Centroid to divest control of TaylorMade as exit strategy, drops IPO plan

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Centroid to divest control of TaylorMade as exit strategy, drops IPO plan - Korea Economic Daily

Quick Summary:

Centroid Investment Partners, a South Korean private equity firm, has confirmed plans to divest its controlling stake in US sports equipment manufacturing firm TaylorMade Golf Co., opting for an outright sale over an initial public offering.

Centroid acquired TaylorMade, one of the world’s top golf club brands, from New York-based KPS Capital Partners in 2021 for around $1.7 billion, making it one of the largest cross-border deals by a Korean private equity group.

Analysts said the proposed stake sale is expected to attract strategic and financial investors keen to capitalize on TaylorMade’s global brand recognition and strong growth trajectory, particularly as the pandemic-era golf boom shows signs of structural durability.