Northbridge Equity Partners has recently formed Summit Golf Brands as a golf-focused apparel group. Summit, which owns Fairway & Greene Ltd., is also announcing the recent acquisition of EP Pro. This initial brand portfolio represents two of the golf industry's leading apparel companies and management teams.
“Assembling the #1 ranked men's and the #1 ranked ladies' golf brands clearly establishes Summit as the leader in the golf apparel industry” stated Gill Broome, the President of Northbridge.
In its last three annual surveys, the Association of Golf Merchandisers voted Fairway & Greene as the #1 men's apparel company and EP Pro as the #1 ladies' apparel company in the industry. This type of honor from the industry's most important buying group is a testament to the consistent efforts and contributions that both companies have made over time to the green grass golf channel. Recent sales growth at both companies underscores how these two brands are meeting the needs and expectations of the golf industry and consumers alike.
By joining Summit, both Fairway & Greene and EP Pro have acquired the ability and financial strength to expand their businesses and develop new offerings and programs which will continue to respond to the changing demands of the market and the specific needs of their customers.
“We are very excited to welcome Larry Mathe, CEO, and his entire EP Pro team to Summit Brands. EP has long been admired and recognized for its leadership in ladies golf apparel. With F&G's and EP PRO's singular focus on the green grass market, we are both positioned to be an even more significant partner with our golf professionals and buyers. Outstanding product quality, tremendous sell through and unmatched sales and customer service have always been hallmarks of both of these brands. The future is indeed very bright with both under Summit Brands' leadership and vision”, said Todd Martin, Executive Vice-President of Fairway & Greene.
“This combination allows us to maintain our individuality while gaining the strength that comes with a company comprised of the best brands in the industry, it's a win-win situation for EP Pro. Working with Todd Martin and the rest of the team at Fairway & Greene as well as the management of Summit has already proven to be extremely productive and a natural fit”, according to Mathe.
“Summit Golf Brands is designed to help people celebrate the great game of golf. We want our brands to play an important role in the lives of all golfers and enhance and enrich the quality of their lifestyles both on and off the course. The power and range of our brands will not only allow us to serve the industry in a unique and innovative way but it will also allow us to continue to attract some of the most talented people in the industry”, stated Broome. “We have two of the best management teams in the business and their combined experience and dedication represent the foundation of our group”.
Broome also emphasized that, “We are very proud to be an important vendor and partner with the country's PGA golf professionals who represent the stewards, ambassadors and innovators of the golf industry. By building brands and programs that are specifically designed for golf professionals, we can play a key supporting role in their efforts to continually elevate the sport and serve their customer base.”
“Our commitment is that our employees at all levels, senior management team and shareholders alike who are all golf enthusiasts will continue to build the portfolio companies with respect for the game and the high standards and etiquette that the great game of golf has represented for more than 200 years. As a group and individually, we have consistently given back to the game with product support, event sponsorships and professional development. This will always be a core discipline that we feel is a small token of thanks to the game we all enjoy.”
Northbridge Equity Partners is a private equity firm which specializes in buyouts of brand-based consumer products businesses.