HMT advised Ethos Partners on its acquisition of Darts Corner, the UK’s leading specialist darts retailer and brand owner alongside new debt facilities and an equity investment from Beechbrook Capital.
Founded in 2005 and headquartered in Bolton, Darts Corner has grown from a niche online retailer into a global e-commerce platform, with proprietary and third-party brands including Mission, Ruthless, and Designa. 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 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.
Ethos will support the next phase of growth, with a strategy focused on internationalisation, brand-led innovation, and platform scalability.
The HMT team provided financial due diligence on this transaction.
“HMT’s due diligence team was instrumental in giving us the clarity and confidence we needed to move forward with the acquisition of Darts Corner. Their analysis was thorough, their insights were actionable, and their responsiveness throughout the process exceeded our expectations.”
– Ben Kirby, Partner – Ethos Partners
“We are delighted to have advised Ethos Partners on their acquisition of Darts Corner and to have played a role in helping the deal come together smoothly. In Ethos, Darts Corner have found the right partner to reach their ambitious growth plans and we look forward to working with them again in the future.”
– Paul Read
