The Oddball Golf Putter Company That Private Equity Just Bought for $200 Million
LVMH-backed L Catterton has taken a majority stake in L.A.B. Golf
- L Catterton, backed by LVMH, has taken a majority stake in L.A.B. Golf at a valuation of over $200 million.
- J.J. Spaun’s U.S. Open win using an L.A.B. putter significantly boosted the company’s popularity and sales.
- L.A.B. Golf’s putters, which start at $399, are designed to reduce torque during putting
Just over a month ago, L.A.B. Golf was a niche company that sold bizarre-looking putters. Then millions of golf fans watched J.J. Spaun use one to sink a 64-footer and win the U.S. Open.
And now private equity has scooped up L.A.B.
L Catterton, the private-equity firm backed by luxury-goods giant LVMH, has bought a majority stake in L.A.B. Golf at a valuation of over $200 million, people familiar with the matter said.
The deal represents a remarkable rise for a company that started inside a trailer and began with its founder, Bill Presse, hawking putters from the back of his car, before it grew into one of the hottest startups in golf.
L.A.B., which stands for Lie Angle Balance, has grown in popularity thanks to designs that the company says eliminate torque, the twisting force that can cause a putter’s head to rotate unintentionally. The Creswell, Ore.-based company says that its patented technology and craftsmanship make the maddening task of trying to tap a small ball into a hole much easier.
The science behind L.A.B.’s putters is also what makes them some of golf’s most peculiar looking products. The putters feature screws that vary in size and weight on the bottom that give them a distinct appearance—and the balance that players swear by. More and more top pros have adopted them in recent years, and in any given week these days, about a dozen PGA Tour players are using an L.A.B. putter.
After Spaun’s victory, demand for the putters swelled from everyday players eager to level-up their games. The company sold about 130,000 units last year, and is on pace to roughly triple that in 2025.
The putters are far from cheap. They start at $399 on L.A.B.’s website, and modifications can send the price over $1,000.
L Catterton, whose investments have included Birkenstock shoes, Restoration Hardware and Peloton, focuses on consumer brands. The firm has recently invested in private-jet company Flexjet and exercise chain Solidcore.
The people familiar with the deal said L.A.B. CEO Sam Hahn will remain with the company.