Quercus announces further transaction success in the software sector

June 30, 2019
Andrew Clegg

Quercus Corporate Finance is delighted to announce the sale of intelligentgolf Limited (intelligentgolf) to ClearCourse Partnership LLP (ClearCourse).

The Quercus team, acting for the Board of intelligentgolf, was led by Andrew Clegg.  ClearCourse has the financial backing of Aquiline Capital Partners, a New York and London-based private equity firm.

Intelligentgolf is the market leading provider of cloud-based software services to the UK golf industry. With over 500 customers worldwide, the platform is used to provide tournament management, handicapping, membership, tee time management website and electronic point of sale systems to golf clubs and organisations throughout the UK and beyond.

The deal represents the tenth company to join ClearCourse since its foundation in October 2018.

ClearCourse was founded to add value in UK businesses that provide software and payment processing services to a variety of membership organisations including non-profits, trade associations, trade unions, sporting bodies and charities. It acquires innovative businesses with strong management teams and complementary offerings, facilitating operational and commercial synergies and enabling cross-selling of relevant products and services.

Intelligentgolf is the first acquisition ClearCourse has made in the sports & leisure sector and is an important milestone, expanding its offering into a new market and enabling its existing companies to offer their solutions to new end users.

Financial details have not been disclosed.

Andrew Clegg, Quercus Partner, said:

“It has been a real pleasure working with Jamie and Denise and we are delighted to have found a good home for their business, with tremendous opportunities for further growth.  We wish everyone at Intelligentgolf and ClearCourse every success for the future.”

Jamie Abbott, CEO of Intelligentgolf added:

“We are very grateful to the Quercus team for their guidance and support on this important transaction for us.  Their experience and knowledge have been extremely helpful in our understanding of the process and they have delivered a great outcome for the business – we are really excited to be part of the ClearCourse partnership and to help continue its success.”

 

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