The Manchester office of Leeds-based Endless, the mid-market private equity investor, has completed the acquisition of Europe’s largest golf retailer, American Golf.

The deal includes 112 of the 132 American Golf retail stores across the UK and Ireland, the Americangolf.co.uk and Onlinegolf.co.uk websites and safeguards the jobs of over 900 employees in stores and at the American Golf head office in Warrington.

The investment is the latest from Endless’ £525 million Fund IV and follows previous retail investments such as Bathstore and The Works, which was listed on the London Stock Exchange in July 2018.

American Golf was established in 1970 and has a turnover of approximately £140 million.

The deal was led by Endless Manchester partner Tom Jack and investment director Richard Harrison, both of whom will join the American Golf Board.

Jack said: “American Golf holds a unique position as the UK’s golf market leader and has been providing specialist expertise to its loyal customer base for over 45 years.

“We believe this is a business with fantastic potential and we’re delighted to be able to protect the employment of over 900 employees as a result of this acquisition.”

Daniel Smith, Deloitte Partner, said: “I am delighted that the sale of the business which we have completed today has safeguarded over 900 jobs. We appreciate the support of management and all employees in achieving this aim and wish them well for the future.”

Endless was advised by law firm Addleshaw Goddard, led by partner Ged Barnes together with Sarah Foster, Calum Redhead, John Duffy, James Davison and Charlotte Read. Tax advice was provided by Steven Heath and Nilesh Patel at KPMG.

The Deloitte team included Daniel Smith, Daniel Butters, Andy Westbrook, Rick Harrison, Rhys Davies and Peter Mackie. Legal advice to the company and the joint administrators was provided by Colin Ashford and Richard Obank of DLA Piper.