Oakley invests in Vice Sporting Goods

Oakley Capital is investing in Vice Sporting Good (Vice Golf), a Munich-based golf ball producer, in a primary transaction.

Mergermarket first reported yesterday that the founder-led golf brand was to be acquired by the sponsor following a sale process run by Raymond James.

Oakley invested in the business through Oakley Capital Origin Fund, which held a final close in January 2021 on EUR 455m. The fund focuses on investing in lower mid-market companies with enterprise values of up to EUR 100m, according to Unquote Data. 

According to the Mergermarket report, the business has forecasted EUR 14m of EBIT on EUR 76m of sales. According to a press release, Vice Golf had a 40% top-line CAGR between 2018 and 2021 at 20% EBITDA margin.

Oakley Capital has made a string of investments in digital direct-to-consumer companies including Germany-based Gymondo, an online fitness program which is a part of 7NXT, in October 2020; and Düsseldorf-based Wishcard Technology Group, a gift card company, in 2019.

Company
Vice Sporting Goods was founded in 2012 by Ingo Düllmann and Rainer Stöckl. It is a premium online golf ball brand that expanded into other European countries and the US in 2015. Vice Golf balls cost half as much as other premium balls, according to its website.

People
Vice Sporting Goods - Ingo Düllmann, Rainer Stöckl (founders).

Advisers
Equity - Liberum Capital Limited (corporate finance).

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