Feel Golf buys assets of Caldwell Golf, prepares to make further deals

MONTEREY, Calif. -- Feel Golf Co. has signed an engagement agreement with Security Research Associates as investment banker for acquisition financing up to $20 million, company officials have announced.

The agreement "will assist us in our acquisition plans of other target companies we believe will add significant value to our own overall revenue growth plans," said Feel Golf Chairman and CEO Lee Miller. "With SRA's expertise and experience along with their client base, we look forward to a number of successful transactions over the next 12-18 months that we believe, will add significant shareholder value."

In addition, Feel Golf has purchased the assets of Caldwell Golf Co. for an undisclosed amount.

"I am pleased to report that we have signed a definitive agreement with Feel Golf Company, Inc. for the majority of our assets," said Caldwell Golf President and CEO Bruce Caldwell. "Feel Golf's USA retail and international distribution partners open up a tremendous amount of new markets for the Caldwell brand. We are excited to have Caldwell's ceramic technology in drivers, fairway woods and putters combined with a known industry leader in technological innovation."

Caldwell Golf "has some very valuable technology in its patents and product lines and when combined with our distribution channels opens up some attractive opportunities for increased sales and revenues as well as market awareness," said Feel Golf's Miller. "This acquisition is part of our overall growth strategy to acquire technologically advanced golf equipment that can significantly improve all golfers' playing performance and experience and increase shareholder value."

Caldwell Golf offers advanced ceramic technology for improved performance of drivers, fairway woods and putters. Feel Golf is known for its wedges, as well as its full line of golf clubs and innovative reverse taper golf grips.