Centroid Investment Partners, a South Korea-based private equity firm, acquired TaylorMade Golf for $1.7 billion, the largest acquisition ever in the golf goods industry.
“The industry is currently experiencing high demand, increased participation with strong long-term opportunities around the world,” said Centroid CEO Jinhyeok Jeong.
New York-based KPS Capital Partners, TaylorMade’s previous owner, acquired the company from adidas in May 2017 for $425 million.
TaylorMade, known for its innovation of metal drivers, has become a leading brand in the $80 billion global golf industry since its debut in 1979, endorsed by superstars like Tiger Woods, Dustin Johnson, and Rory McIlroy.
The company became a hot commodity when it was placed on the market, and Centroid outbid four other groups of global strategic and financial investors.
Centroid is evidently bullish on golf.
In March, the firm completed its $170.7 million acquisition of the prestigious South Springs Country Club. The deal marked one of the most expensive golf course sales in South Korea, the third-largest golf market in the world behind the U.S. and Japan.