Foresight invests in Clubhouse Golf
Clubhouse Golf, the golf equipment, clothing and accessories retailer, has seen private equity company Foresight Group invest £4 million in the business from the Foresight Regional Investment Fund.
The funds will be used to strengthen Clubhouse Golf’s brand relationships and explore international expansion by developing the company’s online platform following the launch of its new website.
Clubhouse Golf was originally established as an on-course professional shop by founder Paul Reeves, with a high street store in Salford and an ecommerce platform. The retailer recently relocated its base to a 17,000 square foot facility in Irlam, in Greater Manchester as it looks to expand further. The business is led by Ben Reeves, the son of Paul Reeves.
Ben Reeves said: “It is great to see Foresight’s commitment to boosting smaller businesses in the Manchester area, as the city establishes itself as a national infrastructure and commerce centre. Clubhouse Golf has really taken off as a business since launch to become a leading golf equipment retailer, and this investment will enable us to achieve the possibilities that the current rate of growth presents.”
Richard Styles, founder of online retailer Kitbag, has been appointed as non-executive chairman to support the online growth of the business.
Matthew Pomroy, investment manager at Foresight Group in Manchester, said: “Clubhouse Golf is a good example of the kind of growing SME we seek to invest in. It has an exciting young management team who have grown the business over 30% in the last couple of years and built a great brand in the sport.
“The deal presents an exciting opportunity for business expansion through its new website both in the UK and internationally. We’re looking forward to working alongside Ben and the team to support the future growth.”
The Foresight Regional Investment Fund targets companies in the North West of England, North Wales and South Yorkshire from Foresight’s new Manchester office, and has now invested in five companies, deploying one third of funds within its first 12 months.
