Management Completes Its Golf Club Maker Buyout : Manufacturing: A public offering of stock may be made. The acquisition was reported to be for $3.5 million.

HUNTINGTON BEACH —  Managers of an upstart golf club maker with an internationally known name have completed a $3.5-million management buyout and may consider a public offering later this year.

Fila Golf was bought by a team led by Chairman Miles Doody, who designed the line of golf clubs that the company began marketing in January, 1991.

Huntington Beach-based Fila was bought for $3.5 million in three-year, 11% notes sold to American, Swiss and German investors. The notes will be converted into 1.8 million shares of common stock within 90 days, Doody said.

The company makes a full line of golf clubs, including the Nessie oversize metal-wood driver and the Taggart full-mill series putter. The clubs are sold under a 20-year licensing arrangement with Fila SpA, the Italian sportswear giant.

Doody said the private placement was so successful that he may try another one to raise more money for research and development of new products, as well as advertising, promotion and sales. In addition, he said he is considering an initial public offering.

Doody said the private placement and public offering are part of a strategy to quickly grow the company. “The whole idea is growth,” Doody said.

The company was started in June, 1990, by Charles Myers, president of Superior Industries in Omaha, Neb., who is a golfing enthusiast. Myers, however, said he could not devote as much time to the new venture as he would have liked.