Carlsbad, California, United States: TaylorMade ‘is poised for accelerated growth in the Korean market as well as the rest of Asia’ following the company’s acquisition by Centroid Investment Partners, a Seoul-based private equity firm.

In a statement, TaylorMade Golf Company, Inc said its current financial sponsor, KPS Capital Partners, has signed a definitive agreement, through an affiliate, to sell the company to Centroid. Financial terms of the transaction were not disclosed.

Jeong Jin-hyeok, Founder and CEO of Centroid Investment Partners, said: “TaylorMade Golf is a transformational investment for Centroid. We are very excited to have the opportunity to invest in a global leader in golf. The industry is currently experiencing high demand, increased participation with strong long-term opportunities around the world.

“TaylorMade is an iconic brand with continued momentum across the key golf equipment categories and regions, especially the Korean and wider Asian markets. We are equally excited to work with David Abeles (TaylorMade’s CEO) and his exceptional senior management team to support continued growth and success.”

Since its establishment in 1979, TaylorMade has been a leading global manufacturer of golf equipment, balls, bags and accessories, bringing innovative, high performance product technologies to golfers worldwide.

Its portfolio of athletes across the global Tours includes Dustin Johnson, Tiger Woods, Rory McIlroy, Tommy Fleetwood, Collin Morikawa, Rickie Fowler, Matthew Wolff, SH Park, Charley Hull, Maria Fassi and Sierra Brooks.

After KPS acquired TaylorMade in 2017 from adidas, the company has transformed into a fully independent, golf equipment and golf ball company.

TaylorMade invested heavily in industry leading technologies, introduced revolutionary performance advances in equipment, achieved significant market share growth in golf balls, built new manufacturing and distribution facilities, and successfully refocused its marketing strategy, including the expansive build-out of one of the most advanced digital platforms in the business.

Since 2017, TaylorMade has experienced substantial growth in revenue and profitability worldwide and is positioned in 2021 to have the strongest year in its history under the leadership of Abeles, and its wider management team.

Abeles said: “This transaction is a very important milestone as we continue to build upon our brand’s momentum around the world. Not surprisingly, the sale process for TaylorMade generated tremendous interest from a wide range of prospective buyers and resulted in an agreement that reflects the outstanding performance of our business today, as well as the outlook for the future.

“Our partnership with KPS has been extraordinary. It has been inspiring and incredibly productive to work with the team across the firm. From the beginning, KPS had the vision to recognise the strength and potential of the TaylorMade brand and business.

“Under KPS’s ownership, TaylorMade has become a far better company by investing in our operations, product technology pathways, product development processes and, importantly, in our people. TaylorMade Golf has never been better positioned for future growth than we are today.

“At the same time, we are equally excited about our new partnership with Centroid and believe that it will enable our outstanding team to continue to build on the strategies that have driven TaylorMade’s success. Our focus will be to keep on doing what’s made us the leader in our industry – the creation of best-in-class products, invest in our brand, and deliver incredible service to our customers and golfers of all skill levels.”

David Shapiro, Co-Founder and Co-Managing Partner of KPS, said: “TaylorMade demonstrates KPS’ ability to see value where others do not, to buy right and make businesses better. KPS recognised the value of the iconic TaylorMade brand, its cutting-edge product portfolio, the talent of its world-class management team and employees and the opportunity to align the company’s growth strategies with global market opportunities.

“We congratulate and thank David Abeles, TaylorMade’s management team and the entire organisation for their tremendous dedication to the brand and company and their passion for the game of golf. 

“The company is well positioned for continued growth and industry leadership and is poised for accelerated growth in the important Korean market as well as the rest of Asia under Centroid’s ownership.”