M&A Deal Summary

KSL Capital Partners Acquires Heritage Golf Group

On February 10, 2020, private equity firm KSL Capital Partners acquired leisure company Heritage Golf Group from Tower Three Partners

Acquisition Highlights
  • This is KSL Capital Partners’ 30th transaction in the Leisure sector.
  • This is KSL Capital Partners’ 25th transaction in the United States.
  • This is KSL Capital Partners’ 7th transaction in California.

M&A Deal Summary

Date 2020-02-10
Target Heritage Golf Group
Sector Leisure
Buyer(s) KSL Capital Partners
Sellers(s) Tower Three Partners
Deal Type Secondary Buyout

Target

Heritage Golf Group

Carlsbad, California, United States
website
Heritage Golf Group is a hospitality company operating premier private, resort and daily fee golf properties spanning Florida, South Carolina and Virginia. Guided by the principle of evolving the golf business experience to the highest level, each individual club’s amenities and operational systems are tailored to augment its one-of-a-kind assets. Heritage Golf Group was founded in 1999 and is based in Carlsbad, California.

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Buyer(S) 1

Buyer

KSL Capital Partners

Denver, Colorado, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 18.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

KSL Capital Partners LLC is a specialist private equity firm that makes investments in travel and leisure businesses. Areas of interest include hospitality, recreation, clubs, real estate and travel services. KSL is a hands-on investor, with a strong interest in pursuing under-managed or under-capitalized businesses where the firm can unlock hidden value. KSL Capital Partners is the successor investment vehicle to KSL Recreation Corporation, a former portfolio company of KKR. KSL Capital Partners LLC was founded in 2005 and is based at Denver, Colorado with additional offices in New York, New York and London, United Kingdom.


DEAL STATS #
Overall 35 of 49
Sector (Leisure) 30 of 42
Type (Secondary Buyout) 6 of 6
State (California) 7 of 8
Country (United States) 25 of 36
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-22 Soneva

Bangkok, Thailand

Soneva is a luxury resort developer and operator. Combining luxury with a conscientious approach to sustainability and the environment, and proactively changing the nature of hospitality, it delivers intuitive service and meaningful experiences to the guests. Soneva was founded in 1995 and is based in Bangkok, Thailand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-10 Hai Hospitality

Austin, Texas, United States

Hai Hospitality is a restaurant group. Company’s restaurants include Uchi and Uchiko in Austin, Uchi Houston, Uchi and Uchiba in Dallas, Uchi Denver, Uchi Miami and Loro in Austin amd Houston. Hai Hospitality supports each restaurant in a variety of capacities so that each location has the freedom to grow while still being part of the bigger family—a family that has a common set of core values, a shared vision for food, service, and design, and a collective pool of knowledge and expertise that it can share across restaurants and concepts. Hai Hospitality was formed in 2003 and is based in Austin, Texas

Buy -

Seller(S) 1

SELLER

Tower Three Partners

Greenwich, Connecticut, United States

website


Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tower Three Partners is an operationally-oriented private equity firm that invests in US-based middle-market companies. Tower Three seeks growth-oriented opportunities and looks to commit $50 to $150 million per transaction. Tower Three Partners was founded in 2007 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 5 of 6
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 1 of 2
State (California) 2 of 2
Country (United States) 5 of 6
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-09 Vexus

Lubbock, Texas, United States

Vexus is a provider of high-speed broadband services, including internet access, digital TV and other services to residential and business customers in northern Texas and southeastern Louisiana. Vexus was founded in 1981 and is based in Lubbock, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 SteriCare Solutions

Haltom City, Texas, United States

SteriCare Solutions is a manufacturer of medical devices and products that help improve the quality of care and life for patients. Nurse Assist is a provider in the production of United States Pharmacopeia (USP) sterile water and normal saline, and its products extend to four principal categories of medical devices: USP water and saline and infusion care products, convenience kits, interconnecting cables, and patient safety. SteriCare Solutions was established in 1999 and is based in Haltom City, Texas.

Sell -