Centroid picks The Nature Holdings to join acquisition of TaylorMade Korean PE firm and apparel company to establish joint venture
Translated by Kim So-in 공개 2021-06-16 08:06:42
이 기사는 2021년 06월 16일 08:04 thebell 에 표출된 기사입니다.
Seoul-based private equity (PE) firm Centroid Investment Partners has selected South Korean mid-size apparel manufacturer The Nature Holdings as its strategic partner in its acquisition of California-based company golf equipment company TaylorMade.Centroid has picked The Nature Holdings as its equity investor to inject 100 billion won ($89.6 million) in the buyout on Sunday, according to industry sources.
Centroid last month signed a stock purchase agreement to buy a 100% of TaylorMade for around $1.7 billion from U.S.-based PE firm KPS Capital Partners. The Seoul-based firm plans to finance 600 billion won from equity investments, 300 billion won from mezzanine investments and 900 billion won from acquisition financing, with some coming from the strategic investor in equity investments.
Major retailers like Lotte, Shinsegae, and GS, Nexen Tire, Kakao, CJ as well as mid-sized apparel manufacturers including F&F alongside The Nature Holdings submitted their proposals to participate in the buyout deal.
Centroid has picked The Nature Holdings as its partner to bolster fashion line for the international brand. The apparel business accounts for 2% of TaylorMade’s total revenue, significantly lower than Titleist’s 26% and Callaway Golf’s 22%. Centroid has seen growth potential in the apparel fashion business as Korean golfers spend the largest amount of money per person on golf equipment and clothing in the world.
The Nature Holdings is credited for growing National Geographic brand as one of popular fashion brands in Korea. The Nature Holdings’ revenue has grown at an annual average rate of more than 60% since 2017 thanks to National Geographic’s rapid growth.
Centroid and the apparel manufacturer are highly likely to establish a joint venture. With Centroid selecting its strategic investor, the fundraising process is expected to speed up. The deal is likely to close next month. (Reporting by Se-hun Jo)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 우리금융 "롯데손보 M&A, 과도한 가격 부담 안한다"
- 신한캐피탈, 지속성장 포트폴리오 리밸런싱 체계 강화
- 하나금융, ELS 악재에도 실적 선방…확고한 수익 기반
- 하나금융, 자본비율 하락에도 주주환원 강화 의지
- 국민연금, '역대 최대 1.5조' 출자사업 닻 올렸다
- [도전 직면한 하이브 멀티레이블]하이브, 강한 자율성 보장 '양날의 검' 됐나
- [퍼포먼스&스톡]꺾여버린 기세에…포스코홀딩스, '자사주 소각' 카드 재소환
- [퍼포먼스&스톡]LG엔솔 예견된 실적·주가 하락, 비용 절감 '집중'
- [퍼포먼스&스톡]포스코인터, 컨센서스 웃돌았지만 주가는 '주춤'
- 신한금융, ‘리딩금융’ 재탈환에 주주환원 강화 자신감