Carlow Golf Ball Firm Seed Golf in Talks with US Investment Bank to Raise $15m via Nasdaq ‘Micro Listing’

Seed Golf, an innovative Irish golf ball brand, is currently in discussions with an American investment bank to explore the opportunity of listing on the Nasdaq in order to raise $15 million (€12.83 million). The aim is to propel the company towards achieving success similar to what it has experienced in the Irish market, but on a much larger scale in the United States.

Founded by Australian entrepreneur Dean Klatt, Seed Golf is looking to capitalize on its established presence in Ireland, where it holds an estimated 10-12% share of the golf ball market. Entering the expansive US market presents a lucrative opportunity for the Carlow Tech-based startup, which is targeting a $50 million valuation with this venture.

Klatt noted the investment bank’s interest in Seed Golf’s “micro-IPO” after observing other successful ventures in the sector. “They saw what we have done here in Ireland, the UK, and in Europe and are looking to get on that train,” he remarked. “If we can do the same thing in the States, then that revenue grows very quickly over there.”

Currently in the process of negotiating terms with the bank, Seed Golf plans to launch the “micro-IPO” in alignment with The Masters golf tournament next April. “It is quite an involved process to do it,” Klatt said, emphasizing the numerous accounting and legal steps required.

Though Seed Golf considered listing with Euronext, the decision was ultimately made to focus on the US market, where the potential for financial growth is significantly greater.

Potential for a Small Factory on Ireland’s West Coast

This potential IPO has also sparked interest in establishing a small factory on the west coast of Ireland. Currently, Seed Golf manufactures its Irish-designed balls in Taiwan, but the idea is to create a local production hub. According to Klatt, such a facility would not only support their expansion into the US but also become an appealing destination for American golf tourists.

In their pursuit of growth and expansion, Seed Golf recently conducted a customer survey. It was found that the majority of their customer base boasts a handicap under 12 and practices at least once a week, demonstrating a dedicated and engaged golfing community.

The plans for this “micro-IPO” signal Seed Golf’s commitment to scaling up and seizing new opportunities on a global stage. By aligning its launch with a prestigious event like The Masters, the company is poised to capture significant attention and drive its presence in the US market. The notion of an Irish-based factory could further solidify its brand as a symbol of quality and innovation in golf balls.

As the company continues to grow, it remains to be seen how these strategic moves will impact its position both in Ireland and internationally. The next few months will be pivotal for Seed Golf as it navigates this exciting phase of development and expansion.