PE firm teeing up golf course sale

Private equity firm GTCR Golder Rauner is early in the process of auctioning its company Heritage Golf, said a source who has seen the sales material.

Heritage, which owns 15 courses, five of them TPC, has hired investment bank Stevens to handle the sale, the source said. The San Diego-based business has courses mostly in Florida, Georgia and South Carolina.

GTCR has owned the business since 1999. It has not yet taken any bids.

The company did not return calls for comment.