Comprehensive M&A data with integrated detailed company information

Topgolf looks to tee off with IPO: Reuters
Posted on Wednesday, 09 October 2019 10:18
Topgolf International has been in discussions with investment banks regarding a possible initial public offering (IPO) next year, sources close to the situation told Reuters.

According to those people in the know, who asked not to be identified as the matter is private, the company is looking to raise capital to fund new sites across the US, UK, Mexico, Dubai and Canada, the news provider noted.

The sources stressed that while no definite plans have been confirmed, Topgolf has invited several banks to pitch for an underwriting role in the potential listing.

Headquartered in Dallas, Topgolf is billed as a global sports and entertainment community where customers can play a range of golfing games using micro-chipped ball technology to track distance and accuracy.

The company’s brands include Toptracer, Swing Suite and World Golf Tour, which it claims is the leading 3D online golfing game, with more than 15.00 million users globally.

Topgolf has 56 centres worldwide, including three in the UK and one in Australia.

When contacted by Reuters about the possible IPO, the company declined to comment.

Topgolf is not the first golfing business to hit the headlines: private equity firm KPS Capital Partners bought golf equipment and clothing brands manufacturers TaylorMade, Adams Golf and Ashworth from Adidas for USD 425.00 million in December 2017.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 294 deals targeting companies operating in the amusement, gambling and recreation industries signed off worldwide since the start of 2019.

In the largest of these so far, Kirkbi Invest, through Motion Acquisition, agreed to buy the remaining stake it did not already own in UK-based Merlin Entertainments for GBP 4.16 billion.

Other companies targeted in this sector include Crown Resorts, Sazka Group, Holiday Entertainment and Giga Games System Operation.

© Zephus Ltd