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Fairness Opinion Detail

MYCC FOOpen source

ClubCorp Holdings, Inc. to Apollo Global Management

Leisure/Jul 2017/Jefferies, Wells Fargo Securities

Deal Information

Target
ClubCorp Holdings, Inc.
Acquiror
Apollo Global Management
Sector
Leisure
Target Type
Public
Acquiror Type
Financial
Advisors
Jefferies, Wells Fargo Securities

Transaction Metrics

Enterprise Value
$2.2B
EV / LTM Sales
EV / LTM EBITDA
8.9x
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: Jefferies

EV/LTM Adjusted EBITDA selected range: 7.0x - 9.0x

14 comps
Apr 2017Intrawest Resorts Holdings, Inc.KSL Capital Partners, LLC--9.6x-
Nov 2016Accordia Golf Co., Ltd.MBK Partners LP--11.3x-
Sep 2016Isle of Capri Casinos, Inc.Eldorado Resorts, Inc.--8.7x-
Aug 2016Affinity GamingZ Capital Partners L.L.C.--8.4x-
Aug 2016Whistler Blackcomb Holdings, Inc.Vail Resorts, Inc.--15.0x-
Jun 2016Diamond Resorts International, Inc.Apollo Global Management, LLC--7.1x-
Oct 2015Vistana Signature Experiences, Inc.Interval Leisure Group, Inc.--11.3x-
Aug 2015Steiner Leisure LimitedCatterton Partners--11.6x-
Mar 2015Life Time Fitness, Inc.TPG Capital, L.P., Leonard Green & Partners, L.P. and LNK Partners LLC--10.3x-
Aug 2014Sequoia Golf Holdings, LLCClubCorp Holdings, Inc.--10.9x-
Sep 2013MTR Gaming Group, Inc.Eldorado Resorts, LLC--6.2x-
Dec 2012Ameristar Casinos, Inc.Pinnacle Entertainment, Inc.--7.6x-
May 2012Peninsula Gaming, LLCBoyd Gaming Corporation--7.0x-
Mar 2012Great Wolf Resorts, Inc.Apollo Global Management, LLC--9.4x-
Mean-9.6x-
Median-9.5x-