This article was posted on Nov. 11, 2025, at 11:13 a.m. on ChosunBiz MoneyMove (MM).
Acoma Partners, a domestic emerging private equity firm, has moved one step closer to acquiring global golf brand PXG. Acoma is pursuing a joint co-invest with KB Investment. If the acquisition succeeds, it would become the third global golf brand owned by Korean capital.
On the 11th, sources in the investment banking industry said Acoma Partners established a special purpose company (SPC), Acoma Partners Korea, earlier this month to acquire PXG. Though it had said the acquisition was in an early stage, the establishment of an SPC indicates the transaction has progressed.
Acoma Partners is reported to be raising funds not only domestically but also in the United States. A source in the investment banking industry said, "The fact that they established an SPC during the investment process suggests the early stage has passed," and added, "It is likely they have secured a main sponsor or raised some funds."
Another source in the investment banking industry also said, "Generally, establishing an SPC is done in the late stages of a deal," and added, "Because they likely signed a non-disclosure agreement (NDA) with the seller, they will probably be as quiet as possible until deal closing."
The sale price of PXG that Acoma and KB Invest are discussing with the Parsons side has not yet been revealed. As a private company, its financial situation is shrouded, making it difficult to gauge corporate value. Market research firms estimate PXG's annual revenue at the mid-$100 million level, which converts to roughly 200 billion won.
Acoma Partners is a newly established manager formed in July this year. It is led by Go Seung-guk, who previously worked at Woori Private Equity, Hanwha Asset Management, and Alchemist Capital Partners. At KB Investment, the PE investment division led by Director Lee Su-ho is reviewing whether to invest.
PXG is a golf brand founded in 2014 by American businessman Bob Parsons after selling his internet company; it quickly raised awareness with high-priced golf clubs and apparel. The company name is an abbreviation of Bob Parsons Xtreme Golf. Parsons holds 100% equity.
In 2011, Acushnet, which operates Titleist, the world's No. 1 golf brand, was acquired by FILA Holdings Corp. Korea and Mirae Asset Financial Group for 1.3 trillion won, and another golf brand, TaylorMade, was acquired in 2021 by domestic private equity Centroid Investment Partners for 2.1 trillion won.