Holdsport, with turnover of around 1.1 billion rand and strong cash flows, is a nationwide retailer of specialist sports and outdoor apparel and equipment.
It has a network of 33 Sportmans Warehouse and 18 Outdoor Warehouse stores in prime locations around SA. It provides local and international brands to a broad customer base from sporting beginners to veterans.
It also has an investment in First Ascent, an independently managed business which supplies technical apparel to the sporting goods industry.
Holdsport's history dates back to 1986 when the first Sportmans Warehouse was opened in Rondebsoch, Western Cape. It has since grown to 51 stores in South Africa and one Sportmans Warehouse in Windhoek, Namibia.
Commenting on the planned listing, Chairman Syd Muller said the move from a private enterprise to a JSE listing was an exciting milestone.
“Holdsport is a differentiated business in a market that is set to see a significant level of growth in the short to medium term as demonstrated by the increase in consumer confidence and South Africans' love of sport, exercise and outdoor lifestyle. Holdsport has a number of exciting initiatives to drive its future growth and take advantage of the opportunities in this market,” Muller said.
CEO Kevin Hodgson added that Holdsport is the only national, authentic retailer of sporting and outdoor goods in South Africa.
“Our dynamic retail environment is dedicated to the active sporting and outdoor enthusiast and provides customers with quality branded merchandise at competitive prices. This listing will provide access to capital for continued growth and enhance our position in the sporting and outdoor goods market.”
The proposed listing would see the majority of the private placement coming from Ethos Private Equity Fund V, selling shares it acquired in a buyout during September 2006.
Ngalaah Chuphi, Partner at Ethos Private Equity said: “We invested in Holdsport five years ago in keeping with our strategy of partnering strong management teams to unlock and create value. Ethos is proud to have supported the company's growth since our investment in 2006. The proposed listing will provide institutional shareholders with the opportunity to invest in this unique, impressive company.” - I-Net Bridge
