Fore Golf and HBT Golf Announce Joint Venture

Aug 16, 2011, 16:53 ET from Fore Golf Partners

MANASSAS, Va., Aug. 16, 2011 /PRNewswire/ -- Golf industry veterans Charlie Staples, Mike Miraglia and Tom Bennison of Fore Golf announced today the formation of a joint venture, Fore Golf Partners, with Dallas based HBT Golf, LLC for the purpose of acquiring private country clubs and daily fee golf courses throughout the United States. In addition, the company also announced its first acquisition, Feather Sound Country Club located in Clearwater, Florida.

Tom Bennison, a partner in the venture said, "We are in an unprecedented acquisition environment as club owners and lenders seek liquidity from these businesses. As a cash buyer familiar with most major US markets and able to close expeditiously and without financing, we expect to see a lot of interesting opportunities."

Staples, Miraglia and Bennison have significant experience as owners and operators of private clubs and daily fee golf courses. During his 40 year career, Charlie Staples has owned and operated 80 courses and clubs. Mike Miraglia has 26 years in the golf business, 20 working with Charlie Staples and the last 8 as an owner. The two own Fore Golf, the parent to 13 courses which are located in Florida, Northern Virginia, Maryland and Ohio. Mr. Miraglia will be the partner managing the day-to-day operations of the company. Tom Bennison spent 27 years with ClubCorp USA, Inc., the last 17 of which he was Senior Vice President of Business Development.

HBT Golf, LLC investors include Dallas businessmen John Pigott and Bruce Leadbetter; Harold (Hank) Handelsman, counsel to the Pritzker family of Chicago for 35 years; and Christopher Bancroft, a former Director of Dow Jones & Company. "We are highly enthusiastic about our investment in Fore Golf Partners and our partnership with these industry veterans. Our partners' accomplishments and track records are outstanding and the investment metrics compelling," said Bancroft.  

For more information on Fore Golf Partners, please contact Tom Bennison (Dallas office) at 972-467-5709 or Tom.Bennison@yahoo.com.

SOURCE Fore Golf Partners



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