Blog Elements - Turf Matters

Half Sized Blog Element (Single Author Style)

Half Sized Blog Element (Multi Author Style)

Toptracer and The Belfry announce historic long-term partnership

Toptracer and The Belfry announce long-term partnership

April 13, 2021/in News, Press Release/by Admin

Toptracer and The Belfry announce historic long-term partnership : Toptracer has today announced details of a multi-year business partnership with historic British golf venue, The Belfry Hotel & Resort, as the brands join forces to enhance the club’s technology offering and global appeal. The iconic Warwickshire-based club has played host to the Ryder Cup on […]

Ingersoll Rand to Sell Club Car to Platinum Equity

April 13, 2021/in News, Press Release/by Sarah Gwynn

Ingersoll Rand to Sell Club Car to Platinum Equity : Ingersoll Rand Inc. a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to sell its Specialty Vehicle Technologies Segment (“Club Car”) to the global private equity firm Platinum Equity. The all-cash transaction is valued at $1.68 billion, which is […]

Toptracer and The Belfry announce long-term partnership

April 13, 2021/in News, Press Release/by Admin

Ingersoll Rand to Sell Club Car to Platinum Equity

April 13, 2021/in News, Press Release/by Sarah Gwynn

Full Sized Blog Element (Big Preview Pic)

Toptracer and The Belfry announce long-term partnership

April 13, 2021/in News, Press Release/by Admin

Toptracer and The Belfry announce historic long-term partnership : Toptracer has today announced details of a multi-year business partnership with historic British golf venue, The Belfry Hotel & Resort, as the brands join forces to enhance the club’s technology offering and global appeal.

The iconic Warwickshire-based club has played host to the Ryder Cup on four occasions, as well as numerous European Tour events, and is set to stage the British Masters again later this year. The Belfry is also the home of The Professional Golfers’ Association (PGA) in the United Kingdom.

Toptracer and The Belfry announce historic long-term partnership

A key feature of the partnership is the installation of a unique blend of Toptracer Range products on-site at The Belfry. Utilising the full covered range and monitor system in 34 bays, as well as elements of the new Toptracer Range Mobile solution outdoors, The Belfry will become the premier practice destination in the country.

Toptracer will assist in delivering numerous global activations, designed to offer unique ways for golfers around the world to experience the venue through a modernised platform that enhances ‘The Belfry experience’. More than just the integration of technology, The Belfry and Toptracer will also collaborate on a series of innovative new event experiences and activations over the tenure of the partnership.

In addition to the range installation, The Belfry’s famous Brabazon course has also been mapped for use in the Toptracer Range ‘virtual golf’ mode, meaning it will be available to play at more than 400 Toptracer Range locations worldwide in the near future.

Toptracer Range technology transforms a golf range into a veritable sports entertainment destination. The industry-leading ball tracing provides golfers with accurate, live shot data that can be used for practice purposes or to compete in challenges and games with friends.

Cameras mounted around the facility trace every shot to produce an array of data, including distance, speed, launch angle, shape, and more, that is then displayed on a 21-inch monitor in each hitting bay for the covered solution, or the users’ mobile phone for Toptracer Range Mobile-enabled sites.

Toptracer and The Belfry announce historic long-term partnership

“We are delighted to be working with Toptracer and are looking forward to relaunching our upgraded Academy in April,” said Chris Reeve, Golf Director at The Belfry. “We’ve reviewed all technology options and identified Toptracer as the optimal game-changer for us. It will allow guests with any level of golfing experience, from beginners and non-golfers to frequent players, to enjoy a wide range of games and activities with family and friends,” he added.

“Everyone at The Belfry is very excited to begin what we hope will be a prosperous partnership with Toptracer.” Commented Chris Eigelaar, Resort General Manager at The Belfry. “Toptracer will be a fantastic addition to the already top-class facilities here, and will aid us in continuing to deliver a world class golfing experience. We truly believe there is nowhere better than here to learn and play golf.” He added.

Ben Sharpe, President of Toptracer, added: “This is a monumental partnership for us. The Belfry is an historic venue, and this is a landmark installation and agreement that is broader and more progressive than almost anything we’ve seen worldwide to date. We can’t wait for golfers to enjoy our full technology offering at what is undoubtedly a world leading facility.

“We are delighted to have the opportunity to work with The Belfry to deliver on some global projects they have planned and play a role in enhancing their offering to customers for the foreseeable future.”

For more information on the Toptracer, head to www.toptracer.com.

For the latest industry news visit turfmatters.co.uk/news

Get all of the big headlines, pictures, opinions and videos on stories that matter to you.

Follow us on Twitter and Instagram for fun, fresh and engaging content.

You can also find us on Facebook for more of your must-see news, features, videos and pictures from Turf Matters.

Ingersoll Rand to Sell Club Car to Platinum Equity

April 13, 2021/in News, Press Release/by Sarah Gwynn

Ingersoll Rand to Sell Club Car to Platinum Equity : Ingersoll Rand Inc. a global provider of mission-critical flow creation and industrial solutions, has entered into an agreement to sell its Specialty Vehicle Technologies Segment (“Club Car”) to the global private equity firm Platinum Equity. The all-cash transaction is valued at $1.68 billion, which is approximately 12.1x 2020 Specialty Vehicle Technologies Segment Adjusted EBITDA, and is expected to be completed by the third quarter of 2021, subject to customary closing conditions.

“Today’s announcement to divest Club Car demonstrates swift progression on our transformation journey,” said Vicente Reynal, chief executive officer of Ingersoll Rand. “The Club Car divestiture achieves a premium valuation for the leader in the golf, commercial and consumer low-speed vehicle market. We are excited about future opportunities to create long-term value for stockholders with the cash from the transaction, including significant organic and inorganic investment into our core business segments as we advance our growth strategies and expand our addressable market. We continue to leverage IRX to drive results and execute strategy, including portfolio optimization, and will continue to devote our energy to driving innovation across our businesses with a portfolio focused on core, sustainability-oriented, mission-critical flow creation technologies and industrial solutions supported by long term growth trends.”

Ingersoll Rand to Sell Club Car to Platinum Equity

Ingersoll Rand selected Platinum Equity because of their financial, operational and marketing expertise as well as their focus and interest in the automotive industry and mobility trends. Platinum is an ideal fit for Club Car and will serve as a strong partner in driving long-term, sustainable growth for the business.

“Club Car has a long history of leadership in golf, utility and consumer low-speed vehicles, and we look forward to nurturing their core business and supporting the diverse needs of the company’s customers,” said Tom Gores, chairman and chief executive officer of Platinum Equity. “We are excited to partner with the Club Car team and support the business as it executes on its strategy of operational excellence and ongoing, profitable commercial growth.”

Goldman Sachs is serving as exclusive financial advisor to Ingersoll Rand and Simpson Thacher & Bartlett LLP is serving as legal counsel. Credit Suisse and J.P. Morgan Securities LLC are serving as financial advisors to Platinum Equity on the acquisition of Club Car and Morgan Lewis is serving as Platinum Equity’s legal counsel. BofA Securities will lead the debt financing for Platinum Equity and Club Car. Willkie Farr is providing financing counsel to Platinum Equity on the transaction.

For the latest industry news visit turfmatters.co.uk/news

Get all of the big headlines, pictures, opinions and videos on stories that matter to you.

Follow us on Twitter and Instagram for fun, fresh and engaging content.

You can also find us on Facebook for more of your must-see news, features, videos and pictures from Turf Matters.

Half Sized Blog Element (Single Author Style)

Half Sized Blog Element (Multi Author Style)

Toptracer and The Belfry announce long-term partnership

Ingersoll Rand to Sell Club Car to Platinum Equity

Toptracer and The Belfry announce long-term partnership

Ingersoll Rand to Sell Club Car to Platinum Equity

Full Sized Blog Element (Big Preview Pic)

Toptracer and The Belfry announce long-term partnership

Toptracer and The Belfry announce historic long-term partnership : Toptracer has today announced details of a multi-year business partnership with historic British golf venue, The Belfry Hotel & Resort, as the brands join forces to enhance the club’s technology offering and global appeal.

Ingersoll Rand to Sell Club Car to Platinum Equity

RESOURCES

CONTACT

CONNECT