Private equity firm Sun European Capital has snapped up specialist retailer American Golf.
The private equity firm has acquired the chain from LDC for an undisclosed amount.
LDC has owned American Golf since 2004 when it backed a management buyout of the retailer. Since then store numbers have grown from 50 to 88 in the UK and Ireland.
In its last financial year, the retailer increased total sales by 20% to £86.6m, driven by the acceleration of its store rollout and refit programme and strong growth in its internet business.
Like for like sales in the current financial year ending January 2012 have continued to rise according to the retailer.
Sun European Partners also owns Irisa Group, formerly Alexon, and sofas retailer ScS in the UK,as well as online business Neckermann.de in Germany and Dutch retailer V&D.
Sun European Partners vice president Philippe Neuschaefer said: “American Golf is a niche retailer with an exciting product portfolio. The company is performing well and with our extensive experience in the retail sector, American Golf represents a significant opportunity for sustainable growth. We look forward to working with the management team and to continuing to develop the business.”
American Golf chief executive Nick Wood said: “This is an exciting time for everyone at the business as it embarks on its next phase of growth. Sun’s experience and sector knowledge will be extremely valuable in driving our expansion into 2012 and beyond.”