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Battery Ventures, Silver Lake explore $3-billion sale of Clubessential, sources say

By Milana Vinn

(Reuters) - Investment firms Battery Ventures and Silver Lake are exploring a sale of Clubessential Holdings, which they hope will value the club-management-software provider at close to $3 billion, according to people familiar with the matter.

A sale process for Clubessential is underway with advice from investment bankers, the sources said.

Clubessential expects to generate about $255 million in revenue and $135 million in earnings before interest, taxes, depreciation and amortization over the next 12 months, the sources added.

The sources cautioned that no deal is certain and asked not to be identified because the matter is confidential.

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Silver Lake declined to comment. Battery Ventures and Clubessential did not immediately respond to requests for comment.

Clubsessential provides membership and club management software as well as integrated payments solutions to private clubs, public golf courses, health and fitness clubs, spas, military organizations, municipalities and camp organizations.

The Cincinnati, Ohio-based company operates nine brands, including Clubessential, ClubReady, RecDesk, and CampBrain. It services more than 20,000 customer sites in 70 countries, according to its website.

Clubessential was founded in 1998 by William Ivers. Battery Ventures became the company's majority shareholder in 2016. Silver Lake bought a minority stake in the business in 2021.

(Reporting by Milana Vinn in New York; Editing by Rod Nickel)