TaylorMade sold to firm for $425 million

2016 05 Taylor Made1 4Ef9F3D60E48F60Baa5813F356Ceb776

TaylorMade, Ashworth and Adams have been sold to private equity firm KPS Captial Partners for $425m almost a year to the day after adidas Group put them up for sale.

The deal is expected to be completed by the end of the year – bringing an end to a 20-year association between adidas and TaylorMade – and comes just a day after news broke of Rory McIlroy’s $100m contract to play TaylorMade clubs.

“TaylorMade is a leading global golf brand with an exceptionally strong market position,” said Kasper Rorstead, CEO of adidas AG.

“We would like to thank all TaylorMade employees for their many contributions to our company and wish them all the best for a successful future under their new ownership.”

Read more - Tiger Woods signs deal with TaylorMade

Rory Sergio M2

TaylorMade, Ashworth and Adams were put up for sale on May 4, 2016, after revenues at TaylorMade-adidas Golf decreased by 1% for the first quarter of the year, while the rest of the adidas Group enjoyed a 26% growth.

The negative results were largely blamed on the sales declines at Ashworth and Adams and it is unclear as yet what the long-term future of both of those brands will be under the new owners.

David Abeles, CEO of TaylorMade, added: “This is the beginning of an exciting new era for TaylorMade, and our entire management team is excited to partner with KPS in this next phase of our growth and continued development of our brands, business and people.

Read more - TaylorMade TP putters have 'wow' factor

Rory Bag

“Given their strategic vision, operational resources and significant access to capital, KPS is the ideal partner to help TaylorMade build upon its strong momentum.”

David Shapiro, a managing partner of KPS, said: “TaylorMade is one of the preeminent golf equipment brands worldwide, with leading-edge products that consistently provide consumers a distinct performance advantage over the competition.

“The combination of this iconic brand and KPS' track record of working constructively with talented management teams to make businesses better will provide the ideal foundation for TaylorMade's future growth.”

Share this Article

share-logo
twitter-logo facebook-logo

Latest Videos See all videos right arrow

play button
FOUR GOLF LESSONS WITH STEVE JOHNSTON – BIG CHANGES! (Epic Mission EP 7)
Epic Mission
play button
A ROUND WITH MARC WARREN (Epic Mission EP 6)
Epic Mission
play button
Motocaddy S1 & Pro-Series REVIEW & GIVEAWAY
Motocaddy
play button
MASTER YOUR SHORT GAME (Epic Mission EP 5)
Epic Mission
See all videos right arrow

Golf News

Robert MacIntyre keeps nose in front in 'Rookie' race
WATCH - Has Rory McIlroy just hit the shot of the year?
Daniel Young "accentuating positives" after Q-School agony
Brooks Koepka withdraws from US Presidents Cup team
Agony for Scots at European Tour Q-School

Other Top Stories

Tiger Woods puts new irons in the bag
New Fife golf course gets go ahead
REVIEW - Adare Manor, Ireland's rejuvenated masterpiece
Win a spot in the ASI Scottish Open Pro-Am with Hilton
Padraig Harrington targets 2020 Ryder Cup captaincy

Quick Fault 'n' Fixes See all videos right arrow

play button
Fix your slice with Denis Pugh
Watch
play button
The importance of shoulder turn in the golf swing
Callaway
play button
Good fundamentals are key to a good golf swing
Watch
play button
Posture and set-up tips from Denis Pugh
Watch
See all videos right arrow