Montreal-based Northbridge Equity Partners launched the Summit Golf Brands golf-apparel platform, which currently holds the Fairway & Greene and EP Pro sportswear lines.
Northbridge originally acquired Fairway & Greene in the summer of 2004. Alongside the recent acquisition of EP Pro, Northbridge announced that it was launching the Summit platform to house the two companies. EP Pro fills out the rollup with a woman’s line of golf apparel.
Golf has been a destination for spot for private equity groups in and out of the boardroom. In addition to Northbridge, a number of other firms have pursued the sector, including Wellspring Capital, Thoma Cressey Equity Partners and First Atlantic, among others.
Until now, much of the activity has been on the retail side, and the golf apparel market hasn’t been a prime target of private equity interest. Last year MCG Global led a relatively small deal to buy golf hat-maker Imperial Headwear, and this past December, the publicly held Ashworth hired Houlihan Lokey Howard & Zukin to advise it evaluating its strategic alternatives, but overall golf apparel deals have been fairly muted.
A spokesperson for Fairway & Greene was unsure if there would be more acquisitions in the offing for the Summit platform, and calls to Northbridge were not returned by press time.
Terms of the EP Pro acquisition were not disclosed.