PE firms circle American Golf
A number of private equity investors are to place bids for the buyout of LDC-owned American Golf, a UK-based retailer of golfing equipment, according to media reports.
Bridgepoint Development Capital is understood to be among the potential buyers, alongside other GPs. The Rothschild-run sale could value American Golf at close to £80m.
LDC backed the BIMBO of American Golf in 2004, a deal that valued the business at £40m. RBS provided senior debt to finance the acquisition. In 2010, the company acquired the golfing goods online retailer Online Golf.
Established in the 1970s, American Golf operates a nationwide retail chain of specialist golf equipment stores, selling a comprehensive range of clubs, bags, balls, clothing and accessories supplied by major golf brands. Under LDC ownership, turnover has grown from £63.7m to £86.6m.
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