PE Weekly: Topgolf Callaway Divests Stakes in Topgolf, Toptracer
Topgolf struck a deal with Leonard Green, but it wasn't the only golf-related transaction this week
Platform Investments
Topgolf Valued at $1.1 Billion in PE Sale. Topgolf Callaway Brands has entered into an agreement to sell a majority stake in its Topgolf and Toptracer brands to Leonard Green & Partners, according to a press release. The transaction values the company at about $1.1 billion, with proceeds from the sale valued at about $770 million. The transaction will allow the company to focus on its golf equipment and active lifestyle platform, which includes the Callaway, Odyssey, TravisMathew, and Ogio brands.
TSG Consumer Backs Pura Vida Miami. Café and health and wellness brand Pura Vida Miami announced it received a minority investment from TSG Consumer, a consumer brands-focused private equity firm. The backing will fuel Pura Vida’s continued expansion across the country.
Blackford Capital Invests in Texas Injection Molding. Texas Injection Molding, which manufactures precision-engineered injection molded industrial components, has received an investment from Blackford Capital. The backing will support company expansion and add-on acquisitions.
Morgan Stanley Acquires World 50. World 50, which offers private peer communities for senior-level executives, has been acquired by Morgan Stanley Capital Partners, the middle market-focused private equity firm of Morgan Stanley Investment Management.
Warburg Pincus Takes ECN Capital Private. Warburg Pincus, a global growth investor, has reached an agreement to acquire ECN Capital, a Canada-based provider of business services to banks, investors, and others. The transaction will delist ECN from the Toronto Stock Exchange.
TPG, La Caisse Partner to Back Pike Corporation. Global alternative asset manager TPG announced this week its partnership with La Caisse to acquire a majority stake in Pike Corporation. The company provides turnkey infrastructure engineering and construction solutions for the electrical grid.
Angeles Equity Takes Majority Stake in Technique. Angeles Equity Partners announced its majority acquisition of Technique this week. The company provides complex, high-mix, low-volume metal fabrication solutions for a variety of industries, including aerospace and defense, power generation, and motorsports.
GTCR Acquires Fiduciary Trust Company. Private equity firm GTCR announced this week its acquisition of Fiduciary Company Incorporated and its subsidiaries, together known as Fiduciary Trust Company. The company is a private wealth manager and trust company serving high net worth individuals, families, and institutions.
Add-Ons
Gryphon Investors’ Rootstock Software Acquires Praxis. Rootstock Software, a provider of cloud ERP solutions, announced its acquisition of Praxis Solutions, a Salesforce consulting firm. Rootstock is a portfolio company of middle-market private investment firm Gryphon Investors.
Victor Capital Forms Security Services Platform. Middle-market private equity firm Victor Capital announced four acquisitions this week, combining the businesses into a security services platform. The firm acquired regional security companies and will launch the new platform in 2026, it said.
Exits
RF Investment Exits Two Software Businesses. Growth capital investor RF Investment Partners announced two exits of software platforms, NetVendor and OffenderWatch. NetVendor offers vendor credentialing and compliance software for property management companies, and was acquired by Rothschild & Co.’s alternative assets arm Five Arrows. OffenderWatch offers registration and compliance software for law enforcement agencies, and was acquired by STG.
Clearlake Exits Concert Golf Partners to Bain Capital. Clearlake Capital Group has exited Concert Golf Partners, an owner-operator of private golf and country clubs. Bain Capital’s Private Equity and Real Estate teams acquired the assets and will support continued growth for the business.
Sheridan Capital Exts Tarrytown to Carlyle. Sheridan Capital Partners has sold a majority stake in Tarrytown Expocare Pharmacy, a long-term care pharmacy serving the intellectually and developmentally disabled and behavioral health communities. Global investment firm Carlyle acquired the assets. Sherdian will retain a minority stake in the business.
Fundraising
J.P. Morgan’s PE Group Raises $1.75 Billion. J.P. Morgan Asset Management’s Private Equity group announced the close of its second co-investment fund, PEG Co-Investment Fund II. The firm raised $1.75 billion.
Monomoy Raises $500 Million for MCOF III. Monomoy Capital Partners announced this week it raised more than $500 million for its Monomoy Credit Opportunities Fund III. The fund supports Monomoy’s credit strategy of investing in senior secured debt of middle-market industrial, consumer, and business services companies.
Monogram Capital Raises $350 Million for Fund III. Monogram Capital Partners, a private equity firm focused on the consumer sector, has closed its third fund with $350 million in capital commitments. Monogram Capital Partners Fund III will support the firm’s investment strategy, which includes investing in consumer businesses and the supply chain and services businesses that support them.
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