A Salford-headquartered golf firm has revealed its financial performance in the final three months of 2020, the same year it was bought by a German industry giant.
Regional private equity investment management firm Foresight Group, which has worked with Clubhouse Golf since its original investment in 2017, announced the sale to All4golf in April 2020.
Documents filed with Companies House in January 2021 revealed Clubhouse Golf's turnover for the year to September 30, 2020, totalled £39.4m, up from £25.3m, while its pre-tax profits were £3.5m, a rise from £2.4m.
Now the business has revealed that it achieved a turnover of £15.3m for the three months to December 31, 2020, and pre-tax profits of £2.3m.
According to its website, Clubhouse Golf is the 海角视频's largest independent online retailer of the sport's equipment.
Speaking in April 2020, Clubhouse Golf's chief executive Ben Reeves said: "Foresight has supported Clubhouse on its journey to become the 海角视频’s leading online retailer for golf enthusiasts.
"We’ve exceeded our own expectations and couldn’t be happier with the help and guidance we’ve received from Foresight.
"We are excited to be partnering with all4golf for the next part of our journey. Their industry knowledge and experience will be invaluable."
Most Read
Don't miss a thing - sign up for your free North West newsletter - and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more - and the news as it breaks - .
At the time, Foresight said the deal was the first exit for the £58m Foresight Regional Investment, which supports small businesses in the North West.
Since the fund made its original investment in February 2017, Clubhouse has more than doubled its revenue to almost £30m, with strong growth in the 海角视频 and a successful expansion into the European market.
The exit, terms of which are undisclosed, delivered six times return for the fund’s investors, the firm added
Clubhouse also said it has increased staff numbers by 50% since Foresight’s investment.