Clearlake Capital has sold its stake in Concert Golf Partners to Bain Capital, marking a new chapter for the private golf and country club operator as it prepares for further expansion across the United States.

Bain Capital’s private equity and real estate teams will support the company’s long-term strategy, although financial terms were not disclosed. Concert Golf operates 39 private clubs nationwide, offering golf, dining, fitness, and events across its portfolio.

Clearlake invested in the company in March 2022 and used its O.P.S. framework to drive rapid growth, doubling both revenue and profitability. The firm supported 14 strategic acquisitions, expanded operations, and helped build a full-service lifestyle platform.

“Our partnership with Concert Golf exemplifies the power of our sector-focused flexible investment strategy combined with our O.P.S. approach in creating meaningful value,” said José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Partner and Managing Director at Clearlake. “We collaborated closely with management to promote profitable growth, complete 14 strategic acquisitions to expand the portfolio, and transform Concert Golf into a premier full-service lifestyle platform.”

Concert Golf CEO Peter Nanula said Clearlake’s support enhanced the company’s capabilities and member experience. “As we look ahead, we’re excited to partner with Bain Capital to continue growing our platform and investing in our clubs and members,” he said.

Moelis & Company was financial advisor to Concert Golf and Clearlake, with Wachtell, Lipton, Rosen & Katz providing legal counsel. Goldman Sachs and Rothschild & Co advised Bain Capital, with Kirkland & Ellis as legal counsel.

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