REG - Oakley Capital Inv. - Investment in Vice Golf

Oakley Capital InvestmentsAnnouncement

06/05/2022 07:00

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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.£11 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.£139 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/
(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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