© 2015 The Texas Lawbook.
By Brooks Igo
(Feb. 23) – Dallas-based Topgolf Entertainment Group (TEG) announced yesterday that Providence Equity Partners is making a “sizable minority investment” in the company famous for its innovative golfing games.
TEG – the parent company of Topgolf, Topgolf Media and Topgolf International – did not disclose specific terms of the transaction, but did indicate that the capital will be used to accelerate venue expansion and media strategy.
TEG plans to open at least seven new Topgolf venues in 2016, including its flagship on the Las Vegas Strip, according to a press release.
Dallas lawyer Robert Little led a Gibson Dunn deal team for TEG. Associates Jonathan Whalen, Krista Hanvey and Timothy Fisher also advised on the transaction.
Last month, Little helped Topgolf create the world’s largest digital golf audience in its acquisition of World Golf Tour, the leading web and mobile golf game with more than 14 million players worldwide.
A primarily Boston-based corporate team from Weil, Gotshal & Manges that included Dallas tax partner Jared Rusman served as the legal adviser to Providence Equity Partners on the investment.
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