TPG, Leonard Green Explore Sale of McIlroy-Backed Troon Golf

TPG and Leonard Green & Partners are exploring the sale of Troon Golf, a major US golf course operator, as reported by sources familiar with the situation. The private equity firms are reportedly working with an advisor to gauge interest from potential buyers. Troon Golf, which manages over 190 golf courses across 30 states and 10 countries, has seen significant growth under TPG's ownership since its acquisition in 2014. The company's portfolio includes prestigious courses and it has expanded its services to include golf course development and management. Northern Ireland golfer Rory McIlroy is a notable investor in the company, having joined in 2021. The potential sale comes at a time when the golf industry is experiencing renewed interest, partly fueled by increased participation during the COVID-19 pandemic and the emergence of new professional golf tours. TPG and Leonard Green acquired Troon Golf for an undisclosed sum approximately nine years ago and have since overseen its expansion and operational improvements. The firms are seeking a valuation that reflects Troon's market position and growth trajectory. No definitive agreement has been reached, and the firms may decide against a sale.