Private equity firm Platinum Equity has hired advisers from investment bank Goldman Sachs in exploring a sale of golf cart manufacturer Club Car that could value the company at more than $2bn.
The report cites unnamed sources in confirming that Platinum Equity is in the early stages of working with the Goldman Sachs advisers, as well as Club Car generating EBITDA of over $200m.
Platinum Equity acquired Club Car from industrial components maker Ingersoll-Rand in 2021 for about $1.7bn.
Club Car’s products are used by the Professional Golfers’ Association of America amongst other large organisations in the circuit, as well as in tourism and other sectors. The company also provides maintenance and repair services for its carts and works with over 350 distributors and dealers globally, according to its website.
Source: Private Equity Wire
Can’t stop reading? Read more
Main Capital targets $5bn fundraise and continuation vehicle growth amid renewed LP appetite
Main Capital targets $5bn fundraise and continuation vehicle growth amid renewed LP appetite Main...
Blackstone taps private credit market for £1.1bn Clarion dividend recap
Blackstone taps private credit market for £1.1bn Clarion dividend recap Blackstone’s Clarion...
Apollo- and Vistria-backed University of Phoenix owner jumps 19% in $1.35bn NYSE debut
Apollo- and Vistria-backed University of Phoenix owner jumps 19% in $1.35bn NYSE debut Phoenix...