I spent some time yesterday with Rai Sahi, the new owner and CEO of [photopress:clublink.jpg,full,alignright]ClubLink Corp., always an interesting experience. Though much of the conversation dealt with his background at his previous companies (he ran trucking and auto parts companies before entering into real estate with Morguard Corp., his current business), the discussion also came around to his involvement with ClubLink.
Calling the business “mature,” and with many of the business’ debt problems reduced by being locked into long term loans with fixed interest rates, Sahi said he felt the company’s existing courses could be tapped as development vehicles. Don’t take that the wrong way — he wasn’t suggesting ClubLink would develop on the properties, but more developing around them.
He seemed particularly keen on entering into the golf and real estate development business, whereby ClubLink and Morguard would partner (at least that was my understanding) on creating courses and housing, thus utilizing the specific skills of both organizations. He said he felt this would be done primarily in Ontario, and he didn’t seem all that commited to the concept in the Quebec market.
One thing he stressed was patience. Sahi said he really enjoys the business, though he said he might have overpaid to acquire control of it. Either way he sees ClubLink as a longterm play that will pay off in the long run. So don’t expect to see anything drastic in the near future as far as the organization goes.
Mind you, Sahi also said he likes to have control of companies because he doesn’t need to run ideas through a group of owners, so that might suggest we could see some decisive action as well.