Private equity firm’s acquisition of American Golf safeguards more than 900 jobs
Private equity investor Endless has completed the acquisition of Europe’s largest golf retailer – American Golf.
The deal includes 112 of the 132 American Golf retail stores across the UK and Eire, the Americangolf.co.uk and Onlinegolf.co.uk websites, and safeguards the jobs of more than 900 employees in stores and at the head office in Warrington.
American Golf was established in 1970 and has a turnover of approximately £140m.
It provides a comprehensive range of golf clubs, equipment, shoes and clothing and employs more than 50 PGA professionals and 20 Master Fitters who provide custom fitting services and specialist in-store advice.
The deal was led by Endless Manchester partner Tom Jack and investment director Richard Harrison, both of whom will join the American Golf board.
Tom Jack said: “American Golf holds a unique position as the UK’s golf market leader and has been providing specialist expertise to its loyal customer base for over 45 years.
“We believe this is a business with fantastic potential and we’re delighted to be able to protect the employment of over 900 employees as a result of this acquisition.”
American Golf will honour valid gift cards and outstanding customer orders.
Jack added: “We look forward to welcoming American Golf’s loyal customers and working with global golf brands to provide an unparalleled destination golfing experience.”
The investment is the latest from Endless’ £525m Fund IV and follows previous retail investments such as Bathstore and The Works, which was listed on the London Stock Exchange in July 2018.
Daniel Smith, Deloitte partner, said: “I am delighted that the sale of the business, which we have completed today, has safeguarded over 900 jobs.
“We appreciate the support of management and all employees in achieving this aim and wish them well for the future.”
Endless was advised by law firm Addleshaw Goddard, led by partner Ged Barnes, together with Sarah Foster, Calum Redhead, John Duffy, James Davison and Charlotte Read.
Tax advice was provided by Steven Heath and Nilesh Patel at KPMG.
The Deloitte team included Daniel Smith, Daniel Butters, Andy Westbrook, Rick Harrison, Rhys Davies and Peter Mackie.
Legal advice to the company and the joint administrators was provided by Colin Ashford and Richard Obank of DLA Piper.
The American Golf stores facing closure are: Leatherhead; Deer Park, Livingston; Queens Park Golf Course, Crewe; Great Hadham; Kingswood Golf Course; Wrexham; Ageas Bowl, Southampton; Northwick; Romford; Queens Drive, Nottingham; Castle Street, Hull; Bearsden, East Dunbartonshire; Worcester; Finchley Road, London; Lincoln; Glasgow; Middlesbrough; Bristol; Belfast; and Grandemare, Guernsey.
