ClubCorp completes purchase of Sequoia Golf

Sequoia Golf announced it has completed the sale of its stock and assets for $265 million to ClubCorp. ClubCorp, a publicly-traded company, is a leading owner-operator of private golf and country clubs, as well as business, sports and alumni clubs in North America.
 
Joe Guerra, president and CEO of Sequoia Golf, said, “It has been exciting and fulfilling to see how our company emerged as an industry leader in such a short time. We’re very grateful to everyone who helped make that happen and we look forward to being part of the ClubCorp family.”
 
Sequoia was created by Guerra and its founding partner Parthenon Capital, which has worked with the company since its inception. Launched in 2003, Sequoia acquired the original seven Canongate properties in south Atlanta for approximately $55 million from the Patten Seed Company that was controlled by the Roquemore family. Since then, Sequoia has grown to include 50 owned and leased golf and country clubs, and managed clubs throughout the country. 
 
Guerra, who will serve as a senior advisor to ClubCorp, said, “ClubCorp’s impressive reputation and consistent growth served as the best fit for our employees, members and partners. For years, ClubCorp has offered members a strong network of clubs, amenities and products and has many exciting improvements in the works.”
 
Sequoia was advised by Robert W. Baird & Co., Deloitte Corporate Finance, Kirkland & Ellis LLP and Greenberg Glusker.