HOT TEE. Golf has found its swing again, evidenced by a deal unveiled on Tuesday for TaylorMade. Four years after buying the brand from Adidas (ADSGn.DE) for $425 million, private equity firm KPS Capital is selling it to South Korean peer Centroid Investment Partners for $1.6 billion, per The Korea Economic Daily. The socially distant game exploded in popularity during the pandemic. A record 3 million Americans got on a course for the first time in 2020, twice as many beginners as in 2011, based on a U.S. trade group’s figures. After enduring an earlier industry slump, Callaway’s equity value has nearly tripled to some $6 billion over the past year, with analysts estimating a 73% increase in annual revenue. According to local media, Centroid is paying 12 times projected 2021 EBITDA for TaylorMade, whose reps include top-ranked Dustin Johnson. That’s a discount to Callaway and Titleist owner Acushnet, suggesting that if the sport’s rebound persists TaylorMade’s new owner has a shot at hitting the green too. (By Jeffrey Goldfarb) On Twitter http://twitter.com/breakingviews Earlier in Capital Calls: Japan’s one-woman show flops read more Roblox sees Covid recovery flip side read more AstraZeneca’s pay bung tarnishes its charity read more Carlyle’s political assets read more Bain Capital feasts on food giants’ castoffs read more