Goals Soccer scores £11m placing

Kasmira Jefford
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GOALS Soccer Centres raised £11.4m through a share placing yesterday as the group revives expansion plans that were put on ice last year after a failed takeover approach bid by a Canadian pension fund.

The five-a-side football pitch operator placed 5.2m new shares, equal to around 9.9 per cent of its existing share capital, to launch additional sites in the UK and US and to improve its capital structure.

The group, which currently runs 43 centres around the UK and one in Los Angeles, wants to build two more in this country by 2015, and a further three in the US by 2016.

The placing was announced after the group reported a two per cent rise in pre-tax profit last year to £9.6m, with sales up four per cent to £33.7m.

Like-for-like sales were up three per cent while net debt fell to £46.4m from £50.2m in 2012.


1 Canaccord managing director Bruce Garrow is lead broker for Goals Soccer Centres and led the pitch operator’s share placing.

2 Goals is not Garrow’s only footballing link after being appointed lead broker for Scottish football club Celtic last year. He also acts for retailer Supergroup and gaming firm Playtech.

3 Garrow joined Canaccord after the investment bank’s takeover of smaller rival Collins Stewart in 2012. A Newcastle University graduate, Garrow has also worked for Numis and Dawny Day.

Also advising...

Chris Connors and Joe Weaving from Canaccord, plus Jamie Ramsay and Mark Reed from Instinctif Partners.

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