Northampton, UK (10 March 2021) – Cadman Sporting, a dedicated sports shooting brand, which is backed by investment from private equity firm Cadman Capital Group, has announced its acquisition of Whittlesey Gun Shop.
The Cambridgeshire-based sports shooting shop, which was founded in 1983 was purchased for a 6-figure sum. Benefitting from a strong reputation in its local area, Whittlesey Gun Shop is the first business outside of the Midlands to come under Cadman Sporting’s ownership. The fourth acquisition completed by the business since 2019, the purchase follows the acquisition of two similarly reputable local gun shops, Northampton Gun and Rugby Gun, which were purchased in October 2019. In addition, Cadman Sporting also acquired Warwickshire-based sports shooting ground, Barby Sporting in November 2019.
Stephen Bayliss, Investment Director at the Cadman Capital Group, added: “Whittlesey Gun Shop is an excellent addition to our sports shooting and lifestyle portfolio, which we will continue to grow through the execution of our “buy and build” strategy. Alongside the other businesses under its ownership, this acquisition enables Cadman Sporting to create value through increased revenue and economies of scale, as well as providing the opportunity for us to deliver its offering to a wider market. We are excited to work with the existing management to continue to deliver outstanding service to our customers.”
Commenting on the acquisition, David Shipman, founder of Whittlesey Gun Shop, said: “Joining the Cadman Sporting family is an exciting opportunity for Whittlesey Gun Shop as we seek to increase our offering and further build on the shop’s 30+ years of success in the shooting market. The financial backing of the Cadman Capital Group, coupled with its team’s vast business management and operational experience, will be a tremendous asset to the shop and I’m very excited to see what’s to come.”
The purchase of Whittlesey Gun Shop, which was managed by Howes Percival, comes as the Cadman Capital Group seeks to deliver further growth by adding well-established, profitable businesses to the Cadman Sporting brand. This focuses on an acquisitions strategy dedicated to increasing market share within the sports shooting and country wear segment.