The company announced its first acquisition, Feather Sound Country Club located in Clearwater, Fla.
Fore Golf announced the formation of a joint venture, Fore Golf Partners, with Dallas based HBT Golf, LLC for the purpose of acquiring private country clubs and daily fee golf courses throughout the United States. In addition, the company also announced its first acquisition, Feather Sound Country Club located in Clearwater, Fla.
Tom Bennison, a partner in the venture said, “We are in an unprecedented acquisition environment as club owners and lenders seek liquidity from these businesses. As a cash buyer familiar with most major US markets and able to close expeditiously and without financing, we expect to see a lot of interesting opportunities.”
Charlie Staples, Mike Miraglia and Bennison have significant experience as owners and operators of private clubs and daily fee golf courses. During his 40 year career, Staples has owned and operated 80 courses and clubs. Miraglia has 26 years in the golf business, 20 working with Staples and the last 8 as an owner. The two own Fore Golf, the parent to 13 courses, which are located in Florida, Northern Virginia, Maryland and Ohio. Miraglia will be the partner managing the day-to-day operations of the company. Bennison spent 27 years with ClubCorp USA, Inc., the last 17 of which he was Senior Vice President of Business Development.
HBT Golf, LLC investors include Dallas businessmen John Pigott and Bruce Leadbetter; Harold (Hank) Handelsman; and Christopher Bancroft, a former Director of Dow Jones & Company.
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