New York, New York (October 13, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm advised KSA Capital Advisors, which is acting as financial advisor to golf sportswear company Ashworth, in its definitive agreement to be acquired by TaylorMade-adidas Golf. The transactions value is approximately $72.8 million, which includes the assumption of $46.3 million of Ashworth debt. The deal is expected to close in the fourth quarter of 2008.
Through the acquisition of Ashworth, TaylorMade-adidas Golf will become the leading and most balanced golf apparel company with a complete apparel offering for golfers globally. The transaction will enable TaylorMade-adidas Golf to widen its product range, to further strengthen its distribution platform and to extend its marketing presence.
New York partner Charles Baker led the Paul Hastings team, which included associate Rich Rubano.
About KSA Capital Advisors: A subsidiary of management consulting firm Kurt Salmon Associates, KSA Capital Advisors is an industry-focused investment banking practice, delivering a select mix of financial and strategic advisory services to companies at all levels of the consumer products supply chain.
Paul, Hastings, Janofsky & Walker LLP is one of the world's leading law firms, with 1,300 lawyers in 18 international offices. Our practice breadth enables us to deliver innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.