Private equity firm Platinum Equity has hired advisers to explore a sale of Club Car that could value the golf cart maker at more than $2 billion, including debt.
Platinum Equity is in the early stages of working with investment bank Goldman Sachs on the sale, which is expected to attract interest from buyout firms, the sources said.
Club Car generates 12-month earnings before interest, taxes, depreciation and amortization (EBITDA) of more than $200 million, the sources added, requesting anonymity because the matter is confidential.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Platinum Equity acquired Club Car from industrial components maker Ingersoll-Rand (IR.N) in 2021 for about $1.7 billion. One of its competitors, E-Z-GO, is owned by Textron (TXT.N) maker of the Cessna business jet.
Source: Reuters
Can’t stop reading? Read more
JPMorgan to arrange $6.5bn debt package for 3G Capital’s Skechers acquisition
JPMorgan to arrange $6.5bn debt package for 3G Capital’s Skechers acquisition JPMorgan is...
Ares targets $2bn+ for new Asia special situations fund amid regional credit expansion
Ares targets $2bn+ for new Asia special situations fund amid regional credit expansion Ares...
Partners Group and Sella launch Italy’s first evergreen private equity ELTIF fund for retail investors
Partners Group and Sella launch Italy’s first evergreen private equity ELTIF fund for retail...