[Alpha Biz= Paul Lee] As the selection of the preferred bidder for global golf brand TaylorMade—one of this year’s biggest M&A deals—is approaching, U.S.-based golf-focused investment firm Old Tom Capital has emerged as a leading candidate. While relatively unknown in South Korea, the owner family of Old Tom Capital comes from the trusted Roosevelt lineage in the U.S. and is known for a long-term investment approach.
According to sources in the investment banking (IB) industry on the 15th, Old Tom Capital reportedly offered over USD 3 billion (approximately KRW 4.4 trillion) in the final bid for the full management stake (100%) of TaylorMade held by private equity firm Centroid Investment. JP Morgan and Jefferies served as joint lead advisors for the sale.
A senior IB executive commented, “Initially, a U.S.-based multi-family office (MFO) of high-net-worth individuals was also considered a strong candidate. However, in terms of price, transaction certainty, and industry understanding, Old Tom Capital appears to have received higher evaluations. The seller is currently conducting a careful final review before formally selecting the preferred bidder.” The executive added, “F&F still holds a preemptive right, so Old Tom Capital has not yet been officially notified as the preferred bidder.”
Once the seller formally notifies the preferred bidder, F&F is expected to conduct due diligence to acquire TaylorMade under the agreed terms. Within 14 days, F&F will decide whether to purchase TaylorMade under the same terms offered by the preferred bidder.
F&F participated as a strategic investor (SI) in the Centroid consortium in 2021, securing preemptive rights and consent rights over key management decisions.
Old Tom Capital is a golf industry-focused investment firm headquartered in Denver, Colorado. Unlike traditional institutional investors such as pension funds, its main limited partners (LPs) are high-net-worth entrepreneurs and family offices. Since its founding in 2022, the firm has invested in various golf-related businesses, including DriveBox, Quiet Golf, TMRW Sports, FairGame, Russo Cloud, Birdie Hausis, and Sweetenscove.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
