Hanover Investors partners with Caddies Europe and GolfStar for the next phase of growth

London-based Hanover Investors has become the principal shareholder of Caddies Europe, the group behind GolfStar, Northern Europe’s largest multi-course golf operator.

Founder Tony Trigell remains Caddies’ CEO and a significant shareholder, reinvesting alongside Hanover, and the existing management team continues to lead the business.

The partnership provides more than 100 million Swedish Krona (£7.5m) to accelerate the group’s growth, primarily by bringing new golf facilities into the group, alongside continued investment in the experience for existing members.

The change in ownership does not affect day-to-day operations. Memberships, bookings and partner agreements continue as before, and the same teams continue to run the courses and services. Many of the management team have been with the business since 2012.

“This is a milestone for Caddies, and particularly for GolfStar. Hanover shares our view of what this business can become. Our mission is unchanged: we will continue to run and develop our businesses, now with the capital and experience to take the next step faster,” said Trigell.

Caddies has grown from a Swedish golf operator into a group covering course operations, course maintenance and digital services for golfers and the wider golf industry. GolfStar operates 30 courses across 25 facilities in Sweden, Finland and Spain, with more than 20 000 members.

Growth will be driven primarily by developing the existing facilities and the experience for members and customers, complemented by bringing new golf facilities into the group, with a focus on existing markets and additional European markets considered over time. Caddies will continue to work with club owners and operators looking for a long-term partner.

“Golf rewards patience and consistency, and so does good ownership. Caddies has a strong team, well-run facilities and a loyal member base. We intend to be a long-term partner, investing in the courses and the player experience, and backing Tony and the team as they grow the group through new clubs and partnerships, at home and abroad,” says Ashkan Senobari, Partner at Hanover.

“This is good news for our members and partners. With Hanover as a long-term owner, we are better positioned to keep investing in our facilities, our offering and our people, and to bring our model to more golf facilities,” says Stefan Brikell, CEO of GolfStar Europe.

Financial terms of the transaction have not been disclosed.