Explore All 120 Divestiture Leisure Deals - Search the Database Free
M&A Deal Summary |
|
|---|---|
| Date | November 18, 2025 |
| Target | Topgolf |
| Sector | Leisure |
| Buyer(s) |
Leonard Green & Partners
Topgolf Callaway Brands |
| Sellers(s) | Topgolf Callaway Brands |
| Deal Type | Divestiture |
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| Category | Private Equity Firm |
|---|---|
| Founded | 1989 |
| PE ASSETS | 75.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.
| Deal Context for Buyer | # |
|---|---|
| Overall | 108 of 108 |
| Sector: Leisure | 3 of 3 |
| Type: Divestiture | 6 of 6 |
| State: Texas | 18 of 18 |
| Country: United States | 100 of 100 |
| Year: 2025 | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-11-18 |
Toptracer
Dallas, Texas, United States Toptracer is the most-used and most-trusted advanced ball-tracing technology. The first of its kind to be introduced to the game of golf, Toptracer has revolutionized the way players experience the game at Topgolf venues, play at driving ranges, and watch major golf tournaments on television. Today, Toptracer technology powers 900+ driving ranges in more than 33 countries. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-12-16 |
Service Logic
Charlotte, North Carolina, United States Service Logic is an independent provider of aftermarket maintenance, repair, and replacement services for commercial HVAC equipment, chilled water systems, and building automation and control systems. Service Logic was formed in 1945 and is based in Denver, Colorado. |
Sell | - |
| Category | Company |
|---|---|
| Founded | 1982 |
| Sector | Consumer Products |
| Employees | 30,000 |
| Revenue | 4.2B USD (2024) |
Topgolf Callaway Brands designs, manufactures and sells golf clubs (drivers, fairway woods, hybrids, irons, wedges and putters) and golf balls, and also sells golf accessories (such as golf bags, golf gloves, headwear, towels, umbrellas and travel gear) under the Topgolf Callaway Brands and Odyssey brand names. The Company generally sells its products to retailers, directly and through its wholly-owned subsidiaries, and to third-party distributors. Topgolf Callaway Brands also licenses its trademarks and service marks in exchange for a royalty fee to third parties for use on golf related accessories, including apparel, footwear, eyewear, rangefinders and practice aids. Topgolf Callaway Brands was founded in 1982 and is based in Carlsbad, California.
| Deal Context for Buyer | # |
|---|---|
| Overall | 10 of 10 |
| Sector: Leisure | 2 of 2 |
| Type: Divestiture | 2 of 2 |
| State: Texas | 4 of 4 |
| Country: United States | 9 of 9 |
| Year: 2025 | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-11-18 |
Toptracer
Dallas, Texas, United States Toptracer is the most-used and most-trusted advanced ball-tracing technology. The first of its kind to be introduced to the game of golf, Toptracer has revolutionized the way players experience the game at Topgolf venues, play at driving ranges, and watch major golf tournaments on television. Today, Toptracer technology powers 900+ driving ranges in more than 33 countries. |
Sell | - |
| Category | Company |
|---|---|
| Founded | 1982 |
| Sector | Consumer Products |
| Employees | 30,000 |
| Revenue | 4.2B USD (2024) |
Topgolf Callaway Brands designs, manufactures and sells golf clubs (drivers, fairway woods, hybrids, irons, wedges and putters) and golf balls, and also sells golf accessories (such as golf bags, golf gloves, headwear, towels, umbrellas and travel gear) under the Topgolf Callaway Brands and Odyssey brand names. The Company generally sells its products to retailers, directly and through its wholly-owned subsidiaries, and to third-party distributors. Topgolf Callaway Brands also licenses its trademarks and service marks in exchange for a royalty fee to third parties for use on golf related accessories, including apparel, footwear, eyewear, rangefinders and practice aids. Topgolf Callaway Brands was founded in 1982 and is based in Carlsbad, California.
| Deal Context for Seller | # |
|---|---|
| Overall | 4 of 4 |
| Sector: Leisure | 1 of 1 |
| Type: Divestiture | 4 of 4 |
| State: Texas | 2 of 2 |
| Country: United States | 3 of 3 |
| Year: 2025 | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-11-18 |
Toptracer
Dallas, Texas, United States Toptracer is the most-used and most-trusted advanced ball-tracing technology. The first of its kind to be introduced to the game of golf, Toptracer has revolutionized the way players experience the game at Topgolf venues, play at driving ranges, and watch major golf tournaments on television. Today, Toptracer technology powers 900+ driving ranges in more than 33 countries. |
Sell | - |
