NGF TOP 100 BUSINESSES IN GOLF
Concert Golf Partners
Peter Nanula – Chief Executive Officer
Susan Dunnavant – Chief Operating Officer
Tom Gispanski – Chief Financial Officer
Aaron Straub – Director of Operations
Michael Padden – Director of Membership
Tom Moran – VP of Business Development
Concert Golf Partners is a boutique owner-operator of upscale private golf and country clubs nationwide, with a portfolio of 20 facilities that recapitalized and transitioned to non-equity status, and a dedicated $250 million investment fund.
Started in 2010 by former Arnold Palmer Golf Management founder Peter Nanula, the company focuses on premier private clubs in major metropolitan areas, making significant all-cash investments and upgrades while changing their business model to for-profit. The clubs acquired by Concert Golf Partners, in addition to continuing to provide exceptional member experiences and build vibrant communities, benefit from the stability that comes with long-term, debt-free ownership.
Concert recently secured $100 million in new equity for additional golf investment from a group of family offices and funds managed by Blackstone and Fireside Investments, that on top of an existing $150 million of equity capital.
Concert’s members enjoy free reciprocal privileges at the company’s other upscale clubs along with discounted access to 400+ other TPC clubs and Pacific Links International properties. In addition, a key factor in all of Concert’s membership agreements is a contractual obligation that members will never be assessed or experience a surprise rise in their club dues.
One example of Concert Golf’s approach can be found at the Muttontown Club, an exclusive, member-owned Jewish club on Long Island’s “Gold Coast” that was founded in 1962.
The club’s annual dues had risen to $26,000 per year, creating a barrier to membership growth. When Concert was brought in in 2017, it paid off all the club’s debt while investing millions of dollars in capital projects, among them a bunker renovation, course expansion, upgrades to the bar and dining area, clubhouse remodeling, pool upgrades, and a new basketball court and dedicated kids room. Not long afterward, the club’s number of golf members increased by more than 100, the number of social members jumped by almost 20% and the average age dropped from over 65 to approximately 53.
Concert Golf Partners has had a significant impact on the industry, invested in 20 private clubs in its portfolio that spans from Boston to Phoenix.
These upscale clubs, which were previously developer- or member-owned, have increased membership rosters, added new amenities, invested in new capital improvements, and improved course conditions and the level of service through Concert’s approach. Most importantly, all are operating profitably and generating significant cash annually for additional future capital projects.