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
FAIRWAY BUNKERS MADE EASY | GOLF EXPLAINED
Fairway bunkers
play button
4 simple tips for hitting your fairway woods
cameron adam
play button
WHICH ONE OF THESE IS MY FAVOURITE DRIVER OF 2021?
Drivers
play button
A GOLF SHOE THAT IS BOUND TO DIVIDE OPINION - FootJoy HyperFlex review
FootJoy
See all videos right arrow

Golf News

Rory McIlroy plans Tiger tribute on Sunday at WGC-Workday
Organisers "thrilled" with Day 1 of virtual Scottish Golf Show
Tiger Woods' team provides update on golf icon's condition
Annika Sorenstam at centre of rules farce on return to golf
Roadmap for safe return of golf in England published

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
Fix your grip with Denis Pugh
Watch
play button
Keeping your height throughout the swing
Watch
play button
Don’t close your clubface at address
Watch
play button
How to hit a fade
Watch
See all videos right arrow