Annika Sorenstam Purchases 50% Stake in Capillary Concrete
Story published at 13:28, Friday, August 5th, 2016
Annika Sorenstam – 10-time major winner and part owner of Capillary Concrete® – has purchased a 50% stake in the company, significantly increasing her financial commitment.
Founded in 2012 by Martin Sternberg, CGCS, Capillary Concrete is an easy to apply, homogeneous and pervious liner featuring exceptional strength and durability. The system’s capillary properties keep bunker moisture levels consistent and playable. At the same time, it promotes improved drainage to ensure sand remains in place after rain, avoiding costly washouts even on severely flashed bunker faces.
More than 2,000 bunkers worldwide have had Capillary Concrete’s patented system installed. They include major championship venues like the Olympic Club (Calif.), Atlanta Athletic Club (Ga.) and Riviera C.C. (Calif.), as well as Ryder Cup hosts Gleneagles (Scotland) and Le Golf National (France). Sales of Capillary Concrete increased by 40% from 2014-15 with similar results expected this year.
“Capillary Concrete saves courses time and money when it comes to maintenance of bunkers and surrounding turf,” says Annika, who has designed courses on three continents. “Even more impressively, it improves course conditioning in an environmentally-friendly manner, something that’s especially important to the game’s continued growth.”
The system has also exhibited stellar results when it comes to reducing irrigation of turfed areas. Water savings of up to 90% and improved plant quality have been documented.
Adds Annika: “Capillary Concrete’s applicability to turf is also extremely encouraging. With water at an increasing premium, there’s incredible potential for its reach beyond golf to sports fields, parks, residential and commercial landscaping, and more.”
The strongest and most environmentally-sound system available, Capillary Concrete works in all climates and consists of a special Light Weight Aggregate which preserves and distributes moisture. It is manufactured by Argex BE and contains no stone material, owing its superior strength to homogeneous bonding.
Sternberg, a PGA member for 30 years, became the first European to earn Certified Golf Course Superintendent (CGCS) status from the Golf Course Superintendents Association of America (GCSAA) in 1992. He also enjoys extensive golf course construction experience from his work with family-owned Sternberg Golf Services AB. In addition to his Capillary Concrete duties, he co-owns and manages 1,500-member Torrekulla Golf Klubb in Gothenburg, Sweden.
An investor since January 2015, Annika officially acquired her additional shares last week from Almi, a Swedish venture capital firm.