TranslinkCF advised Key Capital Partners on the sale of Darts Corner to Ethos Partners

Translink Corporate Finance acted as the advisor to Key Capital Partners on the sale of Darts Corner to Ethos Partners

Translink Corporate Finance™ in the United Kingdom acted as the advisor to Key Capital Partners (Key) on the sale of Darts Corner, the UK’s leading specialist darts retailer and brand owner, to private equity firm, Ethos Partners, completing Key’s successful exit from the business.

Darts Corner strengthens operations and accelerates global growth

Founded in 2005 and headquartered in Bolton, Darts Corner has grown from a niche online retailer into a global e-commerce platform, with both proprietary and third-party brands. The company now serves customers in over 100 countries and is recognised for its fast-growing challenger brands and e-commerce expertise as well as its support of professional and aspiring players active in major competitions.

Since partnering with Key in 2020, Darts Corner has focused on strengthening its brand portfolio, expanding internationally, and improving operational capabilities through investment in both systems and the team. During this period revenues grew from £11m to over £21m in 2025, with growth across direct-to-consumer, marketplace, and trade channels. The secondary buyout by Ethos, who have a demonstrable track record of success investing in direct-to-consumer focussed companies, supports Darts Corner’s continued international expansion and own brand development.

Comments from Darts Corner

Craig Heenighan, Chief Executive Officer of Darts Corner, said, “We’ve made fantastic progress over the past few years with Key’s support, and we’re now well positioned for the next phase of growth. Ethos Partners brings a collaborative and entrepreneurial approach that aligns with our ambitions, and we look forward to working together to further scale the business.”

Comments from Key Capital Partners

Matt Tice, Director at Key Capital Partners, added, “It’s been a pleasure working with Craig (Heenighan) and the team who have worked tirelessly to get the business to where it is today. We’ve seen the business evolve and strengthen across multiple geographies during our investment period, and we wish Darts Corner every success in its next chapter with Ethos.”

Comments from Ethos Partners

Ben Kirby, Partner at Ethos Partners, added, “Darts Corner is a well-established platform with strong brand foundations and a very capable leadership team. We’re excited to support Craig and the business as it continues to grow and capitalise on global interest in the sport.”

Advisory teams involved in the transaction process

Translink Corporate Finance acted as lead advisors to the shareholders. The team consisted of Andy Haigh, Declan Savage and Will Sykes (all M&A), plus Emma Oakley (SPA Advisory).

David Parker, Charlotte Martin and Martin Griffiths of Addleshaw Goddard provided legal and tax structuring advice to the shareholders, while Tim Ward and Jodele McConnachie of HCR Law advised Ethos. Adam Hughes, Jack Price, and Victoria Reid from Grant Thornton provided debt advisory, and Paul Read, Corin Briault-Hutter, and Luke Gilbert from HMT conducted financial due diligence.

Comments from Translink Corporate Finance

Declan Savage, Director at Translink Corporate Finance UK, said, “Darts Corner has transitioned successfully from an e-commerce retailer to a leading proprietary brand owner with diversified routes to a global market. This transaction reflects the quality of the Darts Corner platform which is well placed to continue its growth trajectory under Ethos’ stewardship. It was great to work with the fantastic leadership team of Darts Corner and the team at Key Capital Partners to get this deal over the line”.