TPG and Leonard Green & Partners are reportedly exploring a potential sale of Troon, a golf course operator and club management company in the U.S., according to Bloomberg.
The private equity firms have engaged investment banks to gauge buyer interest, with sources indicating the business could be valued at more than $2 billion.
A final decision has not been made, and the owners could ultimately decide to retain the company. TPG acquired a stake in the Scottsdale, Ariz.-based business in 2021 alongside Symphony Ventures, the investment fund of professional golfer Rory McIlroy.
Founded in 1990, Troon provides golf course and club management services across more than 825 locations worldwide. The company manages a portfolio of high-profile golf properties, including Kapalua Resort in Hawaii and Tobacco Road Golf Club in North Carolina.
In addition to TPG and McIlroy, the company’s investor base includes professional golfer Justin Thomas, as well as Jimmy Dunne, vice chairman of Piper Sandler Cos.
