A START-UP golf company has seen it’s value soar to $200 million after a massive takeover deal.
The company made the putter which JJ Spaun used to win the US Open this summer.
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And that has led to a bid from a private equity firm.
L.A.B. Golf made the DF3 putter which Spaun used at Oakmont in Pennsylvania in June.
The American finished one under par to win by two shots from Robert MacIntyre.
And the unorthodox putter he used on the way to victory was the talk of the town.
According to the Wall Street Journal, private equity firm L Catterton is set to buy L.A.B. Golf.
The company is headquartered in Greenwich, Connecticut and has a value of $33 billion.
L.A.B’s putters have become increasingly popular on tour.
They sold around 130,000 of them last year.
And that could be tripled in 2025, according to the Wall Street Journal story.
Their investments include stakes in Birkenstock and Peloton.
According to Golf Digest, this would be the largest purchase of a putter brand since Callaway brought Odyssey for $130 million in 1997.
Spaun needed his putter to help him seal a dramatic victory in the US Open in June.
He faced a 64-foot putt on the 18th hole in his final round.
And Spaun sent the crowd wild as he drained the long putt.
The 34-year-old said, “We kind of got a good line, a good read on the speed.
“I was more focused on how hard he was hitting it.
“I kind of knew the line already, but it looked like he gave it a pretty good whack because it started raining there for the last 10, 15 minutes.
“I just tried to pick my line and put a good stroke on it.
“I knew it was going to be a little slow.”
He added, “About eight feet out, I kind of went up to the high side to see if it had a chance of going in, and it was like going right in.
“I was just in shock, disbelief that it went in and it was over.”
