Links Asset Trust has partnered with Bobby Jones Links in a deal that ties the two companies closely together.
Links Asset Trust is run by Doug White, and Frank Denniston, both former Billy Casper Golf Management executives. The private equity company has acquired three private clubs, each on a 30-year lease, with promises to invest and upgrade the facilities.
Bobby Jones Links, formerly known as Mosaic Clubs and Resorts, will manage those three clubs and any future acquisitions. As part of the deal, White and Denniston are now partners in Bobby Jones Links.
Bobby Jones Links had managed two of the clubs — Country Club of Indianapolis, and Hidden Valley Country Club in Salt Lake County, Utah for the past two years. The third facility, Pine Island Country Club in Charlotte, North Carolina, was recently added.
“Many private clubs are seeking capital for debt resolution or high-impact renovations,” White said. “Yet they have few options. We have the equity to invest and make these improvements and solve these clubs’ challenges.”
Links Asset Trust’s goal is to cater to clubs who wish to preserve their history without a sale. White said they had the money and Bobby Jones Links had the means to manage such a workload. He said Links Asset Trust and Bobby Jones Links’ ideas of the future align 100 percent, avoiding a division between operator and owner.
“We are pleased to have these clubs join the Bobby Links family,” said Whitney Crouse, a founder of Bobby Jones Links. “The addition of Frank Denniston and Douglas White as partners is also an important step forward in growing the Bobby Jones Links management portfolio.”
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We own our company and are not driven by any investor expectations nor do we leverage our operational leadership across far too many clubs. And unlike many companies in our business, we don’t ask for long term management agreements with large breakup fees. If you like what we do, you’ll keep us. For more than two decades our clients have renewed our management services more than any other company.