The sporting goods business, which provides equipment usage, brand and participation data to manufacturers, distributors and sport federations, employs nine staff, all of whom remain with the business and continue to be based out of their existing offices in Wisley, Surrey following the sale.

It supplies the equipment census for all European Tour golf events worldwide, The Open Championship and the Wimbledon Tennis Championships.

IFM Sports Marketing Surveys director Nigel Geach (pictured) said: “This is a strategic move. We are a worldwide provider of sponsorship research and evaluation and we intend to focus on our success and reputation in this field. Our work in the sports goods market, although complementary, is not considered core to our future success so we took the decision to divest this part of our business to focus on what we do best.”

Bushell was backed in the MBO by Stephen Proctor, who founded Sports Marketing Surveys in 1984 before selling it to IFM in 2008. Excluded from the IFM sale was the Sports Marketing Surveys USA business, led by Keith Storey with Proctor as chairman.

The two businesses Proctor now chairs will work collaboratively, with Storey becoming a director of the UK company. Proctor said: “With our involvement in the USA, I believe we are now the world’s largest specialist sport research organisation. This is a great deal for both parties and leaves the IFM Group free to concentrate on its core businesses in sponsorship research and evaluation.”

Editor’s note: This story has been update to correct a number of inaccuracies. We apologise for any confusion.