TaylorMade, Ashworth, Adams Sold For $425 Million To Private Equity Firm KPS Capital Partners
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Nice work by Ryan Ballengee at GolfNewsNet with the news shared to Taylor Made employees Wednesday.
The deal ends a year-long effort by Adidas to unload their golf equipment and apparel brands.
David Dusek and Jason Lusk report for Golfweek on the deal, including this:
The New York-based KPS Capital Partners manages $5.3 billion in global assets in manufacturing and industrial companies, including automotive parts and electrical components.
About half of the $425 million will be paid in cash, while the remaining portion will be paid in the form of a secured note and contingent considerations. The final sale is expected to be completed in late 2017.
