TRUE Sports, which is backed by Lincolnshire Management, has acquired Aerotech Golf, a designer and distributor of high-end composite golf shafts. No financial terms were disclosed.
NEW YORK, Dec. 5, 2019 /PRNewswire/ — Lincolnshire Management today announced that TRUE Sports, a portfolio company and the leading golf shaft manufacturer in the world, has acquired Aerotech Golf, a designer and distributor of high-end composite golf shafts. This third acquisition during Lincolnshire Management’s ownership was financed from the balance sheet of TRUE Sports, but no other financial information was disclosed.
True Temper is known throughout the golf industry as the number one shaft in golf. Aerotech is renowned for its unique multi-material SteelFiber line of golf shafts that combine carbon fiber with high strength steel filaments. Adding Aerotech to the lineup of TRUE Sports golf brands, including True Temper, Project X and ACCRA, cements TRUE Sports’ position as the global leader in golf shaft innovation across all product categories. The company’s shafts dominate professional tours around the world with their iron shafts being used by 70% of PGA Tour players.
“We have been working actively with the management team at TRUE Sports to identify opportunities to extend their leadership position in the sporting goods space, particularly golf shafts,” said T. J. Maloney, Chairman and CEO of Lincolnshire Management. “Adding Aerotech’s extremely popular SteelFiber line of shafts to the TRUE Sports stable of products further reinforces the company’s leadership in multi-material golf shaft design and manufacturing.”
“For TRUE Sports, this transaction is about adding an advanced technology to our suite of products, creating more opportunities for research and development, while expanding into adjacent product categories,” said Philip Kim, a Managing Director at Lincolnshire Management. “During our ownership, we have also diversified the business to become a multi-sport brand.”
About Lincolnshire Management
Lincolnshire Management, founded in 1986, is a private equity firm focused on investing in and acquiring growing middle-market companies across an array of industries. Headquartered in New York, with an office in Chicago, Lincolnshire invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire manages over $1.7 billion of private equity capital. For more information: www.lincolnshiremgmt.com
About TRUE Sports
A leading innovator & manufacturer of premium sporting goods, TRUE Sports, Inc., is a leader in golf, hockey, lacrosse, and diamond sports industries. The company produces a wide variety of premium performance products under the True Temper, Project X, Grafalloy, ACCRA, Aerotech, and TRUE brands in countries throughout the world. More than 1,000 individuals in 10 facilities proudly represent TRUE Sports across the United States, Europe, Japan, China and Australia.