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Adams Golf’s Brewer Says Sale, Dividend Among Strategic Options

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Bloomberg Buisness Report today By: Matt Townsend.

Adams Golf Inc., the golf club seller that today said it hired Morgan Stanley to review strategic alternatives, may consider among its options a sale or starting a dividend, Chief Executive Officer Chip Brewer said.

Potential suitors for Plano, Texas-based Adams include Callaway Golf Co., Nike Inc. and Adidas AG, said a person familiar with the matter, who declined to be identified because the discussions are private.

Adams Golf, founded by Chairman Barney H. Adams in 1987, boosted sales 14 percent to $97.4 million in the 12 months ended Sept. 30. After posting a net loss of $12.2 million in 2009, the company has made money in six of the past seven quarters. The shares, which gained 37 percent last year, rose 4.3 percent after the close to $6.58 at 6:32 p.m. in New York.

“We are going to go through with a process that best helps shareholder value,”

Brewer said today in a telephone interview.

Morgan Stanley, based in New York, advised Fortune Brands Inc. last year on the sale of its Titleist golf unit to a group led by Fila Korea Ltd. for $1.23 billion in cash.

The review may not result in a transaction, Adams said today in a statement.

Click here to read entire article on bloomberg… http://www.businessweek.com/news/2012-01-05/adams-golf-s-brewer-says-sale-dividend-among-strategic-options.html

According to a thread on GolfWRX one writer says:

Who’s buying Adams? I’m guessing Under Armour. Golfbiz is reporting Adams is for sale. My question is who’s the players? Under Armour was a rumor on Titleist/Acushnet, could they be interested in Adams now, who’s gotta be cheaper that the Titleist acquisition. Ideas?

On GolfWRX reader are all over this. Suitors have been picked. Click here to read discussion in the forums… http://www.golfwrx.com/forums/topic/564999-whos-buying-adams-im-guessing-under-armour/

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GolfWRX is the world's largest and best online golf community. Expert editorial reviews, breaking golf tour and industry news, what to play, how to play and where to play. GolfWRX surrounds consumers throughout the buying, learning and enrichment process from original photographic and video content, to peer to peer advice and camaraderie, to technical how-tos, and more. As the largest online golf community we continue to protect the purity of our members opinions and the platform to voice them. We want to protect the interests of golfers by providing an unbiased platform to feel proud to contribute to for years to come. You can follow GolfWRX on Twitter @GolfWRX and on Facebook.

2 Comments

2 Comments

  1. Adams Golfer

    Jan 6, 2012 at 4:55 pm

    As a shareholder of Adams Golf, I’m excited that Chip has finally looked at this route. There is no reason for this company to be public, and a take private or a sale to a strategic is exactly what is needed to unlock shareholder value. With Callaway trading at 13.8x EV/EBITDA, it looks like Adams should go for a pretty penny.

  2. r8ted wrx

    Jan 6, 2012 at 4:43 pm

    I would like to see Adams succeed but if not then I believe Nike needs to go after them. It would make Nike that much better and able to compete more with Taylormade and Titleist.

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Equipment

Forum Thread of the Day: “Lighter shaft for dealing with joint tiredness?”

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Today’s Forum Thread of the Day comes from Zigzog, who is a long-time golfer searching for the best methods for dealing with joint tiredness and aching elbow pain during/following his rounds. Zigzog has been considering moving to a lighter shaft to reduce the pain, and our members have been sharing their tips and tricks on the subject.

Here are a few posts from the thread, but make sure to check out the entire discussion and have your say at the link below.

  • Galanga: “Passenger in the same boat. I believe lighter weight and shock absorption is the ticket — many stories to of it working on this site. I second the prior poster’s suggestion to not go down in weight too quickly. For me, the graphite shaft selection effort has been a rabbit hole. Probably best to go to a fitter w lots of options and expertise.”
  • KensingtonPark: “I am in a similar position as you. I am experimenting with tour weighted graphite shafts in my irons. It definitely seems to help, as vibration more than weight is the source of my joint fatigue. That and a lack of stretching…”
  • rwc356: “I’ve been playing 50+ years and started feeling my age about 10 years ago. While I never had a plus handicap, I did play to a single digit handicap until my early 50’s. Arthritis and other health issue started creating havoc with my game, and I made the transition to graphite and more forgiving clubs. I was afraid to leave what I knew, and so I converted a few clubs (5 iron and 7 iron) to graphite and tried them for a number of rounds. It wasn’t long before I realized that I could play them as well as steel shafts and so I added the rest of short irons. Been playing 3 seasons with graphite and not sure I could go back. I love old blades and have a number of sets which I sneak back to every so often – result is always the same, shaft too heavy and body too sore. Good luck with finding a solution that fits your game best.”
  • jjfcpa: “I’m 72 years old and didn’t start playing golf till I was 67, so I have no memory of what it was like to play steel shafts or have a fast swing speed. I find that playing lighter shafts (in my case graphite) to be much easier on the joints. I also found that doing strength training at the gym doing the offseason really makes it much easier to maintain your performance level during the golf season.”

Entire Thread: “Lighter shaft for dealing with joint tiredness?”

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Whats in the Bag

Tyrrell Hatton’s winning WITB: 2019 Turkish Airlines Open

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Driver: Ping G410 Plus (9 degrees set at 8.4)
Shaft: Mitsubishi Diamana RF 60-TX

Fairway wood: TaylorMade M6 HL (16.5 degrees, bent to 15.7)
Shaft: Graphite Design Tour AD TP 7X

Fairway wood: Ping G410 (20.5 degrees)
Shaft: Graphite Design Tour AD TP 8X

Irons: Ping i210 (4-PW)
Shafts: Nippon Modus3 Tour 120 X

Wedges: Ping Glide Forged (50 degrees), Titleist Vokey Design SM7 Raw (54-08M, 60-10S)
Shafts: True Temper Dynamic Gold Tour Issue X100

Putter: Ping Vault Oslo

Grips: Golf Pride New Decade MCC

Ball: Titleist Pro V1x

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Equipment

WRX Spotlight: Cobra King Forged TEC irons

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The skinny: As Ryan Barath first reported, the introduction of the newest Cobra King Forged TEC irons for 2020, it is taking speed and forgiveness to a whole new level.

Behind what appears to be an extremely traditional-looking muscleback iron hides a huge amount of technology designed to help players of all abilities, whether it be with a traditional variable-length set or with Cobra’s One Length set—more on that latter. The King Forged TEC irons are a hollow-body design that utilizes a thin face supported by what Cobra engineers call energizing foam microspheres, to both fine-tune acoustics (sound/feel) of the head, while also supporting the PWRSHELL Face for increased ball speeds, according to the company.

Our take on Cobra King Forged TEC irons

Not only do the new Cobra Forged TEC irons pass the eyeball test, but the engineers at Cobra have also developed a club with excellent performance.

In our own testing, the clubs had several features which really stood out

Performance out of the rough: with the low tungsten insert, the low center of gravity performs outstanding from thick lies.

Face consistency: with other similar clubs, our experience is that perfectly struck shots tend to “fly”, sometimes flying considerably longer. With the Forged Tec, the face is incredibly consistent. Off-center hits, particularly off the toe, fly remarkably well.

Chipping: with a clean look, and little offset, one of the additional nuances of these clubs is how good they are to chip (pitch) with.

When ordering the set, keep in mind that there is only a two-degree difference between the 5 (23 degrees) and 4-iron (21 degrees). This lead to some uneven gapping and as a result, we discarded the 4-iron and instead decided to bend the 5-iron, one degree strong.

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