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
Top 5 tips to help you conquer the MENTAL game
mental game
play button
PUTTER BATTLE! – Three of the best 2021 models compared
taylormade putters 2021
play button
STABLEFORD - HOW DOES IT WORK?
Stableford
play button
WHICH OF THESE IS THE BEST HYBRID OF 2021?
Hybrids
See all videos right arrow

Golf News

Euan Walker agrees partnership with Scots club
Scots club targeted by arsonists
Justin Thomas “doesn’t like” rangefinders
Rory McIlroy says Player Impact Program is a “great initiative”
Three of world’s top-10 heading to Scottish Open

Other Top Stories

Tiger Woods: Inside his $41million Florida mansion
The very best pubs in St Andrews
The Scottish Golf Course Emoji Quiz!
24 lies every bad golfer tells
Doug Sanders: The extraordinary life of golf's original playboy

Quick Fault 'n' Fixes See all videos right arrow

play button
Mix up your practice routine
Watch
play button
Keep the clubface looking at the ball for as long as possible
Callaway
play button
Swing it like Joe Miller says Denis Pugh
Watch
play button
How to improve your ball flight
Callaway
See all videos right arrow