June 11, 2015
Consumer, Retail, E-commerce and Leisure, Digital Media and Media
GCA Altium acted as exclusive financial adviser to Golfbreaks.com on the sale of Teeofftimes.co.uk to the UK division of GolfNow
GCA Altium acted as exclusive financial adviser to Golfbreaks.com, the specialist golf travel company, on the sale of Teeofftimes.co.uk to the UK division of GolfNow, a subsidiary of Comcast. The transaction highlights GCA Altium’s extensive expertise in the eCommerce and travel sectors.
Teeofftimes.co.uk is the largest online aggregator of golf course tee times across the UK and Ireland, listing over 1,400 golf courses and booking more than 410,000 rounds of golf in 2014.
USA-based GolfNow is an online tee time booking and golf course technology and services platform that connects golfers to over 9,000 courses across the USA and worldwide. GolfNow is part of the suite of digital businesses managed by Golf Channel, a multimedia and entertainment subsidiary of international media group Comcast.
Through this transaction the Companies have announced a strategic partnership which will enable Golfbreaks.com to expand its fast-growing USA operations while allowing GolfNow to enter the key UK market, becoming the global leader in digital tee time distribution.
Steve Hemsworth, Managing Director of Golfbreaks.com said, “We are delighted to have worked with GCA Altium on the sale of Teeofftimes.co.uk. They helped us to understand the strategic value of the Business and we found their approach to be professional and diligent. We are proud of the continued growth we have achieved to date at Golfbreaks.com and Teeofftimes.co.uk and we look forward to seeing the further expansion of the travel side of our Business into new markets.”
Christopher Jones, Managing Director at GCA Altium, commented: “It has been a pleasure to work with Golfbreaks.com on this transaction. In the same way that Toptable and Just Eat have revolutionised the way people dine, Teeofftimes.co.uk has embraced changes in consumer behaviour, connecting golfers and golf courses through the innovative use of digital technology.“
This is the latest in a series of cross-border eCommerce transactions advised on by GCA Altium, cementing its position as Europe’s leading corporate finance adviser in the sector.