TeamSport, led by managing director Dominic Gaynor, operates 23 tracks across the UK, including five in London, and expects to accelerate its rate of growth with Duke Street's backing.
Dominic Gaynor commented that "Duke Street stood out from the pack with their understanding of our business and their determination to deliver – in my view this makes them an ideal partner for the next stage of TeamSport's journey."
TeamSport leads the UK go-karting sector which is highly fragmented with more than 200 mainly independent, single-site operators. TeamSport has achieved impressive growth in recent years through a combination of like-for-like sales improvement, new site openings and enhanced performance from acquired tracks.
TeamSport's business combines enthusiasm with professionalism, providing exciting karting experiences at high quality facilities with excellent customer service. It's success is indicative of a wider shift in consumer preferences towards experiences in place of tangible objects.
"Duke Street engaged BDO to supply buy-side advice during the acquisition of TeamSport. BDO provided great insight into the Leisure sector which proved invaluable during the process. BDO provided us with fantastic support on this deal and really helped us drive it home before competing bids. The M&A, diligence and tax teams all made a significant contribution."
Jason Lawford, Partner, Duke Street