Apollo Global Management Inc. is weighing an initial public offering as early as this year for ClubCorp, the country club operator it took private in 2017, according to people familiar with the matter.
The private equity firm is working with advisers on a process for the Dallas-based company, said the people, who asked to not be identified because the matter is private. The company could be valued at about $4.5 billion in an IPO, one of the people said.
Apollo paid about $1.1 billion for the company, excluding debt, according to data compiled by Bloomberg. No final decision has been made and the timing or valuation of the listing could change, the people said.
A spokesperson for ClubCorp didn’t immediately respond to a request for comment. A representative for Apollo declined to comment.
ClubCorp owns or operates more than 200 golf, country, sports and other types of clubs with more than 430,000 members, according to its website. Golf enjoyed a resurgence of interest during the coronavirus pandemic, which led to some dealmaking in the space.
Callaway Golf Co. acquired driving-range chain Topgolf Entertainment Group last year, while Sporting-goods company Vista Outdoor Inc. agreed to buy golf-simulator maker Foresight Sports.