• 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 helping the Vice Golf team to build a globally leading multi-product brand in the golf world.”

BOGOTÁ, May 3, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, and GHL Hotels (“GHL”), one of the largest third-party hotel operator in the region, part of GHL Group, today announced that they have agreed to enter into a partnership, whereby Advent will invest in GHL and support its expansion across Latin America.

The partnership will strengthen GHL’s financial position to accelerate growth through new operating contracts, additional investments in hotels and acquisitions of other third-party hotel operators.

Jorge Londoño, Co-Founder and CEO of GHL, said, “This investment from a world-class investor like Advent is a sign of confidence in our potential and an endorsement of our business model, track record and achievements. We have big expansion plans to consolidate our position as the largest Latin American player in the sector, and by partnering with Advent we are confident that we will achieve this goal.”

“We are excited to partner with GHL, a company that has achieved excellent growth and strong performance in a sector that shows great prospects in Colombia and the region,” said Mauricio Salgar, Managing Director of Advent International in Bogotá. “We look forward to working with GHL’s management team and supporting the company’s growth and consolidation in the region. As a seasoned investor in the hospitality sector, Advent will provide knowledge and expertise in an industry that is increasingly dominated by global players.”

GHL is the largest third-party hotel operator in the Andean region and Central America. It began operations in 1964 with five hotels in the south of Colombia. Fifty-six years later, GHL is one of the main authorized multi-brand operators in the region, operating 62 hotels in Colombia, Ecuador, Perú, Central America, Chile, and Argentina, with a portfolio of more than 7,000 rooms and 5,000 employees. The portfolio includes hotels operating under international brands such as Hyatt, Marriott, Radisson and Sonesta.

“In more developed markets, such as the United States, we’ve seen hotel operations shift to specialized third-party hotel operators rather than hotel chains or property owners,” added Salgar of Advent. “This trend is now expanding into other markets, including in Latin America, where GHL is a leading player and aspires to continue solidifying its position in the market.”

This investment follows Advent’s acquisition of a majority stake in Aimbridge Hospitality, the world’s leading third-party hotel management company, with approximately 1,500 properties in 20 countries and in 49 states of USA. Aimbridge operates a diverse portfolio of brands that includes 84 different lodging brands, in addition to the more than 82 independent boutique/lifestyle hotels they operate. During Advent’s investment, the company has significantly grown its hotel portfolio and in 2021 acquired Prisma Hotels, the largest hotel operator in Mexico with 42 hotels and more than 7,500 rooms across the country.