Overview
Project Velocity is an established golf brand and market leader in the accessory sector of the golf industry.
The business has a robust network of sales and distribution, supplying over 4,500 golf courses across 35 countries.
The company has developed strong commercial partnerships within the industry and supplies to large industry buying groups.
The business has developed an exceptional stock holding and is widely recognized for its excellent customer service and high-quality range of products.
Our clients are now offering the business for sale to facilitate growth under the impetus of new ownership.
Offers invited.
Key Highlights
- Serves an extensive range of prestigious customers, which includes golfing companies and distributors, branded promotional merchandise resellers, corporate businesses, golf societies and operators, and online retailers.
- Benefits from circa 950 active customers, 85% of which provide ongoing streams of reliable revenue.
- Has won a multitude of awards and has long-standing relationships with established suppliers and distributors.
- Utilises an array of highly experienced sales agents across the UK and well established distributors/importers overseas.
- Experienced and well-structured management team in place that can continue to grow the company effectively, without involvement from the Directors.
- Operates from leasehold premises.
Financial Highlights
- YE23 turnover of circa £2.7m, with an adjusted EBITDA of £434k.
- Gross profit margin of 45%.
- Significant growth of 38% in the last 3 years comparing with sales revenue in 2021.
- Has developed a strong relationship with a golf clothing manufacturer which provides approximately £52k per annum.
- Recurring revenue of up to £725k derived from the company’s top 10 customers.
- Recently secured a new customer, which has generated £33k in sales to date.
- Asset register with a value in excess of £300k included in the sale.
