Article
Johnnie-O Founder Explores Exit With Goldman Sachs Leading Auction
Reporting: Dayna Fields
Johnnie-O, a privately owned premium golf apparel brand, is exploring a sale process alongside Goldman Sachs as its financial advisor, according to sources.
The company generates roughly $25 million in EBITDA, sources noted.
In 2022, Wasatch Global Investors and Ares Management invested $108 million into the brand and became minority investors, according to a press release. That same release announced the company hired its first chief marketing officer, Norma Delaney.
According to Octus’ BDC Database, Ares Capital Corp. held roughly $17.4 million of Johnnie-O’s first lien debt due March 2027, priced at SOFR+ 550 bps, as of March 31. Fair value of the debt is marked slightly above par, at 100.57.
The Raleigh, N.C.-based company was founded by John O’Donnell in Santa Monica, Calif., in 2005. The brand features polos, button-downs, bottoms, swimwear, outerwear and active lifestyle gear. Prices go up to $175, and polos ranging from $125 to $135 are the brand’s sweet spot.
Other apparel companies that have tested the market over the past year include Fabletics, a women’s “athleisure” brand that was once partially owned by Kate Hudson. Last year, the company paused an auction process after federal tariff announcements shook the apparel industry, according to Octus.
Other sports-focused companies in the market include Marucci Sports, a sporting equipment business owned by Nasdaq-listed Fox Factory. Bank of America is running a sale process for Marucci, Octus reported.
Goldman Sachs and Johnnie-O did not return requests for comment.
This publication has been prepared by Octus Intelligence, Inc. or one of its affiliates (collectively, "Octus") and is being provided to the recipient in connection with a subscription to one or more Octus products. Recipient’s use of the Octus platform is subject to Octus Terms of Use or the user agreement pursuant to which the recipient has access to the platform (the “Applicable Terms”). The recipient of this publication may not redistribute or republish any portion of the information contained herein other than with Octus express written consent or in accordance with the Applicable Terms. The information in this publication is for general informational purposes only and should not be construed as legal, investment, accounting or other professional advice on any subject matter or as a substitute for such advice. The recipient of this publication must comply with all applicable laws, including laws regarding the purchase and sale of securities. Octus obtains information from a wide variety of sources, which it believes to be reliable, but Octus does not make any representation, warranty, or certification as to the materiality or public availability of the information in this publication or that such information is accurate, complete, comprehensive or fit for a particular purpose. Recipients must make their own decisions about investment strategies or securities mentioned in this publication. Octus and its officers, directors, partners and employees expressly disclaim all liability relating to or arising from actions taken or not taken based on any or all of the information contained in this publication. © 2026 Octus. All rights reserved. Octus(TM) and the Octus logo are trademarks of Octus Intelligence, Inc.