TIDMOCI
RNS Number : 5379K
Oakley Capital Investments Limited
06 May 2022
6 May 2022
Oakley Capital Investments Limited
Oakley Capital Investments Limited(1) ("OCI") is pleased to
announce that Oakley Capital Origin Fund(2) ("Origin Fund") is
investing in Vice Sporting Goods GmbH ("Vice Golf"), the leading
digitally native golf brand.
OCI's indirect contribution via the Origin Fund will be c.GBP11
million.
Note that the above figure only relates to OCI's share of
Oakley's overall investment in Vice Golf.
OCI's liquid resources available for future deployment
(including this transaction) are estimated to be c.GBP139
million.
Further details on the transaction can be found in the below
announcement from Oakley Capital(3.)
Oakley partners with the founders of digitally native golf brand
Vice Golf
-- Premium golf balls sold direct-to-consumer offers competitive pricing advantage
-- Innovative design and focus on social media provide marketing edge
-- Large, stable golf market benefitting from a shift to healthy living and flexible working
Oakley Capital, the pan-European private equity investor, is
pleased to announce that Oakley Capital Origin Fund is investing in
Vice Sporting Goods GmbH ("Vice Golf"), the leading digitally
native golf brand.
Golf is a centuries-old sport that has proven its enduring
appeal and stability through economic cycles and is today played by
c.70 million across the globe. It has seen a significant boost
during the COVID pandemic with the number of golf rounds played in
the US increasing 20% between 2019 and 2021, driven by existing
players playing more rounds and new players embracing the sport, as
well as a shift to healthy living and flexible working.
Founded in 2012 in Munich by entrepreneurs Ingo Düllmann and
Rainer Stöckl, Vice Golf has a strong track record of profitable
growth with >40% top-line CAGR between FY18 and FY21 at 20%
EBITDA margin. The Company has successfully disrupted the golf ball
market by offering premium golf balls at significantly lower price
points than comparable products through its direct-to-consumer
(DTC) business model and social media marketing.
Vice Golf has developed an enthusiastic following and
established itself as the largest digital-first player in the
global golf ball market thanks to its product proposition and novel
designs. The Company principally sells golf balls as well as
accessories such as caps and gloves to golfers of all ages and
skill levels across the US and Europe. Following customer demand
Vice Golf recently entered the apparel segment via highly
successfully collaborations with top brands such as Adidas and
Beastin.
Oakley's partnership with Vice Golf builds on the firm's deep
expertise supporting DTC businesses such as Gymondo (part of 7NXT),
Germany's leading online fitness and nutrition platform, and
Wishcard, one of Europe's leading digital gift card companies. The
investment in Vice Golf is another example of Oakley's ability to
leverage its wider network and reputation to form long-lasting
partnerships with successful entrepreneurs. Oakley's investment
will help the business to accelerate its growth, product
diversification strategy and internationalisation.
Oakley Capital Founder and Managing Partner, Peter Dubens,
commented:
"Vice Golf has seen impressive growth thanks to its innovative
approach of offering passionate golfers leading product quality at
a highly competitive price. We look forward to working with Ingo
and Rainer and help the Vice Golf team to build a globally leading
multi-product brand in the golf world."
Vice Co-Founders, Ingo Düllmann and Rainer Stöckl,
commented:
"We were attracted to Oakley's successful record of partnering
with disruptive brands and founders. And as business founders,
Oakley's entrepreneurial heritage particularly appealed to us. With
their support, we are confident that we can further accelerate our
ambitious growth strategy for Vice Golf."
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget
Greenbrook Communications Limited
+44 20 7952 2000
Alex Jones / Michael Russell
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Darren Vickers / Owen Matthews
Notes:
LEI Number: 213800KW6MZUK12CQ815
(1) About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment
vehicle that aims to provide shareholders with consistent long-term
capital growth in excess of the FTSE All-Share Index by providing
liquid access to private equity returns through investment in the
Oakley Funds.
A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and
do not form part of, this announcement.
(2) The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II, Oakley Capital Private Equity
III, Oakley Capital IV, Oakley Capital V and Oakley Capital Origin
Fund are unlisted lower-mid to mid-market private equity funds that
aim to provide investors with significant long-term capital
appreciation. The investment strategy of the Funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement.
(3) Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the
repeated ability to source attractive growth assets at attractive
prices. To do this it relies on its sector and regional expertise,
its ability to tackle transaction complexity and its deal
generating entrepreneur network.
Important information
Specialist Fund Segment securities are not admitted to the
Official List of the Financial Conduct Authority. Therefore, the
Company has not been required to satisfy the eligibility criteria
for admission to listing on the Official List and is not required
to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional,
professional, professionally advised and knowledgeable investors
who understand, or who have been advised of, the potential risk
from investing in companies admitted to the Specialist Fund
Segment.
This announcement may include "forward-looking statements".
These forward-looking statements are statements regarding the
Company's objectives, intentions, beliefs or current expectations
with respect to, amongst other things, the Company's financial
position, business strategy, results of operations, liquidity,
prospects and growth. Forward-looking statements are subject to
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Accordingly
the Company's actual future financial results, operational
performance and achievements may differ materially from those
expressed in, or implied by, the statements. Given these
uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward-looking statements, which speak only
as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the Company's expectations with regard to
them or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by the
Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or
other applicable laws, regulations or rules.
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END
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