Motocaddy, the electric golf trolley brand, has been acquired by US private equity firm Corbel Capital Partners.
The company was previously owned by ETHOS Partners. During that time, Motocaddy says, it more than doubled both its revenue and EBITDA, driven by investment in product development, technology, sales infrastructure and distribution, particularly in the important US market. Founded in 2004, the brand has an established presence in major golf markets internationally.
Under its new owner, Motocaddy will build on its base in the UK, Ireland and Europe, while pursuing opportunities to accelerate growth in North America, Australia and other international markets.
The existing management team will stay in place. Chief executive John Helas and chief financial officer Richard Inglis will also join the new board.
Helas said: “We are extremely proud of what Motocaddy has achieved over recent years. The growth delivered during ETHOS Partners’ ownership is testament to the strength of our brand, our products and, importantly, our people.
“Corbel Capital Partners represents an exciting next step for the business. We have established a strong international platform, with significant opportunities still ahead of us. We look forward to working with Corbel to build on our success and take Motocaddy to even greater heights.
“Importantly, our existing management team remains firmly in place, providing the continuity and experience needed to deliver our ambitions while continuing to serve our customers and partners around the world.”
Christian Hostetter, principal at Corbel, said: “Motocaddy is the clear category leader, with a loyal customer base, a strong pipeline of new products and significant room to grow in North America. We are delighted to partner with John and the team and look forward to supporting the business through its next phase of growth.”
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