Concert Golf Partners, a portfolio company of Clearlake Capital, closes new strategic investment from Centroid Investment Partners, owner of TaylorMade

September 28, 2022 By Marvin Larin Comments are Off

CONCERT GOLF PARTNERS, A PORTFOLIO COMPANY OF CLEARLAKE CAPITAL, CLOSES NEW STRATEGIC INVESTMENT FROM CENTROID INVESTMENT PARTNERS, OWNER OF TAYLORMADE

Investment Supports Concert Golf’s Portfolio Expansion and Club Enhancement Initiatives

Lake Mary, FL, Santa Monica, CA, and Seoul, Korea, – September 28, 2022 – Concert Golf Partners (“Concert Golf,” “CGP” or the “Company”) announced today that it has received a strategic investment from Centroid Investment Partners (“Centroid”), a Seoul-based private equity firm and the owner of TaylorMade Golf Company (“TaylorMade”). Centroid joins Clearlake Capital Group, L.P. (“Clearlake”) and management as investors in Concert Golf, a boutique owner-operator of private golf and country clubs focused on providing premium lifestyle offerings and amenities for its members. Financial terms of the transaction were not disclosed.

Clearlake originally invested in Concert Golf in partnership with the founding management team in April 2022. Since Clearlake’s investment, Concert Golf has welcomed several new private clubs to its portfolio and continued its track record of executing capital investments and improving service offerings for its membership base. In addition to providing incremental primary capital, Centroid’s active participation in the golf industry brings further sector expertise and partnership opportunities to build on Concert Golf’s mission of enhancing its membership experience.

“We admire Centroid’s continuing commitment to growing the game of golf via their investment in TaylorMade and now Concert Golf,” said Peter Nanula, CEO of Concert Golf. “It is clear that Centroid shares our passion for investing in the game, particularly in golf professionals and overall game improvement for each golfer at every skill level, and we welcome their participation in our next phase of growth in partnership with our lead investor, Clearlake. Our goal remains the same – to continue growing our portfolio of private clubs and to provide an enjoyable experience for our members. We look forward to working with Centroid and Clearlake to continue to enhance our offerings for current members and add additional properties to our portfolio.”

David Abeles, President and CEO of TaylorMade, added, “It is exciting to see Centroid take a further stake in the growth of our game through their investment in Concert Golf. Concert Golf has had a strong partnership with TaylorMade for many years. We look forward to continuing our work together to collectively advance our sport.”

“Peter and the Concert Golf team have built a differentiated foundation in the golf ecosystem, and we look forward to partnering with Centroid to support the Company’s pursuit of strategic acquisitions and continuously improving member experience,” said José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Partner and Managing Director, of Clearlake. “Centroid’s history of investing in the golf sector combined with Clearlake’s O.P.S.^® approach in partnership with Concert Golf’s experienced management team will position the Company well for continued growth.”

“Centroid has extensive experience in operating golf courses through our portfolio company South Springs Country Club, a prestigious golf club in South Korea, as well as an understanding of the global golf market with our investment in TaylorMade. Centroid’s investment in Concert Golf underscores the firm’s continued commitment to building its portfolio in the golf sector,” said Kangmin Shin, Managing Director at Centroid. “We look forward to ongoing collaboration within our portfolio companies as they seek ways to work together to elevate the experiences for golfers. We would like to commend Peter and his team for the platform they have built. Furthermore, we respect and admire Clearlake’s success as well as their investment strategy, and we are excited to have the opportunity to partner with the Company and Clearlake in Concert Golf’s next phase of growth.”

As a part of the investment, Kangmin Shin will join the Concert Golf Board of Directors as an observer. The Company also announced the appointment of Paul Major to the Board of Directors. Major joins the Concert Golf board with extensive experience in the golf industry including formerly serving as CEO of American Golf Corporation and President of Los Angeles Country Club.

About Concert Golf

Concert Golf Partners is a boutique operator of private golf and country clubs headquartered in Lake Mary, FL. Concert Golf offers a personalized and curated approach to partnership and operates 27 private golf and country clubs nationally, including former developer-owned clubs and longtime member-owned clubs. CGP takes a long-term investment approach, seeking to deploy capital to upgrade amenities and facilities at private clubs in major metropolitan areas, while maintaining each club’s cherished and distinct culture. The Company collaborates with local professional management at each club to ensure seamless operations and high-quality member experiences to build vibrant club communities. For more information about Concert Golf Partners, visit www.concertgolfpartners.com.

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.^® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin. More information is available at www.clearlake.com and on Twitter @Clearlake.

About Centroid

Established in 2015, Centroid Investment Partners LC (“Centroid”) is a Seoul-based private equity firm. Since its inception, Centroid has established a proven track record of strategic buyout transactions in Korea across a diverse set of industries, with its most recent purchases of the South Springs Country Club, Kolon Advance Fiber, and Woongjin Booxen. Its acquisition of TaylorMade in 2021 was the first case in Korea that a private equity firm completed a multibillion-dollar cross-border buyout transaction without any structural support from strategic investors – large conglomerates in Korea. Centroid creates value for its investor partners by strategically transforming companies to maximize profitability and competitiveness, while working closely with management and its diverse partners and professionals to advise on strategic growth.