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M&A Deal Summary

First Atlantic Capital Acquires Golfsmith

On October 16, 2002, private equity firm First Atlantic Capital acquired retailer Golfsmith

Acquisition Highlights
  • This is First Atlantic Capital’s 1st transaction in the Retail sector.
  • This is First Atlantic Capital’s 6th transaction in the United States.
  • This is First Atlantic Capital’s 1st transaction in Texas.
Investment Fate
  • Golfsmith went public in 2006.
  • Golfsmith was sold to a financial buyer in 2012.
  • Golfsmith went bankrupt in 2016.
  • Golfsmith was sold to a strategic buyer in 2016 for 69M USD.

M&A Deal Summary
Date 2002-10-16
Target Golfsmith
Sector Retail
Buyer(s) First Atlantic Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Golfsmith

Austin, Texas, United States
Golfsmith is a specialty retailer of golf equipment and related accessories in the industry and is an established designer and marketer of golf equipment. Golfsmith offers equipment from leading manufactures such as Callaway, Cobra, Footjoy, Nike, Ping, Taylor Made, and Titleist in addition to proprietary brands Golfsmith, Lynx, Snake Eyes, and Killer Bee. The Company markets its products through 42 superstores as well as through its direct-to-consumer channel, which includes clubmaking and accessory catalogs and an Internet site.

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Buyer(S) 1

Buyer

First Atlantic Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

First Atlantic Capital is a private equity firm that seeks investments in medium-sized US-based businesses valued between $100 and $500 million. Sectors of interest include business services, industrial and consumer goods, packaging, plastics, food processing, general manufacturing, and value-added distribution. First Atlantic typically targets control investment situations. The Firm has a particular interest in companies with strong expansion opportunities, either organic or through acquisitions, or companies with strong business foundations where a few operational improvements can substantially better financial performance. In addition to its private equity investing activity, First Atlantic manages First Atlantic Real Estate, a New York based real estate investment firm wholly owned by First Atlantic Capital. First Atlantic Capital was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 6 of 14
Sector: Retail M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 7
State: Texas M&A 1 of 2
Country: United States M&A 6 of 14
Year: 2002 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-28 Berry

Evansville, Indiana, United States

Berry is a manufacturer and marketer of plastic packaging products for personal care, household, industrial, and transportation markets. Berry was incorporated in 1967 and is based in Evansville, Indiana.

Sell $838M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-04 Prestolite Electric

Plymouth, Michigan, United States

Prestolite is a global manufacturer of alternators and starter motors selling into niche markets for heavy-duty, military and industrial applications. Prestolite’s products are primarily manufactured for larger vehicles, including trucks, buses, emergency and off-road vehicles.

Buy -
Mergr

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