True Sports, the parent company behind giant shaft retailer True Temper, recently announced that it is in the process of acquiring Accra Golf Shafts. The acquisition was part of a larger acquisition of Accra’s parent company, Premium Golf Management Co. (PGMC)
Accra is the premium graphite shaft company trusted by professional golfers from all over the world. Most recently, Gary Woodland used Accra during the U.S. Open this year.
Although the terms of the acquisition were not disclosed, it has potentially exciting implications for the golfing industry. Here is what you need to know about True Sports, Accra, and what the acquisition means for golfing:
True Sports’ Rebranding Efforts
The acquisition was part of larger corporate rebranding efforts on True Sports’ part. The company’s success in the industry can be traced back to its partnership with the investment firm Lincolnshire Management, headed by CEO TJ Maloney, to help create more valuation in True Sports.
TJ Maloney, who is a golfing fan himself, worked closely with True Temper to create a tailored approach to increasing its value.
Lincolnshire takes a personalized approach to its business investments with dedicated, small teams. Thanks to Maloney and Lincolnshire Management’s venture with the company, it was able to restructure aggressively after an unexpected downturn in the golfing industry.
Lincolnshire Management helped identify potentially valuable opportunities for growth. The firm gets a deep understanding of the business structure and helps companies create plans to realize their value. Lincolnshire has developed and perfected its strategy of investing and acquiring over the course of three decades. The company has a 33-year track record of identifying growth and creating a plan to see it happen.
As a result of this strategy framework, True Sports saw impressive results even after the economic downturn that led to it becoming the leader that it is today. Under TJ Maloney’s leadership, True Sports is seeing strong growth.
TJ Maloney
This growth led to the opportunity to acquire Accra. True Sports’ golf shaft division includes True Temper, Accra, and Project X brands. “Given the current aggressive growth rates and continued future expansion across all of our product categories, now is the perfect time to unify our brands and our company under one banner, cementing our position as a leader in performance sports products,” says Jeremy Erspamer, CEO and president of True Sports.
There are other changes to the organization as well. True Sports now has divisions in hockey, baseball, ice skating, and lacrosse. Most notably, True Temper launched a new premium ice hockey brand that is used by over 130 NHL players.
Source:https://www.dailyforexreport.com/improvements-in-store-as-giant-true-temper-acquires-accra/