TaylorMade

TaylorMade
Subsidiary
Genre Golf
Founded 1979 (McHenry, Illinois)
Founder Gary Adams
Headquarters Carlsbad, California, U.S.
Key people
 David Abeles (CEO)
Products Golf products
Parent Salomon Group (1984–2005)
Adidas (2005–2017)
KPS Capital Partners (2017-)
Website www.taylormadegolf.com

TaylorMade Golf Company is an American manufacturer of golf clubs, bags and accessories based in Carlsbad, California, United States. TaylorMade Golf was sold by adidas to KPS Capital Partners in October 2017.

TaylorMade's initial success came with the innovation of metal drivers, which debuted in 1979 and have subsequently dominated the golf market.[1] In September 2012, Outside magazine named TaylorMade one of America's "Best Places to Work".[2]

History

TaylorMade incorporated in 1979 after Gary Adams borrowed $24,000 on his house and leased a 6,000 square foot building in McHenry, Illinois. He originally had three employees and sold only one item, his newly invented 12-degree loft metalwood. The metalwood was unique in its steel construction - replacing persimmon as the primary material from which modern drivers are manufactured - and adopted the nickname "Pittsburgh Persimmon".[3]

Starting with $47,000 in sales in 1979, the company eventually reached its first billion dollars in revenue in 2006, marking only the second time in history that a golf brand had achieved this milestone.[4] TaylorMade was independently owned until 1984, when Salomon S.A. acquired the company. At the time, the union was strategically compatible for both companies which were innovators in their industries: Salomon wanted to diversify and made the decision to enter a "three-season" market, and TaylorMade benefited from the worldwide resources of Salomon. This ownership maintained until Adidas bought Salomon in 1997.[5]

Shortly after the Adidas acquisition, the image and focus of TaylorMade were redirected to take over the driver market; the company succeeded in achieving this goal in late 2005, when it officially became the top driver in golf. TaylorMade bought golf clothing companies Ashworth in 2008 and Adams Golf in 2012. On May 10, 2017 it was announced that KPS Capital Partners acquired TaylorMade for US$425 million.[6] The deal is expected to be completed in late 2017.[7]

Days after the deal was completed, TaylorMade released a statement to say it had parted company with Sergio García, who had been with the brand for 15 years.[8]

Tour professionals

An accurate, updated list of TaylorMade Golf's sponsored athletes, who compete on the PGA, Web.com, European, Champions, LPGA, and other major tours around the world, can be found on the company's brand website.

Other Top Tour Professionals

See also

References

  1. ↑ "History of Taylor Made Golf Co. – FundingUniverse".
  2. ↑ "TaylorMade named one of Outside's best places to work". PGA.com.
  3. ↑ "Golf Equipment That Changed the Game". Golf.com.
  4. ↑ Mike Camunas. "TaylorMade Golf History".
  5. ↑ News, Bloomberg (1997-09-17). "Adidas to Buy Salomon, a French Sports Company". The New York Times. ISSN 0362-4331. Retrieved 2017-11-07.
  6. ↑ Matuszewski, Erik. "This Week In Golf Biz: TaylorMade Is Sold, McIlroy's $100 Million Deal, PXG's New Wedges". Forbes. Retrieved 2017-11-07.
  7. ↑ http://www.golf.com/equipment/2017/05/10/taylormade-golf-sold-425-million-kps-capital-partners-lp
  8. ↑ Inglis, Martin (October 9, 2017). "Sergio Garcia announces shock split from TaylorMade". bunkered.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.