A report in “The Sunday Times” states that Henderson Private Capital, which owns Top Golf via the holding company Baydrive, has appointed Cavendish Corporate Finance to auction the business after receiving a number of unsolicited approaches.
Baydrive owns the licence for the Top Golf technology, developed by World Golf Systems (WGS), for Britain and Ireland.
There are currently three Top Golf sites in the UK, all in the London area and located near to the M25 motorway. The next location is understood to be in the Midlands and there are plans for further expansion in many other areas. Each site is said to cost around £4m to buy and develop. The Baydrive business has been valued at around £25 million.
Other sites licensed by World Golf Systems have recently opened in Thailand and the United States. WGS is continuing to look for licensees throughout the world.
World Golf Systems www.topgolf.com