Golfamore Group invests in Out-of-Bounds
Out of Bounds annually recovers over three million golf balls from golf club ponds and is already a Nordic leader in its niche. Now, it is bringing in external stakeholders, Golfamore Group, to accelerate growth and geographical expansion.
Recovered golf balls are a win-win-win for the environment, the golf club, and golfers. When the balls are recycled, the emissions of heavy metals from golf balls in nature decrease, clubs get paid for the balls that are recycled, and golfers can make a sustainable and economical choice when purchasing golf products. Golf balls lying in golf club ponds are literally an hidden asset that the club can easily make money on without a major effort. Over 120 clubs in Sweden already have agreements with Out of Bounds, and the company also operates in Denmark, Germany, and the Netherlands.
Out of Bounds nearly doubled its turnover from 21 to 40 million SEK between 2019 and 2020 and showed a profit. Golfamore Group, which owns Golfhäftet and OnTee, is now taking a stake in Out of Bounds, having acquired 30% of the shares.
“We have collaborated with both Golfamore Group and Golfhäftet for many years and are impressed by the company that the founders have built up. We are proud of our own journey so far and see that together we can build a competitive business in Europe. Golfamore Group has its own experience in expanding to the larger golf markets in Europe. Now, we are ready to conquer the European market with Out of Bounds”, says Johannes Bergenwall, CEO and Co-founder of Out of Bounds.
“We have been following Out of Bounds' development closely for several years. The fact that both the golf club and the golfer benefit from their business model is something that fits perfectly into Golfamore Group's thinking of creating customer-specific win-win concepts for the golf club and the golfer. We look forward to working with the team at Out of Bounds and continuing to develop the company, its offering, and taking a leading position in Europe in the recycling of golf balls”, says Fredrik van Speijk, CEO & Co-founder of Golfamore Group.