Leeds-based private equity firm Key Capital Partners has completed a successful exit from Darts Corner, the specialist darts retailer and brand owner, following its acquisition by private equity firm Ethos Partners.
Founded in 2005 and headquartered in Bolton, Darts Corner has evolved from a niche online retailer into a global e-commerce platform. The business now serves customers in over 100 countries.
Since Key’s investment in 2020, the firm has worked closely with CEO Craig Heenighan and the senior team to deliver a transformation strategy focused on brand development, international growth, and operational enhancement. This included investment in digital systems, infrastructure, and team capability to support scale and efficiency.
During Key’s investment period, revenues almost doubled from £11m to over £21m, reflecting strong performance across direct-to-consumer, marketplace, and trade channels.
The secondary buyout by Ethos Partners marks the next chapter in Darts Corner’s growth story, with continued focus on expanding international reach and developing its proprietary brands.
Matt Tice, director at Key Capital Partners, said: “It has been a pleasure to partner with Craig and the team over the last few years. Together, we’ve built a stronger, more scalable business with a growing global presence.
“Darts Corner is a fantastic example of how a focused strategy and great leadership can transform a specialist retailer into a world-class e-commerce brand. We wish the team every success as they continue their journey with Ethos.”
Craig Heenighan, managing director of Darts Corner, added: “Key’s partnership has been instrumental in helping us professionalise and position the business for international growth. Their insight and support gave us the platform to strengthen our brands and build an exceptional team, setting us up for the next phase of expansion.”
