Foresight announces successful sale of Clubhouse Golf to all4golf delivering a 6x return

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  • The fourth successful exit for Foresight’s PE team in twelve months
  • In all4golf, Clubhouse Golf has a strong strategic partner for future growth
  • Foresight is one of the UK’s most active regional investors in SMEs

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Manchester, 20 April 2020: Foresight Group LLP (“Foresight”), a leading independent infrastructure and specialist regional private equity investment manager, is pleased to announce the successful sale of Clubhouse Golf (“Clubhouse” or “the Company”), the UK’s largest independent online retailer of golf equipment, to all4golf, a leading European ecommerce business focused on golf.

Clubhouse has found a strong strategic partner in all4golf and together will look to become the pan-European market leader for golf equipment.

This represents the first exit for the £58 million Foresight Regional Investment LP (“the Fund”), which supports small businesses in the North West of England and North Wales and which, since launch in 2016, has invested in fifteen companies to date.

Manchester-based Clubhouse Golf is the leading online retailer of golf equipment. It stocks the majority of golf brands and offers a direct to customer proposition centred around a bigger choice for better value with an industry leading service.

Since the Fund made its original investment in February 2017, Clubhouse has more than doubled its revenue to almost £30 million, with strong growth in the UK and a successful expansion into the European market. During the last three years the business has launched a new website and delivered an effective marketing strategy through social media channels. The Company has increased staff numbers by 50% since Foresight’s investment, making a positive social impact in the local area.

This successful exit, terms of which are undisclosed, delivered six times return for the Fund’s investors. It represents the fourth successful realisation by Foresight’s Private Equity team in the last 12 months, cementing their position as one of the most active SME investors in the UK market.

Ben Reeves, CEO of Clubhouse Golf, said: “Foresight has supported Clubhouse on its journey to become the UK’s leading online retailer for golf enthusiasts. We’ve exceeded our own expectations and couldn’t be happier with the help and guidance we’ve received from Foresight. We are excited to be partnering with all4golf for the next part of our journey. Their industry knowledge and experience will be invaluable.”

Matthew Pomroy, Senior Investment Manager from Foresight’s Manchester office, added: “Clubhouse is a fantastic example of a local family business that has delivered outstanding growth. It has been a pleasure working with the management team and we wish them every success for the future with all4golf.”

David Weavers and his team at Clearwater in Manchester advised Clubhouse Golf on the deal with Matthew Pomroy leading for Foresight.

Advisers to the vendors:

Corporate Finance – Clearwater (David Weavers, Tom Cooke, Dom Moir)

Legal Advice – Squire Patton Boggs (Giles Chesher, Alexandra Keane)

Financial DD – EY (Helen Pratten, Paul Scott, Mohammad Khalid, Matt Klemperer)

Commercial DD – Kin & Carta (Tom Holt, Jonan Boto, Hugo Sunnocks)

Tax – GT (David Hawley, Paul Atherton)

ENDS

For more information contact:

Ben Thompson, Foresight Group: bthompson@foresightgroup.eu / +44 (0)20 3667 8155

Notes to Editors

About Foresight Group LLP (“Foresight”)

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.

Foresight has £4.7 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Relief (BR).

Foresight’s Private Equity team, comprising 28 investment professionals, pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.

Foresight was named ‘Fund Manager of the Year’ at the PLC Awards last year, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.  In 2017, Foresight was voted ‘Best VCT Investment Manager’ at the Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards.

Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester, Edinburgh, Cambridge and Guernsey and international offices in Sydney, Rome, Madrid and Seoul.

www.foresightgroup.eu

About Clubhouse Golf (“Clubhouse”):

Clubhouse Golf is an online retailer of golf equipment. As an authorised stockist of golf’s biggest brands within the UK and Europe, the Company sources product directly from suppliers securing the best possible value for its customers. The Company has over 30 years’ experience in golf retail having established itself as one of the UK’s most trusted companies online.

With a full team of PGA Golf Professional's and expert staff, its philosophy is to provide industry leading 5-star customer service coupled with the largest range of affordable golf products at the lowest possible prices. Its 30,000 square feet warehouse and distribution centre holds all stock ready to be shipped out to customers all over the UK and Europe.

www.clubhousegolf.co.uk