White Manor Country Club partners with Concert Golf

White Manor Country Club, a member-owned private club here in the Philadelphia suburb of Malvern, completed its recapitalization with Concert Golf Partners, the boutique owner-operator of high-end private clubs. The Dec. 31 transaction, overwhelmingly approved by the club’s Board of Directors and its members, paid off all club debt, lowered annual member dues by 10-15 percent, injected more than $1 million into immediate capital projects at the club, and barred any future assessments on the membership.

White Manor boasts one of Philadelphia’s most beautiful and challenging golf courses; it was re-designed and renovated in 2003 by award-winning course designer, Bobby Weed.

“This partnership with Concert Golf preserves our club for the long term, and ends the era of funding capital projects with member assessments,” said club president John Palumbo, who led the club’s recapitalization with Concert Golf. “We have a unique history and avid golfing membership here at ‘The Manor,’ and now our club is debt-free and our future is brighter than ever.”

White Manor Country Club, founded in 1948, carries a slope of 138 and a 74.5 course rating from the back tees measuring 7,009 yards.

According to Board member Kevin McClelland, “I read an article about other high-end private clubs getting a capital infusion from Concert Golf, and so I reached out to them.” As Treasurer of the Board, McClelland had been tasked with finding ways to fund various capital improvement projects since the highly successful 2003 course remodel, while dealing with the existing bank loan that funded the remodel. The Board decided to seek a partner who would fund and complete the necessary capital projects, and also pay off the club’s debt.

“We contacted everyone we knew in the golf industry,” McClelland added, “and after hearing glowing recommendations of how they have preserved and enhanced other high-end clubs like ours, we chose to partner with Concert Golf.”

Concert Golf CEO Peter Nanula announced that his team would immediately undertake over $1 million in new capital projects at White Manor CC, including greens renovations; new swimming pool amenities; outdoor dining; and a new fitness center.

“White Manor CC is a great club with a top-rated golf course and all the amenities, but it had some common capital challenges,” Nanula said. “And these capital issues are now solved. No more debt — we paid off all the debt last week. No more member assessments — we will pay for and complete the Board’s list of improvements much faster, at no cost to the members.”

Concert Golf Partners is a boutique owner-operator of private clubs based in Newport Beach, Calif. Formed by Nanula, the founder and CEO of Arnold Palmer Golf Management (1993 to 2000), Concert Golf has amassed $150 million of patient, long-term equity capital to invest in and upgrade large-scale private clubs located in major metro areas.

Concert Golf has recently acquired 14 such clubs nationally, including longtime member-owned clubs such as Blue Hill CC in Boston, Crestview CC in Wichita, and MacGregor Downs CC in Raleigh.

Photo: White Manor Country Club