Sequoia Golf today announced the sale of its stock and assets for $265 million to ClubCorp. ClubCorp, a publicly-traded company is a leading owneroperator of private golf and country clubs, as well as business, sports, and alumni clubs in North America.

The deal provides Sequoia with increased capital to modernize its properties and resources to offer more robust programming and services to its members and their families. It also creates a highly competitive growth platform and unprecedented access to acquisition opportunities for the company.

Joe Guerra, Sequoia president and CEO, said “Our sale to ClubCorp is very exciting for Sequoia and its members.” Guerra, who will serve as a senior advisor to ClubCorp added, “ClubCorp is known for maintaining extremely high standards in club management and investing to improve members’ experience. Specifically, their leadership with club reinventions, compelling product offerings and growth via acquisitions serves as a strategic fit for our company.”

Sequoia was created by Guerra and its founding partner Parthenon Capital, which has worked with the company since its inception. Launched in 2003, Sequoia acquired the original seven Canongate properties in south Atlanta for approximately $55 million from the Patten Seed Company that was controlled by the Roquemore family. Since then, Sequoia has grown to include 50 owned and leased golf and country clubs, and managed clubs throughout the U.S.

Guerra added, “We selected this shift in ownership because it is going to be best for the immediate and long-term interests of Sequoia and Canongate, leading to greater opportunities for its staff and club members. In fact, members can expect many new benefits and service improvements in the next several months.”

Sequoia Golf was advised by Robert W. Baird & Co., Deloitte Corporate Finance, Kirkland & Ellis LLP and Greenberg Glusker.