All4golf, portfolio company of AFINUM Achte Beteiligungsgesellschaft mbH & Co. KG, advised by AFINUM Management GmbH, joins forces with Clubhouse Golf, based in Manchester („Clubhouse Golf“) under its parent company AF Eagle GmbH. The combined business is the clear pan-European market leader for online golf equipment retail, based out of the two largest European golf markets.
Clubhouse Golf is the leading online retailer of golf equipment in the UK. It stocks the majority of leading golf brands and offers a direct-to-customer proposition centred around a bigger choice for better value with an industry leading service. Founded by PGA golf professional Paul Reeves in 2003 who exited the business in 2017, the company is managed by his two sons Ben Reeves as CEO and Sam Reeves as CTO, who are supported by Jocelyn Morgan as CFO and experienced e-commerce expert Richard Styles as Chairman. Since 2017, Clubhouse has more than doubled its revenue to almost £30m, with strong growth in the UK and a successful expansion into the European continent. During the last three years, the business has launched a new website and delivered an effective marketing strategy through social media channels together with its previous investor Foresight Group.
All4golf was acquired by funds advised by Afinum in September 2019 with the goal to bring the successful German-speaking e-commerce platform to international markets on the European continent. As a combined business, all4golf and Clubhouse Golf is going to accelerate its international expansion as well as further drive organic growth in its respective home markets through continued investments into the online offering and marketing capabilities.
The new management team of the group, Stefan Kirste, founder and CEO of all4golf, as well as the Clubhouse management around Ben and Sam Reeves remains strongly committed to the success of the company and is looking forward to jointly implementing its vision of forming the go-to-place for online golf purchases across European markets.
As a result of the combination with Clubhouse Golf, the AF Eagle Group almost doubles its revenues just 5 months after Afinum’s initial investment. Across its two locations in Hannover and Manchester, the group has more than 150 employees.