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Going Private • Leisure

Apollo Global Management Acquires Invited

On July 9, 2017, asset manager Apollo Global Management acquired leisure company Invited for 1.1B USD

Acquisition Context
  • This is Apollo Global Management’s 3rd transaction in the Leisure sector.
  • This is Apollo Global Management’s 34th largest (disclosed) transaction.
  • This is Apollo Global Management’s 52nd transaction in the United States.
  • This is Apollo Global Management’s 8th transaction in Texas.

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M&A Deal Summary
Date July 9, 2017
Target Invited
Sector Leisure
Buyer(s) Apollo Global Management
Deal Type Going Private
Deal Value 1.1B USD
Advisor(s) Jefferies (Financial)
Simpson Thacher & Bartlett (Legal)

Target Company

Invited

Irving, Texas, United States
Invited owns and operates golf, country, business, sports, and alumni clubs. Invited owns or operates a portfolio of over 200 golf and country clubs, business clubs, sports clubs, and alumni clubs in 28 states, the District of Columbia and two foreign countries that serve over 430,000 members, with approximately 20,000 peak-season employees. Invited was founded in 1957 and is based in Irving, Texas.
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Buyer Overview 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

Deal Context for Buyer #
Overall 71 of 152
Sector: Leisure 3 of 4
Type: Going Private 19 of 31
State: Texas 8 of 19
Country: United States 52 of 108
Year: 2017 4 of 9
Size (of disclosed) 34 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-20 CareerBuilder

Chicago, Illinois, United States

CareerBuilder provides comprehensive online recruiting products and services for job seekers and employers and has uniquely syndicated its trademarked technology and content to create a network of private-label career sites. CareerBuilder was founded in 1995 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-02 CH2M

Englewood, Colorado, United States

CH2M is an engineering firm specializing in government, industrial, infrastructure and energy projects. CH2M was formed in 1971 and is based in Englewood, Colorado.

Sell $3.3B

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