/Courtesy of TaylorMade
/Courtesy of TaylorMade

Centroid Investment Partners (hereafter Centroid PE) has selected JP Morgan and Jefferies as the lead managers for the sale of the global golf brand TaylorMade, which is being mentioned as a big deal in the 5 trillion won range.

According to the investment banking (IB) industry on the 18th, Centroid PE selected JP Morgan and Jefferies as the lead managers for the sale of TaylorMade on that day. Previously, JP Morgan had acted as the lead manager for the 1 trillion won refinancing of the acquisition financing for TaylorMade.

It is reported that the selection process for the lead managers of this sale involved competition from Bank of America (BofA), Morgan Stanley (MS), and others. Earlier, Centroid PE conducted presentation evaluations for global IBs on the 12th and 13th of this month.

Centroid PE acquired TaylorMade for approximately $1.7 billion (about 2 trillion won at that time) after establishing a project fund in 2021. Domestic fashion corporations F&F, Saemaul Geumgo, National Agricultural Cooperative Federation, and other entities participated as fund investors.

Centroid PE has tentatively reported TaylorMade's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the previous year at $222 million (approximately 321.3 billion won). Accordingly, Centroid PE expects TaylorMade's corporate value to be around 5 trillion won, which is 15 times the EBITDA.

Centroid PE has stated that it will consider various options, including the sale of management rights and an initial public offering (IPO).