KPS has sold TaylorMade to South Korean investment company Centroid for a reported $1.7bn, just four years after buying the company from adidas.

TAGS:

TaylorMade Golf Sold For $1.7 Billion

KPS Capital Partners has sold TaylorMade Golf to South Korean Investment company Centroid, for a reported $1.7 billion.

KPS Capital Partners acquired TaylorMade back in 2017 from Adidas Golf for a reported £425 million, meaning they have quadrupled their investment in just four years.

Now an independent gear-focused company, TaylorMade sponsors the likes of Tiger Woods, Dustin Johnson and Rory McIlroy, as well as several LPGA players, and is a leading golf brand.

Meanwhile, after establishing in 2015, Centroid has focussed on several strategic investments in South Korea, including the acquisition of South Springs Country Club for $170 million, making it one of the most expensive golf course sales in the country.

The South Korean company has also invested in other companies from a range of industries, though Centroid is clearly excited about buying TaylorMade.

Dustin Johnson TaylorMade hat

Dustin Johnson sporting a TaylorMade Golf hat (Getty Images)

“TaylorMade Golf is a transformational investment for Centroid,” said Jinhyeok Jeong, founder and CEO of Centroid Investment Partners.

“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.”

TaylorMade is also hoping to capitalise on their continued growth by partnering with Centroid.

David Abeles, TaylorMade CEO, 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.

“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.”

Completion of the transaction is subject to customary closing conditions and approvals.