North Castle Partners has invested in Full Swing Golf. Financial terms weren’t announced. Topgolf® Entertainment Group also invested. Full Swing, of San Diego, provides indoor golf simulation technology. KPMG Corporate Finance advised Full Swing Golf. Morrison Cohen LLP acted as counsel for North Castle Partners and Full Swing Golf Holdings Inc.
SAN DIEGO, May 10, 2017 – North Castle Partners and Full Swing Golf today announced that North Castle, a leading private equity firm focused on consumer businesses that promote healthy, active and sustainable living, has made an investment in Full Swing, the market leader in golf simulation technology. The company’s patented dual-tracking technology delivers an unmatched playing experience and has been installed in thousands of homes and businesses globally and adopted by some of the top professional golfers in the world. Global sports entertainment leader Topgolf® Entertainment Group (TEG) made a strategic investment in Full Swing as part of the transaction. The terms of the transaction were not disclosed.
“The foundation of the North Castle approach is to partner with exceptional management teams and industry professionals to unlock the full potential of companies focused on healthy, active and sustainable living. We welcome Ryan Dotters and the Full Swing team to the North Castle family,” said Chip Baird, North Castle CEO and founder.
“During the past two years, we have established Full Swing as a premiere product in the sports simulation category,” added Full Swing CEO Ryan Dotters. “We could not be more excited to have North Castle and Topgolf come on board with their resources and expertise to help us accelerate growth and separate ourselves even further from the competition. On behalf of my team, we are very pleased to be partnering with North Castle to realize Full Swing’s full potential and further our mission to train and entertain enthusiasts worldwide.”
With the support of North Castle, Full Swing will execute on its strategy, which is focused on dramatically growing its presence in existing and new channels, and continually enhancing the simulation experience through product and software innovation.
“North Castle’s network and expertise in the areas of sales, branding, product innovation and operations will be an invaluable resource to Full Swing as the company accelerates growth through relentless focus on innovation and product experience,” commented North Castle Managing Director Alison Minter.
Full Swing products are used for game improvement for golfers of all skill levels, as well as a form of entertainment, with a unique package of non-traditional golf games. Tiger Woods, Jordan Spieth, Jason Day, Jim Furyk and Patrick Reed are among the many professional golfers who use and endorse the products. In addition, the Full Swing S4 simulator received the Editor’s Choice “Best Golf Simulator” by Golf Digest the first year the product was released to the market. Later this year, Full Swing plans to roll out its highly anticipated and revolutionary Virtual Green putting simulator.
Topgolf has also invested in Full Swing to support the growth of its one-of-a-kind Topgolf Swing Suite lounge experience, first introduced at the Four Seasons Hotel in downtown Houston.
“Full Swing is a leader in golf simulation technology, with products that set the industry standard for accuracy, reliability and playability,” said TEG Chief Digital Officer Ron Powers. “The game of golf can be enjoyed in many different forms, whether on a course, at a Topgolf venue, at home or on your phone. This investment signifies our commitment to the growing Topgolf Swing Suite business, and we look forward to expanding Topgolf’s footprint with other entertainment venues.”
Full Swing is also an exclusive partner to Tiger Woods in jointly developing golf simulation products.
KPMG Corporate Finance acted as the exclusive financial advisor to Full Swing Golf. Morrison Cohen LLP acted as counsel for North Castle Partners and Full Swing Golf Holdings, Inc.
About North Castle Partners
North Castle Partners is a leading private equity firm focused on investments in consumer-driven product and service businesses that promote Healthy, Active, and Sustainable Living. North Castle is a hands-on, value-added investor in high-growth, middle market companies in the (i) beauty & personal care, (ii) consumer health, (iii) fitness, recreation & sports, (iv) home & leisure and (v) nutrition sectors, among others. North Castle’s current portfolio includes such well-known brands as Curves International/Jenny Craig, Barry’s Bootcamp, HydroMassage, SLT, ProSupps, Palladio Beauty Group, Mineral Fusion, Red Door Spas, Sprout Organics, SmartyPants, Brooklyn Boulders, Ibex Outdoor Clothing, and Turnbridge. Prior portfolio company holdings include Atkins Nutritionals, Contigo, Cascade Helmets, Doctor’s Best, Octane Fitness, Bora-Bora Organic Foods, gloProfessional, Equinox Fitness, EAS, Enzymatic Therapy, CRC Health Group, Doctor’s Dermatologic Formula, Naked Juice Company, Flatout Flatbread, and Avalon Organics / Alba Botanicals. North Castle and its operating executives and advisors partner with management to bring a wide range of strategic and operational capabilities to build world-class companies by unlocking the exponential power of Full Potential Partnerships. North Castle is headquartered in Greenwich, CT. For more information, visit www.northcastlepartners.com.
About Full Swing Golf
Full Swing is the worldwide leader in cutting edge indoor golf simulation technology. Full Swing simulators are in the homes of top PGA Tour Pros including Tiger Woods, Jordan Spieth, Jason Day, Jim Furyk, Padraig Harrington, Patrick Reed and many more. Our patented dual tracking technology delivers superior ball tracking data and makes Full Swing the only simulator that actually measures ball flight indoors. With over 30 years of experience, Full Swing provides the most accurate and realistic golf experience you can find. From practice, to instruction, to entertainment; this is the world class experience you’ve been looking for. For further information, please visit www.fullswinggolf.com.
Topgolf inspires the connections that bring people together for unforgettable good times. Whether it’s a date night, girls’ night, family outing, happy hour, work breakfast, lunch hour or any other kind of hour, Topgolf makes socializing a sport – literally. Through the premium experience of Play, Food and Music, Topgolf is inspiring people of all ages and skill levels – even non-golfers – to come together for playful competition. Topgolf also brings interactive experiences to the community that facilitate shared moments and deep relationships through Topgolf U golf lessons, weekly leagues, The Topgolf Tour competition, KidZone parties, social and corporate team-building events, and the World Golf Tour (WGT) app. Each venue features high-tech, climate-controlled hitting bays for year-round comfort, delicious food and beverage, live events, music, hundreds of HDTVs and outstanding hospitality. With 32 venues entertaining 10.5 million Guests annually and the world’s largest digital golf audience, Topgolf is creating the best times of your life both in-venue and online. To learn more about Topgolf, follow @Topgolf or visit www.topgolf.com.