The statement says they sold to a private equity firm tells me everything I need to know. They’re going to come in and cut costs for labor by laying people off, slash benefits for employees, look for cheaper materials and suppliers, and sell their putters at a higher price to increase their margins. Everything PE touches, turns to shit whether it’s businesses, housing, healthcare, higher education. They are the vultures of finance and pick at the corpse until they have squeezed out every dollar of profit at the expense of people.
Plus_Midnight_278
Just think kids, you too can become an entrepreneur and sell out to private equity as soon as conveniently possible!
BikingArkansan
Gonna go downhill quick. PE doesn’t know how to run a business. They only know how to increase profits by reducing spending
Easy_Championship_14
Selling out to private equity, that’s the dream.
the_caped_canuck
This only ends one way, and it’s not good.
BluefinPiano
this happened so fast. it feels like they finally got validation their product is real and then immediately sold to the highest bidder. good for them i guess but now i hope the PE firm loses millions and lab golf goes under.
meduelelacabeza
Ugh, fuck PE…
daylax1
Didn’t think I’d see the downfall of LAB so quickly, but here we go! Sad to see the original owners only cared about getting rich and can’t wait for all the YouTube golfers to start shilling for lab at every chance like Takomo.
Early_Incident_2000
PE ruins everything.
Mre1905
Probably the right call for them. They are as popular as ever and it’s a great time for the owners to divest. I anticipate the market will be flooded with putters from competitors that offer the same benefits for cheaper prices. The PE firm will work on on a plan to sell lab golf to one of the bigger golf companies. My bet is Callaway buys them in a couple of years.
Infamous-Fudge1857
PE won’t stop till it has its hands on everything :/
boatclubballer
Damn, what a bummer. Get your bag boo boo, but as someone who works in finance, get ready to see a lot of “synergies” cut out the core and culture of LAB.
Podtastix
Gross
NoviceAxeMan
the guy begging to not think it’s bad because they’re PE 😂😂😂😂 good riddance
3Jacked
It was always going to happen.
icecoldcoleman
The pathetic begging to give the PE firm a chance is so funny
bartolocologne40
So they’re about to get more and more expensive for worse and worse quality
HPclahnz
Did Costco pull the funniest move of all time?
jimineycricket123
These guys have left a bad taste in my mouth ever since the fireside chat podcast where they effectively did 10 podcast infomercials and then shut down the podcast afterwards. Just always screamed marketing was what made the product sell more than anything. I’m sure the putters are good but after that I figured the owner was a cornball. Here we are.
shortbyndlongmeat
Cash out and fuck off, but the new PE guys are greeeeat rofl
DonnieRoss
For those of you who didn’t know, Bill Presse (guy who confirmed sale) is the guy who invented LAB putters. He sold most of the company to Sam Hahn, a marketing/business guy who then became the “crazy genius” face of the company (despite not being in the golf/engineering business). The company went nuclear and I’m not at all surprised to see Hahn cash out before the golf world moves on to the next craze.
The writing was on the wall for years, really. Back in the early days, LAB spent so much energy stressing the need for a perfect fitting of length and lie angle. Then over the years this became… meh, an inch or a couple degrees of lie angle isn’t that important. Suddenly “stock” LABs started showing up the the floor at every major retailer. What was once a tailored, bespoke design became a mass-manufactured “good enough” product.
bsgreene25
If someone I personally know (or even I myself) created a product and a brand that took off, gained credibility and became valuable, causing some private equity group to swoop in and offer a silly amount of money to take it over, I would see that as an absolute win.
Dude probably just secured a level of generational wealth that guarantees financial security for every member of his family for decades, if not lifetimes. At the end of the day, he doesn’t owe anyone any explanation for doing whatever he wants with the company that he built, including selling it.
tbrock92
Kirkland signature putters are about to be so back.
No-Kitchen5212
PE Will suck every penny out of the product while cutting everything else including innovation just like they always do every single time. LAB had a good run. Hope that guy got his money’s worth though
SuperTittySprinkles
Well there goes another good thing down the toilet
Mr_Baloon_hands
lol if it’s Private Equity it means the quality is gonna turn to shit and the prices are going to skyrocket.
archiveofhim
so should I get a lab putter now before they roll out their cost reduced/higher priced putters?
Blox05
SELL OUT! LOL.
The Costco thing feels like a hoax now to show the PE folks how much product could be moved if the price point was lowered.
What an absolute CLOWN this dude is.
Half_Past_Five
LAB putters now a very affordable $799!
Cosmiccowinkidink
No chance a PE firm can sustain the individual customer service and precise fitting lab was doing. They are gonna ramp up production and you’ll find standard models everywhere.
SeatBroad573
Cut the quality, increase the price.
amataranails
Meanwhile Ping remains family owned.
whiskeygolfer
Hopefully the PE company will run that lunatic bill presse off the property
MetalHead_Literally
I get this sucks for fans of the company, but it’s pretty silly anyone is upset with the dude for selling. On the back of Spauns putt, I can’t imagine their value will ever be higher, especially as all competitors are now copying their designs.
Finglishman
Great time to exit with every putter maker coming up with a competing zero torque design and undercutting LAB in price. Good for the founders to get rewarded for their innovation.
Grube1310
Start Up, Cash In, Sell Out, Bro Down.
Sagybagy
So what he is saying is buy a lab now or forever hold your ping. Because their products are going to be shit soon. PE is never a good thing except for the original owners pockets.
MickeyTettleton
I always like seeing guys with LAB putters miss
Green-Stretch-2542
Those putter are hideous anyways. They look like they should be sold at Walmart and it sounds like they will be in the near future.
bertbert46
Red Lobster, Sears, Sports Authority, and RadioShack.
Just a tiny list of the institutions PE ruined. Private Equity’s goal is just to milk the business for money, not to make a good product.
brianm9
LOL he made a big show about Costco bc he was worried it would sink his sale
Dazzling-Plum-1710
Really curious to see how the PE guys plan to justify a 25% price hike for a lesser quality putter.
misterjefe83
Lmaooo incredible pe yeah. No shame in getting the bag but gtfo with that wonderful journey crap
Starfish_Croissant
PE ruins everything. Good for the people who got their bag, not going to hate on them. LAB is done. A putter that cost as much as a used car, and I get to support PE in the process? Compelling pitch, but I will pass.
IsaacJacobSquires
That’s a lot of words to say “I’m rich as fuck, thanks for buying my ugly putters. Bye.”
47 Comments
PE and “incredible” does not compute
Private equity sale? Cooked product
The statement says they sold to a private equity firm tells me everything I need to know. They’re going to come in and cut costs for labor by laying people off, slash benefits for employees, look for cheaper materials and suppliers, and sell their putters at a higher price to increase their margins. Everything PE touches, turns to shit whether it’s businesses, housing, healthcare, higher education. They are the vultures of finance and pick at the corpse until they have squeezed out every dollar of profit at the expense of people.
Just think kids, you too can become an entrepreneur and sell out to private equity as soon as conveniently possible!
Gonna go downhill quick. PE doesn’t know how to run a business. They only know how to increase profits by reducing spending
Selling out to private equity, that’s the dream.
This only ends one way, and it’s not good.
this happened so fast. it feels like they finally got validation their product is real and then immediately sold to the highest bidder. good for them i guess but now i hope the PE firm loses millions and lab golf goes under.
Ugh, fuck PE…
Didn’t think I’d see the downfall of LAB so quickly, but here we go! Sad to see the original owners only cared about getting rich and can’t wait for all the YouTube golfers to start shilling for lab at every chance like Takomo.
PE ruins everything.
Probably the right call for them. They are as popular as ever and it’s a great time for the owners to divest. I anticipate the market will be flooded with putters from competitors that offer the same benefits for cheaper prices. The PE firm will work on on a plan to sell lab golf to one of the bigger golf companies. My bet is Callaway buys them in a couple of years.
PE won’t stop till it has its hands on everything :/
Damn, what a bummer. Get your bag boo boo, but as someone who works in finance, get ready to see a lot of “synergies” cut out the core and culture of LAB.
Gross
the guy begging to not think it’s bad because they’re PE 😂😂😂😂 good riddance
It was always going to happen.
The pathetic begging to give the PE firm a chance is so funny
So they’re about to get more and more expensive for worse and worse quality
Did Costco pull the funniest move of all time?
These guys have left a bad taste in my mouth ever since the fireside chat podcast where they effectively did 10 podcast infomercials and then shut down the podcast afterwards. Just always screamed marketing was what made the product sell more than anything. I’m sure the putters are good but after that I figured the owner was a cornball. Here we are.
Cash out and fuck off, but the new PE guys are greeeeat rofl
For those of you who didn’t know, Bill Presse (guy who confirmed sale) is the guy who invented LAB putters. He sold most of the company to Sam Hahn, a marketing/business guy who then became the “crazy genius” face of the company (despite not being in the golf/engineering business). The company went nuclear and I’m not at all surprised to see Hahn cash out before the golf world moves on to the next craze.
The writing was on the wall for years, really. Back in the early days, LAB spent so much energy stressing the need for a perfect fitting of length and lie angle. Then over the years this became… meh, an inch or a couple degrees of lie angle isn’t that important. Suddenly “stock” LABs started showing up the the floor at every major retailer. What was once a tailored, bespoke design became a mass-manufactured “good enough” product.
If someone I personally know (or even I myself) created a product and a brand that took off, gained credibility and became valuable, causing some private equity group to swoop in and offer a silly amount of money to take it over, I would see that as an absolute win.
Dude probably just secured a level of generational wealth that guarantees financial security for every member of his family for decades, if not lifetimes. At the end of the day, he doesn’t owe anyone any explanation for doing whatever he wants with the company that he built, including selling it.
Kirkland signature putters are about to be so back.
PE Will suck every penny out of the product while cutting everything else including innovation just like they always do every single time. LAB had a good run. Hope that guy got his money’s worth though
Well there goes another good thing down the toilet
lol if it’s Private Equity it means the quality is gonna turn to shit and the prices are going to skyrocket.
so should I get a lab putter now before they roll out their cost reduced/higher priced putters?
SELL OUT! LOL.
The Costco thing feels like a hoax now to show the PE folks how much product could be moved if the price point was lowered.
What an absolute CLOWN this dude is.
LAB putters now a very affordable $799!
No chance a PE firm can sustain the individual customer service and precise fitting lab was doing. They are gonna ramp up production and you’ll find standard models everywhere.
Cut the quality, increase the price.
Meanwhile Ping remains family owned.
Hopefully the PE company will run that lunatic bill presse off the property
I get this sucks for fans of the company, but it’s pretty silly anyone is upset with the dude for selling. On the back of Spauns putt, I can’t imagine their value will ever be higher, especially as all competitors are now copying their designs.
Great time to exit with every putter maker coming up with a competing zero torque design and undercutting LAB in price. Good for the founders to get rewarded for their innovation.
Start Up,
Cash In,
Sell Out,
Bro Down.
So what he is saying is buy a lab now or forever hold your ping. Because their products are going to be shit soon. PE is never a good thing except for the original owners pockets.
I always like seeing guys with LAB putters miss
Those putter are hideous anyways. They look like they should be sold at Walmart and it sounds like they will be in the near future.
Red Lobster, Sears, Sports Authority, and RadioShack.
Just a tiny list of the institutions PE ruined. Private Equity’s goal is just to milk the business for money, not to make a good product.
LOL he made a big show about Costco bc he was worried it would sink his sale
Really curious to see how the PE guys plan to justify a 25% price hike for a lesser quality putter.
Lmaooo incredible pe yeah. No shame in getting the bag but gtfo with that wonderful journey crap
PE ruins everything. Good for the people who got their bag, not going to hate on them. LAB is done. A putter that cost as much as a used car, and I get to support PE in the process? Compelling pitch, but I will pass.
That’s a lot of words to say “I’m rich as fuck, thanks for buying my ugly putters. Bye.”