Golfsupport.co.uk, the online golf retailer based in Mansfield, has been sold to PGC Group, the French business involved in the distribution of golf equipment for players and professionals and a European leader in driving range and course equipment.
Golfsupport.co.uk generates about half of its turnover in the UK and a third in continental Europe.
The acquisition allows PGC Group to penetrate the British market but also online distribution, thus integrating a new channel and new brands.
TLT advised Golfsupport.co.uk on its sale. KBS Corporate advised on the sale of its shares.
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.”
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.”
PGC Group aims to double its turnover in 2021 and cross the threshold of 30 million euros in revenue given these external growth operations and the strong resilience of the golf market in Europe.