Private equity firm Platinum Equity has hired advisers from investment bank Goldman Sachs in exploring a sale of golf cart manufacturer Club Car that could value the company at more than $2bn, including debt, according to a report by Reuters citing unnamed sources.
The report cites unnamed sources in confirming that Platinum Equity is in the early stages of working with the Goldman Sachs advisers, as well as Club Car generating EBITDA of over $200m.
Platinum Equity acquired Club Car from industrial components maker Ingersoll-Rand in 2021 for about $1.7bn.
Club Car’s products are used by the Professional Golfers’ Association of America amongst other large organisations in the circuit, as well as in tourism and other sectors. The company also provides maintenance and repair services for its carts and works with over 350 distributors and dealers globally, according to its website.
