Gt Golf Holdings, Inc. (referred to as “GT Golf”), a prominent distributor in the golf industry, has announced its acquisition by Kinzie Capital Partners, a private equity firm based in Chicago. This acquisition signals a new chapter of growth for GT Golf, building on its already impressive trajectory.
GT Golf originally became part of Hadley’s group of high-performing small companies in 2016. Hadley Capital’s acquisition was crucial in facilitating a smooth management and ownership transition for GT Golf founder, Craig Pollard, aligning perfectly with his succession plan.
Under Hadley Capital’s Ownership System™, GT Golf experienced a seamless leadership transition, allowing Pollard to transition away from day-to-day operations and dedicate more time to his philanthropic pursuits. Following this transition, Hadley Capital and GT Golf’s new management team strategically invested in key areas to foster future expansion. These investments encompassed advanced IT infrastructure, new warehousing facilities, team expansion, and enhanced e-commerce capabilities. These strategic moves yielded remarkable results, with GT Golf achieving nearly 15% compound annual growth throughout Hadley’s ownership, effectively tripling both the company’s revenue and profits.
CIBC Cleary Gull acted as the exclusive financial advisor to GT Golf in this transaction. The financial details of the acquisition remain undisclosed.
Brian Van De Veere, President of GT Golf, expressed his appreciation for the partnership with Hadley Capital, stating, “We can’t thank the Hadley team enough for the last 6 years. It’s definitely bittersweet as GT Golf could not have asked for a better partner to guide us on this journey.”
Van De Veere also addressed initial concerns about private equity ownership, adding, “When Craig informed us that he was selling GT Golf to a private equity group, Google did not paint a rosy picture of what we might expect. However, it quickly became clear that partnering with Hadley was incredibly beneficial. We needed a group like Hadley to refine our operations and ultimately unlock our full potential. Any small company in a similar position should be excited about the prospect of partnering with Hadley.”
Paul Wormley, Managing Partner at Hadley Capital and Chairman of GT Golf, commented, “GT Golf is a prime example of how the Hadley Ownership System empowers small companies to overcome complex challenges. It was a privilege to assist Craig in achieving his transition objectives and to support GT Golf’s management team in driving significant growth during Hadley’s ownership.”
Craig Pollard, the founder of GT Golf, shared his positive experience with Hadley Capital, “Hadley delivered precisely what we discussed in 2015: providing my team with ownership opportunities, offering guidance and support to more than double the company’s size, and providing me with a second bite of the apple. The outcome exceeded my expectations.”
Pollard further reflected on the partnership, “The collaboration with Hadley was outstanding. There’s a sense of nostalgia as I look back at the company I started in my garage in 1993, which experienced growth year after year thanks to exceptional people. I am deeply grateful for the lasting friendships formed with employees, vendors, customers, and now, the Hadley team.”
The Hadley Ownership System: Facilitating Growth and Transition
The Hadley Ownership System is specifically designed to support small companies navigating critical phases of their lifecycle, particularly the transition from founder/owner leadership to a new era of leadership and ownership.
Following a successful transition, the Hadley Ownership System focuses on guiding small companies toward a growth model that generates enhanced opportunities for all stakeholders, including employees, customers, vendors, partners, and owners. More information about their partnership approach can be found here.
About GT Golf: Leading in Golf Product Distribution
GT Golf stands as the largest and fastest-growing distributor of consumable golf products. Their extensive product range includes grips, tees, and accessories, catering to golf courses, specialty retailers, and direct consumers. GT Golf is recognized as a valuable partner due to its industry-leading product breadth, rapid lead times, competitive pricing, and exceptional customer service. Headquartered in Vista, California, GT Golf also operates additional facilities in South Carolina and Texas.
About Hadley: Empowering Small Company Success
For over two decades, Hadley Capital has been instrumental in assisting small company owners with management succession, ownership transitions, and growth support. Hadley has acquired over 25 small companies, forming a select group of market leaders known for outperforming expectations. Further details about their process are available here, and the Hadley team can be contacted here.
