[Alpha Biz= Paul Lee] SEOUL, August 4 — The sale of TaylorMade, one of the world’s top three global golf brands, is officially underway. Centroid Investment Partners (Centroid PE), which acquired the company in 2021, is planning to hold a preliminary bidding round in the fourth week of August, according to sources in the investment banking industry.
Centroid PE and its financial advisors—J.P. Morgan and Jefferies, acting as co-lead managers—will shortlist potential buyers based on their indicative pricing, strategic fit, funding capacity, and investment intent. Following due diligence, final bids will be collected to determine the preferred bidder.
This deal marks Centroid’s exit from TaylorMade roughly three years after its KRW 2.15 trillion (approx. USD 1.6 billion) acquisition in 2021. Centroid distributed a teaser letter to global investors in early June to gauge interest.
Separately, F&F Co., Ltd. (KRX: 383220)—a strategic investor (SI) in the original 2021 acquisition—has formally expressed interest in exercising its right of first refusal (ROFR). On July 21, F&F appointed Goldman Sachs as its financial advisor for the potential acquisition and is reportedly in talks with domestic and international financial institutions to secure deal financing.
As part of its initial investment, F&F committed capital to both mezzanine and equity funds at the time of Centroid’s takeover. Under the terms of the original agreement, F&F may elect to acquire TaylorMade on the same terms and conditions offered by the winning bidder in the final round. Although the entire bidding process remains closed to F&F, it retains access to the investment memorandum (IM) and other transaction documents necessary to assess whether to exercise its ROFR.
According to industry estimates, TaylorMade generated approximately USD 222 million in EBITDA in 2023. Based on full ownership of the company, the sale price is expected to be in the range of KRW 4 trillion to KRW 5 trillion (USD 3–3.8 billion).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
