Tiger Woods-Invested Golf Simulator Full Swing Acquired by Versant for $530 Million
On July 6, media giant Versant Media Group announced it will acquire leading golf simulator company Full Swing from private equity firm Bruin Capital for approximately$530 million. According to Yahoo Finance, Bruin Capital acquired a majority stake in Full Swing for $160 million in 2021.
This is Versant's largest transaction to date. Full Swing will be integrated into Versant's golf business segment: operating in synergy with Golf Channel, tee-time platform GolfNow, and membership service GolfPass. The deal also adds hardware and technology to Versant's portfolio, enabling the company to directly reach recreational and professional players.
Founded in 1986, Full Swing launched its first simulator in 1991, equipped with innovative infrared tracking technology, but initial sales were extremely difficult—only six units were sold that year. The company's turning point came in 2015 when industry veteran Ryan Dotters, who had served as a company advisor for years, led the acquisition of Full Swing and has served as CEO ever since. He will remain in his role after this transaction.
A key figure in Full Swing's development isTiger Woods. Woods had proposed the need for an outdoor golf simulator to Ryan Dotters as early as 2013, driving Full Swing's later expansion from indoor to outdoor. After Dotters became CEO in 2015, he invited Woods to serve as a brand ambassador. After testing the product, Woods greatly appreciated the system's accuracy and experience. He not only installed one at home but also became an investor in Full Swing. Today, Full Swing is also the technology partner for the TGL golf league co-founded by Woods and Rory McIlroy.
According to Front Office Sports, Woods held a 1% to 2% stake in Full Swing prior to the sale, and made at least one additional investment after his initial stake. However, his total investment over the years remains unclear.
Currently, Full Swing is the official technology partner of the PGA and has gained favor from Jon Rahm, Jordan Spieth, Jason Day, Gary Woodland, and many other renowned players. Golf enthusiast NBA star Stephen Curry is also a long-time user of Full Swing.
The seller, Bruin Capital, was founded in 2015 by George Pyne, former president and board member of sports marketing agency IMG Group, and earlier served as COO of NASCAR.
Unlike traditional sports investment approaches, Pyne believes that investing in teams involves liquidity uncertainty and an inability to generate cash flow. Therefore, Bruin Capital focuses on "secondary enablers" in the sports industry—companies that provide technology, data, content empowerment, commercial services, or virtual technology to the sports ecosystem. Its current portfolio includes Box to Box Films (creator of Netflix documentary series Drive to Survive), TGI Sport, AS1, and others. Since its inception, Bruin Capital has raised over $2 billion.
| Sources: Official press release; Sports Business Journal; Front Office Sports; Yahoo Finance
| Image credit: Official website