Private Equity Investment Accelerates Darts Equipment Manufacturing Boom
In the heart of Kenya's manufacturing landscape, far removed from the iconic Alexandra Palace stage, a remarkable industrial operation is working at full capacity to support the unprecedented global surge in darts popularity. The Nodor Group's primary production facility, located south-east of Nairobi, employs approximately 2,000 Kenyan workers who transform premium East African sisal and tungsten into the professional-grade Winmau dart boards and Red Dragon darts that dominate the Professional Darts Corporation (PDC) Tour.
Meeting Unprecedented Global Demand
Current annual production stands at an impressive one million dart boards and two million sets of darts, yet this substantial output still falls short of satisfying the explosive worldwide demand. The sport's remarkable growth trajectory, fueled by soaring attendance figures, expanding television audiences, and booming equipment sales, has created a supply challenge that industry leaders are racing to address.
"Unless we can significantly increase our manufacturing capacity, we risk limiting market growth potential," explains Nodor CEO Tom Brown, whose company has experienced extraordinary financial success in recent years. "As the established market leaders, our production capabilities directly influence the sport's expansion opportunities."
The company's remarkable performance metrics tell a compelling story of rapid growth, with revenue multiplying fivefold between 2019 and 2024. Current projections indicate sales will reach the £100 million milestone this year, reflecting the sport's accelerating commercial momentum.
Strategic Private Equity Partnership
European investment firm Inflexion recognised this growth potential and acquired a majority stake in Nodor in December 2024. This strategic partnership is now driving substantial investment in both manufacturing infrastructure and marketing initiatives designed to address the current supply-demand imbalance.
"This strategic investment provides the resources necessary to maximise emerging opportunities," notes Brown, who joined Nodor in October from home appliances manufacturer SharkNinja. "Our immediate focus involves aggressive expansion into the North American market, which represents significant untapped potential despite its current relative immaturity."
The company's American strategy involves substantial recruitment and market development efforts. "While our current US footprint remains modest, we're implementing aggressive hiring and expansion plans," Brown explains. "We recognise that our current capacity limitations may be constraining growth in the American market, and we're committed to removing those barriers."
Product Innovation and Professional Partnerships
Nodor recently launched its latest innovation, the Blade X dart board, which will make its competitive debut at this weekend's Winmau World Masters tournament. The event features thirty-two of the world's elite players, including teenage sensation Luke Littler and Red Dragon-sponsored professionals Luke Humphries and Gian van Veen.
Simultaneously, Winmau has strengthened its professional partnership by extending its agreement with the PDC to supply dart boards for all tour events, reinforcing the brand's dominance at the sport's highest competitive level.
PDC's Perspective on Investment and Growth
The PDC itself has experienced significant investor interest, with multi-sport promoter Matchroom fielding private equity approaches in 2023. Although discussions with prominent firms including CVC and KKR ultimately didn't result in agreements, the organisation's reported £800 million valuation reflects darts' remarkable commercial ascent.
PDC Chief Executive Matt Porter acknowledges the organisation faces its own supply challenges, particularly regarding tournament ticket availability. "The involvement of investors with substantial resources and ambitious vision represents an exciting development for our sport," Porter states. "Their participation can help elevate darts to the next competitive and commercial level."
However, Porter emphasises the importance of investor understanding: "Our discussions with potential partners revealed that genuine comprehension of the sport's unique dynamics becomes apparent early in conversations. Those who don't grasp these fundamentals aren't suitable partners for this particular journey."
Youth Engagement and American Market Potential
The sport's increasing accessibility and mushrooming youth participation represent crucial growth drivers. "Darts has undergone a remarkable transformation in perception," observes Porter. "It's now genuinely considered cool among younger generations, which creates a sustainable foundation for future development."
This youth engagement has expanded the talent pool, producing a larger cohort of elite players that both Brown and Porter believe will prove instrumental in breaking into the American market.
"Our US sales and market penetration continue growing steadily," Brown explains, "but we're still awaiting that breakthrough moment of player-led explosion that triggered exponential growth in established markets like the UK, Netherlands, and Germany."
The PDC has already made strategic inroads through its annual Madison Square Garden tournament and last year's broadcast agreement with NBC's streaming platform Peacock. "American expansion requires sustained commitment," Porter concludes. "It demands time, investment, and patience because the primary beneficiaries won't be current top American players but rather the next generation of talent emerging through improved access and engagement."
