Troon, the largest golf course management company in the world, has acquired ICON Management Services, a Florida-based management company that specializes in golf, tennis, amenities and community associations.
ICON started out solely managing golf courses but has since expanded into country clubs, recreational amenities, homeowners’ associations and more, both in Florida and beyond. At the moment, ICON manages 18 golf courses, 60 HOAs, and 19 amenities/town centers.
During its 15-year history, the company has grown to encompass almost 100 total properties and employs 1,800 team members. All current members of ICON-managed communities will continue to receive the same services they have always gotten from ICON, with additional support and service from Troon.
ICON founder Dennis Colletti will pursue other interests in the wake of the sale, but Wes Miller will remain as the president of ICON under the auspices of Troon, and all ICON employees will remain in their current positions. ICON’s offices in Bradenton, Fort Myers and Orlando will be tasked with managing communities throughout the Troon portfolio.
With the acquisition, Troon now has offices in Arizona (the global headquarters), Florida, Virginia, Massachusetts, Illinois, California, Alabama, Washington, Texas, and the United Arab Emirates.
“ICON’s commitments to culture, quality service and outstanding team of professionals – as well as its complementary community and club portfolio – presented a strategic growth opportunity for Troon,” said Troon President and CEO Tim Schantz. “With the addition of ICON, we significantly expand our HOA management capabilities regionally and nationwide, while also supporting the ICON team with their current goals and valued clients.”
The ICON acquisition is noteworthy because very few golf course management companies deal with HOAs or communities, and there is a huge opportunity for Troon to leverage those communities to either introduce golf courses to them, or simply acquire adjacent courses that might not otherwise be part of the community.
Troon has been making strides of late to expand a portfolio of services to benefit their clients. Recent acquisitions have been made in the racket sports (Peter Burwash International and Cliff Drysdale Management) and food and beverage markets (RealFood Hospitality, Strategy and Design), as well as more golf management companies (Honours Golf, Green Golf Partners, OB Sports Golf Management, Premier Golf Centers, and Indigo Golf Partners).