Simpson Thacher is representing KSL Capital Partners in its acquisition of ClubCorp, Inc., the owner and operator of over 160 golf courses, country clubs, private business and sports clubs, and resorts across the United States. KSL will pay approximately $1.8 billion in cash for ClubCorp. The acquisition was announced on October 10, 2006. Clubcorp also announced the simultaneous sale of its Pinehurst Resort and Country Club to affiliates of the Dedman family, the controlling stockholders of ClubCorp. The transactions are subject to customary closing conditions, including regulatory approval, and are expected to close during the fourth quarter of 2006.
Among ClubCorp’s nationally recognized resort and golf properties are Barton Creek Resort & Spa in Austin, Texas and The Homestead in Hot Springs, Virginia; Firestone Country Club in Akron, Ohio; and Mission Hills Country Club in Rancho Mirage, California. The business and sports clubs include the Boston College Club; City Club on Bunker Hill in Los Angeles; Columbia Tower Club in Seattle; Metropolitan Club in Chicago; and the City Club of Washington, D.C.
The Simpson Thacher team includes Jason McFall, Jeffrey Joseph and Vijay Sekhon from the Los Angeles office (M&A), Marcy Geller, Benjamin Applestein and Seojung Park (Tax), Ken Edgar and Rachel Berry (Employee Benefits), Tim Mulvihill and Noreen Lavan (Environmental), Caylin Navo (Real Estate), Lori Lesser and Mindy Lok (IP) and Fagie Hartman and Jacqueline Rosenblum (Labor). Mike Nooney and Tom Wuchenich provided advice on KSL’s fund-related issues. Paralegals Fabiana Yu, Kim Solomon, and Ashley Vereschagin provided valuable assistance to the deal team.