners, a private equity firm specializing in travel and leisure businesses.

KSL will continue to own a majority of the voting power, post IPO.

ClubCorp, which derives three quarters of its revenue from golf and country clubs, posted a loss of $27.3 million on revenue of $535.3 million in 2012.

Goldman Sachs & Co, Jefferies and Citigroup Global Markets are underwriting the offering.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.