A new British golf equipment company, Equiam Ltd., has secured the rights to the Lynx, Hippo, Howson, Progen and Fazer golf brands following the financial problems of Outlook Sports, the brands’ previous owner, which went into administration – a form of insolvency or Chapter 11 bankruptcy - in September. Equiam is effectively owned by the same management team that ran Outlook Sports but is now backed by additional equity partners who have agreed to invest several millions of dollars into the business over the next three years.
Outlook became a target for Equiam and its investors after Outlook recently purchased the Fazer and Progen brands from USP Brands, which itself went into voluntary administration in August this year. These additional brands are said to have made Outlook Sports’ portfolio very attractive to the new equity investors. They believe that the current line-up gives the group a strong international presence with brands that have different degrees of penetration in different markets across Europe.
The managing director of the new company is Andrew Walkington, who held a similar post at Outloook Sports. On a day-to-day level the internal structure will continue without any changes, with Outlook’s former sales force continuing to operate as before under the new Equiam name. In fact little has changed apart from the name, and retail customers should experience no discernable changes in their dealings with the new company from when they dealt with Outlook Sports.
No financial details could be obtained about the size of the new business or the terms of the acquisition. The way in which the different brands will operate in different European territories is still under consideration. Potential licensing agreements in certain countries are among the options being discussed.