Motocaddy, the world’s top-selling brand of powered golf trolleys, has sold a majority stake in the company to a private investment group in a move designed to expand the business further on a global scale.
The Hertfordshire-based company formed 15 years ago retains its senior management team, while the Ethos Partners private investment group is strengthening the Board with the introduction of former KPMG Chartered Accountant Brian Phillips as the new Chairman.
Led by Chief Executive John Helas, who joined Motocaddy last year from the Black & Decker group, the executive team includes Neil Parker in the role of Sales Director and Paul Straker as Product Development Director. Marketing remains under the stewardship of Oliver Churcher and Steve Morris continues to manage sales across the UK & Ireland.
After more than a decade with Motocaddy and 30 years in the golf trolley industry, former Chairman David Wells is stepping down from the business in January along with former Managing Director Tony Webb, who both retain non-executive roles during this transition period.
“Ethos Partners have an impressive record of investing in profitable companies that are primed for bigger things and Motocaddy fits that profile perfectly with our emphasis on new technology,” said
“This new injection of investment enables us to consolidate our established business in
Sandy Farmer, Partner at Ethos, commented: “The team at Motocaddy have successfully built an internationally recognised consumer brand, which is underpinned by the quality of its product, innovation and people. We believe the business is well placed to continue to expand internationally across existing markets and elsewhere.”