L.A.B. Golf, the Oregon-based company known for its Lie Angle Balanced putters, has sold a majority stake to a private equity firm, signaling a major shift for one of golf’s most innovative equipment brands.
The deal was quietly confirmed by co-founder Bill Presse IV in a post on a L.A.B. Facebook group in which he and L.A.B. CEO Sam Hahn routinely contribute:
“Yes, we sold the majority shares of L.A.B.,” he wrote. “The new owners are incredible… I’m also a shareholder in the new company and hopefully very much involved going forward.”
No official announcement has been released by L.A.B. Golf. Numerous reports have named L Catterton as the private equity firm that has purchased majority ownership with a valuation of $200 million.
According to the L Catterton website:
“Since 1989, L Catterton has made more than 275 investments in leading consumer brands across all segments of the consumer industry. With approximately $37 billion of assets under management dedicated to growing middle market companies and emerging high-growth enterprises, we believe we are the largest and most experienced consumer-focused private equity group in the world.”
The acquisition marks L Catterton’s first known investment in the golf industry.
The deal comes on the heels of explosive growth, fueled by J.J. Spaun’s U.S. Open win earlier this summer using L.A.B.’s DF3 putter. That high-profile victory further validated the company’s torque-free design on the game’s biggest stage. Make no mistake—L.A.B. was one of golf’s hottest brands even before the Spaun victory, but orders soared even more following his win at Oakmont.
Until now, L.A.B. Golf had been bootstrapped, operating with a small team and no traditional outside investment. The company was born from a radical idea by Presse, who invented the Lie Angle Balance concept under the original Directed Force brand. In the spring of 2018, Hahn stepped into the role of CEO, and the company was rebranded as L.A.B. Golf, with Presse continuing as chief inventor and engineer. Sales and popularity have continued to rise since that time.
Update:
Sam Hahn will remain as CEO of L.A.B Golf. I reached out to him for comment and received this reply:
“We now have the resources to do everything we can imagine. The whole team is so excited!”
We can also report that the process to find the right investor took approximately two years, and that L Catterton was chosen in large part because of their track record of supporting the existing culture of companies and helping them thrive with increased marketing and production support. Primary manufacturing is expected to remain in Creswell, Oregon.
Related Links
L.A.B. Golf Official Website
L Catterton Official Website
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