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Refinancing secures expansion at The Club Company
The Club Company is continuing to search for suitable sites for the expansion of its country club concept following its recent refinancing.
The company,which was acquired by Legal & General Ventures (LGV) in May 2004, has been refinanced with debt facilities of £60m from Anglo Irish Bank.
It confirms LGV’s support for The Club Company, said LGV managing director Bill Priestley: “We’re delighted with our investment. The refinancing reflects the strong performance of the business since the acquisition and is a testament to the management team and the growing popularity of the country club format.”
The company has 11 golf and country clubs and is developing a £7m clubhouse at its Warwickshire site.