Global Edition

 

Members‘ buyout success for GDG Acornbridge

8.30am 7th June 2004 - Property

GDG Acornbridge, the London based golf consultancy, has successfully structured and managed the buyout of Bentley Golf Club in Essex for the members. Bentley is an 18-hole course measuring 6,709 yards. It is located north of Brentwood and was opened in 1972.
The latest buy out follows on the heels of successful buyouts at Harleyford, Brampton Park and The Bedfordshire Golf Clubs
The unique structure introduced by GDG Acornbridge allows members to pay a low amount up front. As a result the number of members deciding to participate in the structure is very high. Nevertheless members who do not want to participate still remain members of the club.
The structure produces high value for the owner. The members groups, using this structure, have been successful against commercial operators in bid battles.
Mike Sanders, chairman of GDG Acornbridge said, “We are delighted to be able to bring another members buyout to a successful conclusion. The instances of members successfully buying their club are few and far between. GDG Acornbridge brings a one-stop shop of services together. We raise the finance, undertake the due diligence and produce the business plans. We advise the members on how to realise their plans.
“Our team includes lawyers, valuers, accountants and greenkeeping consultants. We feel we have more experience in this field than any other team in the UK.
“We work together with the members representatives to bring the buy out to a swift and successful conclusion. Our structure has been tried and tested and has proved to be the most successful way for members to acquire their clubs.”
Charles Green, chairman of the members group who worked with GDG Acornbridge, said, “We are delighted to be able to buy our club. GDG Acornbridge gave us all the support we needed and were invaluable in helping us realise our plans. Over 300 members decided to invest. We are very excited about the future of Bentley Golf Club.”
For further information contact: Richard Swann: Tel. 020 7600 0055, email: pgf.group@btinternet.com

       

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