Worldwide Golf and Capitol Hill Group Acquire Big 5 Sporting Goods

Callaway Golf Company Completes Merger with Topgolf International

March 8, 2021

Media & Entertainment

Callaway Golf Company and Topgolf International have completed their previously announced merger to form a combined, tech-enabled golf and entertainment leader. Under the terms of the deal Callaway issued approximately 90 million shares to Topgolf shareholders; immediately post-close Callaway shareholders owned ~51.3% and former Topgolf shareholders owned ~48.7% of the combined company, which is headquartered in Carlsbad, California with Topgolf operations based in Dallas, Texas.

Topgolf Callaway Brands Acquires BigShots Golf Assets from Invited

November 1, 2023

Restaurants & Hospitality

Topgolf Callaway Brands Corp. acquired certain assets related to the BigShots Golf business from Invited, Inc., including four U.S. venues (one owned, three franchised), development rights and related assets. The deal, with an initial purchase price of approximately $29 million, also includes a preferred vendor agreement with Invited to feature Topgolf Callaway Brands' products at Invited's club portfolio, expanding the company's off-course golf footprint and strategic partnerships.

GT Golf Supplies Acquires The ProActive Sports Group

December 18, 2023

Consumer Products

GT Golf Supplies, a Kinzie Capital Partners LP-backed wholesale golf distributor, has acquired The ProActive Sports Group, a Canby, Oregon-based national golf accessories distributor. The deal adds ProActive's Oregon distribution facility as a fourth DC, broadens GT Golf's product portfolio (including Clicgear, Rovic and Tempercraft lines), and expands the combined company's national footprint and e-commerce capabilities.

Fencing Supply Group Acquires Capitol Wholesale Fence Company

September 8, 2021

Building Products

Fencing Supply Group (FSG), a platform backed by The Sterling Group, has acquired Capitol Wholesale Fence Company, a full-service fencing supplier based in Nashville, Tennessee with more than 80 employees and multiple regional branches. The deal is the seventh add-on for the FSG platform and expands its distribution and manufacturing footprint across the southeastern United States.

Roebling Capital Partners Acquires Longstreth Sporting Goods

September 6, 2023

Consumer Products

Roebling Capital Partners has acquired Longstreth Sporting Goods, a U.S.-based field hockey-focused sporting goods brand founded in 1977 and headquartered in Spring City, Pennsylvania. Greenwich Capital Group acted as exclusive financial advisor to Longstreth; the transaction positions Roebling to support the brand's growth and continue the company's legacy serving female athletes.

Leonard Green Acquires 60% Stake in Topgolf from Topgolf Callaway Brands

January 1, 2026

Restaurants & Hospitality

Private equity funds managed by Leonard Green & Partners acquired a 60% stake in Topgolf and Toptracer from Topgolf Callaway Brands, valuing the Topgolf unit at approximately $1.1 billion. Topgolf Callaway Brands received about $800 million in net cash proceeds, retained a 40% stake, and used proceeds to repay $1 billion of term loan debt while announcing a corporate name change back to Callaway Golf Company.