The golf equipment manufacturing industry in Europe is vibrant and continually evolving, producing a wide range of products from clubs and balls to apparel and accessories. This sector is primarily made up of manufacturers, designers, and retailers dedicated to enhancing golfers’ performance and enjoyment. With the increasing popularity of golf, driven by both traditional players and a younger audience, sustainability and technological innovation are becoming key trends. Many companies are now focusing on eco-friendly materials and smart technologies, making strides to capture the attention of a more conscientious consumer base.


This list highlights a mix of investors active in the European golf equipment manufacturing space, including private equity firms, corporate investors, and venture capitalists. Headquartered primarily in the UK and Germany, these 11 firms established themselves between 1949 and 2012, indicating a blend of heritage and fresh perspectives in the market. Their deal counts for 2024 showcase varying investment strategies, from LDC’s 15 investments to adidas's focused acquisition approach. With diverse sizes ranging from small firms to corporate giants, they shape the industry's future through their strategic commitments.


Top 11 Golf Equipment Manufacturing Investors in Europe


1. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. The platform promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has facilitated significant funding for companies in the golf equipment sector, such as Manors Golf, which raised $750,560 in December 2023, and Bunker Mentality, which raised $398,561 in December 2021. These transactions highlight Crowdcube's active role in supporting the growth of businesses within the golf equipment manufacturing industry.


2. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited, commonly known as LDC, is a private equity firm based in London, England, founded in 1981. LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. As part of Lloyds Banking Group, LDC focuses on helping management teams achieve their growth ambitions through investment and advisory services, fostering long-term partnerships to drive business success. Notably, LDC acquired American Golf in August 2004, which is a significant player in the golf retail market, indicating their involvement in the golf equipment sector. Additionally, LDC has engaged in various other transactions across different industries, including acquisitions in outdoor retail and manufacturing, showcasing their broad investment strategy while maintaining a foothold in the golf industry through American Golf.


3. Frasers Group

  • Website: frasers.group
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1982
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: frasers-group

Frasers Group plc is a corporate investor based in London, England, founded in 1982. The company operates various brands in the sports and fashion sectors, including Sports Direct and Jack Wills, and offers a wide range of products such as clothing, footwear, and sporting goods. Notably, Frasers Group has made significant investments in the golf equipment sector, including the acquisition of Direct Golf UK Ltd. in October 2015, which specializes in golf equipment and retail. This acquisition highlights Frasers Group's commitment to expanding its footprint in the golf industry. Additionally, they have engaged in other acquisitions, such as Holdsport and Twinsport, which, while not directly related to golf, demonstrate their active investment strategy in the sports retail market. Overall, Frasers Group serves consumers looking for diverse retail options and fitness solutions, including golf-related products.


4. adidas

  • Website: adidas-group.com
  • Type: Corporate
  • Headquarters: Herzogenaurach, Bavaria, Germany
  • Founded year: 1949
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: adidas

Adidas is a prominent sportswear manufacturer and retailer based in Herzogenaurach, Bavaria, Germany, founded in 1949. The company specializes in a wide range of athletic footwear and apparel, catering to athletes, sports teams, and consumers. Adidas is known for its commitment to innovation and sustainability in its products. Notably, Adidas has made strategic acquisitions in the golf equipment sector, including the acquisition of TaylorMade Golf in 2005 and Adams Golf in 2012 for approximately $70 million. These acquisitions were aimed at enhancing Adidas' presence in the golf category, showcasing their investment in golf equipment manufacturing alongside their broader athletic focus.


5. Endless LLP

  • Website: endlessllp.com
  • Type: Private Equity
  • Headquarters: Leeds, England, United Kingdom (UK)
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: endless-llp

Endless LLP is a private equity firm based in Leeds, England, founded in 2005. The firm specializes in investment management and consulting services, focusing on providing tailored investment solutions to businesses in complex situations. Endless LLP has a diverse portfolio, with notable investments in various sectors, including Food & Beverage and Industrials. One of their key transactions includes the acquisition of American Golf in October 2018, where they invested approximately £10 million to acquire 112 retail stores and the company's websites, safeguarding over 900 jobs. This acquisition highlights their commitment to the golf equipment sector, as American Golf is a prominent retailer in this industry. Other transactions, such as their investments in Moda Furnishings and High Street TV, showcase their broader investment strategy, but the American Golf acquisition is particularly relevant to the golf equipment manufacturing context.


6. Sun European Partners, LLP


Sun European Partners, LLP is a private equity firm based in London, England, founded in 2004. The firm specializes in investment advisory services and operational expertise, partnering with management teams across various industries, including Services, Industrials & Distribution, and Food & Consumer. They focus on defensible businesses in growing markets to enhance performance and create value. Notably, Sun European Partners acquired American Golf on May 24, 2011, for approximately $129 million, marking a significant investment in the golf equipment sector. Additionally, their acquisition of the Sports & Leisure Group in July 2021, which is known for its synthetic turf brands, further indicates their engagement in the sports and leisure market, potentially overlapping with golf-related investments. These transactions highlight their capability and interest in the golf equipment manufacturing industry.


7. Development Bank of Wales


The Development Bank of Wales is a public entity established in 2001 that provides financial support to Welsh businesses through loans and equity investments. It aims to facilitate business growth and economic development in Wales by offering various financial products tailored to the needs of small and medium-sized enterprises. Notably, the bank has been involved in transactions such as providing a £50,000 micro loan to Just Play Golf in Penrhys to help buy and fit out a golf range, showcasing its commitment to supporting businesses in the golf sector. Additionally, the bank has engaged in various other investments across different industries, including debt financing for companies like Tatami Fightwear and SPORTTAPE, indicating a diverse investment portfolio while still being active in the golf equipment manufacturing context.


8. Oakley Capital


Oakley Capital is a private equity firm based in London, England, founded in 2002. The firm partners with entrepreneurs and management teams to build successful mid-market businesses across various sectors, including technology, consumer, education, and business services. Notably, Oakley Capital has made significant investments in the sporting goods sector, including a recent acquisition financing for Vice Sporting Goods GmbH, known as Vice Golf, which specializes in golf equipment. This investment highlights their commitment to the golf equipment manufacturing industry. Additionally, Oakley has a history of supporting companies through various funding mechanisms, such as debt financing and acquisitions, which demonstrates their strategic approach to fostering growth in their portfolio companies.


9. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, dedicated to fostering economic development in Scotland. It offers a variety of services, including funding, business development advice, and support for innovation and exports. In 2024, Scottish Enterprise was involved in 55 investments, showcasing its active role in supporting businesses. Notably, it has invested in Shot Scope, a golf shot-tracking and wearables company, participating in multiple funding rounds including a $3.2 million Series A and an $8.4 million Series B in 2024. These transactions highlight Scottish Enterprise's commitment to supporting innovation within the golf equipment manufacturing sector, particularly through technology that enhances the golfing experience.


10. Project A

  • Website: project-a.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2012
  • Headcount: 51-200
  • Number of deals in 2024: 13
  • LinkedIn: project-a-ventures

Project A is a venture capital firm based in Berlin, Germany, founded in 2012. They specialize in early-stage tech investments and provide operational support for startups. Their services include consulting in tech and growth, access to a network of investors, and pre-seed investment opportunities. In 2021, Project A invested in Perfect Drive Sports Group, a company involved in the golf equipment sector, showcasing their interest in this industry. Additionally, they have participated in various funding rounds for other startups, such as Horizn Studios and Contorion, indicating their active role in supporting innovative companies across different sectors.


11. New Wave Group

  • Website: nwg.se
  • Type: Corporate
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 1990
  • Headcount: 1001-5000
  • LinkedIn: new-wave-group

New Wave Group AB is a corporate investor based in Gothenburg, Sweden, specializing in the creation, acquisition, and development of brands and products across various sectors, including corporate, sports, gifts, and home. Founded in 1990, the company has grown to employ between 1001 and 5000 people. Notably, New Wave Group made a significant acquisition in 2007 when it purchased Cutter & Buck Inc. for $156.5 million, a company known for its upscale golf and sportswear. This acquisition aimed to enhance product offerings and distribution networks in the U.S. and Europe, highlighting New Wave Group's strategic interest in the golf apparel market. Additionally, their other acquisitions, while not directly related to golf, demonstrate their broader strategy of expanding into various segments, including outdoor and activewear, which often overlaps with golf apparel.



Golf Equipment Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
LdcLondon, England, United Kingdom (UK)51-200198115
Frasers GroupLondon, England, United Kingdom (UK)10001+198220
adidasHerzogenaurach, Bavaria, Germany10001+19491
Endless LLPLeeds, England, United Kingdom (UK)11-5020052
Sun European Partners, LLPLondon, England, United Kingdom (UK)51-20020040
Development Bank of WalesWrexham, Wales, United Kingdom (UK)201-500200126
Oakley CapitalLondon, England, United Kingdom (UK)51-20020026
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
Project ABerlin, Berlin, Germany51-200201213
New Wave GroupGothenburg, Västra Götaland, Sweden1001-500019900


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