Sidley Advises Leonard Green & Partners on Financing for Majority Acquisition of Topgolf

Sidley is advising private equity funds, managed by Leonard Green & Partners, L.P., on the financing aspects of their definitive agreement to acquire a 60% stake in Topgolf Callaway Brands Corp.’s Topgolf and Toptracer business. The transaction values Topgolf at approximately US$1.1 billion, with Topgolf Callaway Brands expecting to receive about US$770 million in net proceeds, subject to adjustments. The transaction is expected to close in the first quarter of 2026.

The Sidley team is being led by Shayona Schiely, and includes Kristen Smith, Scott Dawson, Shaobin Zheng, and Megan Bradley, all members of the firm’s Global Finance group.

Sidley continues to provide market-leading advisory services in complex transactions across multiple industries, further solidifying its role as a trusted adviser in the private equity space.