ClubCorp, the Texas-based company that owns the Commerce Club in downtown Greenville, is being sold to Apollo Global Management LLC, a New York-based private equity firm. The approximately $1.1 billion acquisition is expected to occur later this year. Once complete, ClubCorp will be a privately held company. Shareholders will be paid a one-time dividend of 13 cents per share later this month.
ClubCorp also owns the Harbour Club near Waterfront Park in Charleston, the Capital City Club in Columbia, Woodside Plantation Country Club in Aiken, and three Hilton Head Island clubs.
