이 기사는 2021년 05월 14일 06:43 thebell 에 표출된 기사입니다.

Centroid Investment Partners has agreed to acquire TaylorMade, one of the largest golf equipment makers in the world, amid growing interest of private equity (PE) in the golf industry.

The Seoul-based PE firm started its process to take over TaylorMade more than one year ago by directly approaching KPS Capital Partners, which owns the U.S. golf company.

Centroid submitted the proposal to the seller, hoping to enter the domestic golf company by utilizing TaylorMade’s global brand power.

However, as the seller decided to offload the company through a public auction instead of a private deal, Centroid prepared for the bidding, hiring local law firm Kim & Chang, U.S.-based law firm DLA Piper, KPMG, and Bain & Company as its advisors.

During the process, Centroid purchased South Springs Country Club (CC) in Icheon, Gyeonggi Province, in January.

Centroid advanced alongside rival bidders from the U.S. and China to the final round of bidding in February. The firm was selected as the preferred bidder for TaylorMade in April and signed a stock purchase agreement with the seller earlier this month.

With this cross-border deal reportedly worth nearly 2 trillion won ($1.7 billion), the PE firm is expected to strengthen its presence in the Korean golf equipment market, which is the third largest in the world.

Founded in 1979, TaylorMade is one of the leading golf equipment makers in North America, but lacks competitiveness in the Korean market. Centroid’s latest investment will fulfill TaylorMade’s plan to make a foray into the Korean market as well.

Centroid is expanding its networks in the golf industry by taking over the South Springs CC. It aims to enhance TaylorMade’s brand power by carrying out marketing campaigns with celebrities at tournaments held at South Springs CC.

The PE firm also plans to upgrade the TaylorMade’s apparel business to enter the rapidly growing domestic golf apparel market. (Reporting by Seon-young Kim)