Reed Smith and Addleshaws tee up American Golf sale to Peter Jones

Reed Smith and Addleshaw Goddard have swung into action on the sale of American Golf to Dragon’s Den star Peter Jones.

Jones has acquired the UK’s largest golf retailer from Leeds-based private equity firm Endless LLP, which bought the business out of a pre-pack administration in 2018 for around £10 million. American Golf currently generates annual revenue of £135 million and has 88 stores in the UK and Ireland.

The retailer was previously owned by investment firm Sun European Partners, which had earlier bought the business from LDC, Lloyds Banking Group’s private equity arm.

Jones is one of the UK’s best-known entrepreneurs and has appeared on Dragon’s Den since it first aired in 2005. He has built a portfolio spanning retail, media and technology businesses.

Advising

Reed Smith acted for Jones and his investment group, with a London-based team led by corporate partner Daryl Cue, alongside counsel James Hatchard and associate Alex Pierce.

Addleshaw Goddard advised Endless on the exit. The deal team was led by Leeds private equity partner Dave Parker, supported by Manchester corporate partner Duncan Wilson, managing associate Charlotte Bontoft and associates Ben Atkinson and Katie Baxter.