- Staff Atlanta Business Chronicle
The operator of eight Atlanta-area business and golf clubs has filed for a $100 million initial public offering.
Dallas-based ClubCorp Holdings Inc. says in a July 12 filing with the Securities and Exchange Commission that it hopes to raise up to $100 million in the stock offering. Its shares would be listed on the New York Stock Exchange.
ClubCorp owns Country Club of Gwinnett, Country Club of the South, Eagles Landing Country Club, Northwood Country Club, Bear's Best Atlanta, Laurel Springs Golf Club, the Buckhead Club and the Commerce Club. It also owns Woodside Plantation Country Club in Augusta, Ga.
In 2010, ClubCorp acquired Country Club of the South for $7.4 million after it had been foreclosed upon. The company then invested $2 million in refurbishments. It says Country Club of the South's membership has since grown more than 8 percent each year.
In addition to its Georgia clubs, ClubCorp owns 15 in and around Dallas, eight in the Los Angeles area, four near Sacramento, Calif., four in and around Phoenix, and four near Tampa, Fla.
The company says it lost $27 million on revenues of $535 million in 2012. It plans to use the proceeds from the IPO to repay debt.
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