Golfsupport.co.uk Limited acquired in a multi-million deal
Golfsupport.co.uk Limited is a highly regarded, independent organisation, providing a comprehensive range of high-quality golf equipment and merchandise. The company has experienced significant growth since its inception in 2003, with the strength of its extensive product range and highly dedicated workforce providing an ideal platform from which to pursue further expansion.
The shareholders, John Lines, Michelle Lines and Gary Swift, approached KBS Corporate with the sale of their business in order to pursue a lifestyle change.
KBS Corporate implemented a highly successful research strategy which produced 51 interested parties from both trade and private equity buyers.
The successful offer came from overseas trade buyer PGC backed by private equity firm Inspiring Sport Capital. The private equity firm has offices in Paris and London and specialises in the sports industry and economy. The group consists of over 20 leading investors who invest in a wide range of sports-based opportunities. PGC Group aims to double its turnover in 2021 and cross the threshold of €30 million in revenue given these external growth operations and the strong resilience of the golf market in Europe.
Guy Haynes, KBS Corporate Finance Corporate Director advised Golfsupport.co.uk Limited throughout the process, with legals being provided by Nick Life and Nicola Bilner from TLT.
John Lines, CEO at Golfsupport.co.uk, says: “We are delighted to become part of the growing PGC Group. Our mission has always been to provide a one stop shop for players and professionals and this will ensure that we can continue to achieve this goal. We are grateful to TLT for their advice and professionalism, and for working seamlessly with the parties to complete the deal.”
Guy Haynes, KBS Corporate Finance corporate director, adds: “From the outset, it was clear that PGC were an extremely strong fit, who shared our clients’ beliefs and ambitions for Golfsupport. John, Michelle and Gary have built an outstanding business with a high-class reputation in the growing golf industry, and I am delighted that they have been well rewarded for their efforts. Good deals require good people and it has been an absolute pleasure to work with them, as well as the team from TLT, on this transaction.”
Richard Life, partner at TLT who led the team, says: “We’re continuing to see overseas interest in businesses that have secured a strong foothold in the UK and European markets. This is a great way for many companies to take their growth to the next level, and we are delighted to have been able to support Golfsupport.co.uk on this major milestone.”