Share this article Share this article LOS ANGELES, April 12, 2021 /PRNewswire/ -- Platinum Equity announced today it has entered into a definitive agreement to acquire Club Car from Ingersoll Rand (NYSE:IR) in a transaction valued at approximately $1.7 billion. The acquisition, subject to standard closing conditions, is expected to be completed by the third quarter of 2021. Founded in 1958 and headquartered in Augusta, Georgia, Club Car is a global manufacturer of golf cars, utility, personal transportation and other low-speed vehicles, including all-electric models, and related aftermarket parts and services. The business has been owned by Ingersoll Rand since 1995. "Club Car is an iconic golf brand that for more than 60 years has set the industry standard for quality and innovation," said Platinum Equity Chairman and CEO Tom Gores. "We appreciate Ingersoll Rand's confidence in our ability to build on that legacy and support Club Car's continued growth and expansion as a standalone company."