Profile of the company
Teamsport is a fast growing business in a fragmented market in which it is leader as substantially the largest operator of go kart tracks in Europe.
It grew from 9 tracks in February 2013 to 23 tracks by October 2017, quadrupling run rate earnings from £1.5m to £6.1m. It has a highly professionalised approach and strong brand image and is well placed for continued growth with the roll out of new tracks.
Julian Carr backed CEO Dominic Gaynor in the original MBO in 2013 and served on the board for over 3 years where he developed a good understanding of the business which he used to approach Duke Street Private Equity to partner in funding a secondary management buyout, which completed in October 2017. Duke Street has extensive experience of multi-site leisure, international roll-out and direct investment experience in Germany and the business has ambitious expansion plans for the next 5 years.
|Investment type||Secondary MBO|
|Date of transaction||October 17|
Dominic Gaynor, CEO says:
“Jules was always a great supporter of our business in the original buyout. We are delighted that he has worked with Duke Street to support a secondary management buyout and it is great to welcome him back to the Board for the next stage of our journey.”
Julian Carr, Ethos Partners Principal says:
“Dominic and his team have consistently delivered for the last five years and I very much look forward to supporting them again for the next five to realise all that the business is capable of”
Charlie Troup, Duke Street Managing Partner says:
“TeamSport presents an exciting opportunity to support the clear leader in a growing niche segment of the UK leisure market. The strong management team has built a compelling proposition for all levels of racegoers and an excellent platform for further development. We are delighted to be backing Dominic and his team for the next phase of growth.”