| 8.5°C Dublin

McGinley putts his faith in Irish golf rental firm

Close

Paul McGinley, founding investor in the Dublin-based company ClubstoHire.com, has recently boosted his stake in the golf rental business. Picture credit: Matt Browne / SPORTSFILE

Paul McGinley, founding investor in the Dublin-based company ClubstoHire.com, has recently boosted his stake in the golf rental business. Picture credit: Matt Browne / SPORTSFILE

SPORTSFILE

Paul McGinley, founding investor in the Dublin-based company ClubstoHire.com, has recently boosted his stake in the golf rental business. Picture credit: Matt Browne / SPORTSFILE

PAUL McGinley, captain of Europe's Ryder Cup team, has boosted his stake in golf rental business ClubstoHire.com.

ClubstoHire.com helps golfers save money when they play abroad by renting clubs overseas.

The group is on target to rent out 60,000 sets of clubs this year bringing in revenues of €3m. Its maiden outlet opened in Portugal's Faro airport and it now operates from 21 sites including locations in Spain, Cyprus and Ireland.

Mr McGinley was a founding investor in the Dublin-based company and has increased his personal investment in the group for the first time since the business was set up in 2010. The firm declined to disclose the value of his stake.

Other companies in the golf market, however, are struggling, affected by the sports declining popularity in the US. Adidas disclosed in July that it was restructuring its TaylorMade club-making division, after sales tumbled 18pc in the second quarter.

Irish Independent