• All For Padel (“AFP”) is the global licensee of adidas AG (“adidas”) in padel, pickleball and beach tennis, and is currently one of the leading companies in the design, manufacture and marketing of padel rackets, accessories and courts.
  • SOPEF’s minority investment is intended to support AFP and the current management team in consolidating the Company’s growth and accelerating its international expansion.
  • The booming of the padel industry has allowed the Company to expand internationally thanks to the high penetration of this sport in several countries around the world. Throughout its history, AFP has achieved collaborations with internationally recognized figures and is already present in more than 40 countries.

Madrid, 18th November 2022 – Spain Oman Private Equity Fund (“SOPEF“), an investment vehicle managed by MCH Private Equity, announced its entry with a minority stake in All For Padel. This would be its ninth investment since its inception in 2018.

In this new phase, AFP, thanks to SOPEF’s support, aims to consolidate the company’s organic growth and accelerate its international expansion by taking advantage of the challenges and opportunities that the sector brings. In addition, with the entry of SOPEF, AFP seeks to obtain the financial and management support to accomplish its ambitious strategic plan.

AFP is a leading global company specialized in the design, manufacture and marketing of padel rackets, accessories and courts, as well as other racket sports such as pickleball and beach tennis. AFP is the exclusive worldwide licensee of adidas for these sports, which after years of work and relying on the positioning of a global highly recognized brand, has managed to position the Company as a reference in the padel industry thanks to the high-quality standards of its products and its continuous improvement and innovation.

AFP is present in more than 40 countries and collaborates with clubs, entrepreneurs, associations and international federations to promote the development and growth of this sport worldwide. AFP aims to present value-added projects ranging from the production of padel rackets and accessories to the construction and installation of courts, as well as training programs for instructors and athletes through the AFP Academy.

AFP closed 2021 with revenues of more than €30.0 million and expects to reach €50 million by 2022, representing a growth close to 70%. The Company expects this growth prospects to continue in the coming years.

According to Jose Luis Sicre, co-founder and CEO at All For Padel “the entry of SOPEF in AFP means having more resources to strengthen the structure of the company and to promote many of the projects AFP has in its portfolio, which aim to develop the padel in the international scene as well as to consolidate AFP as one of the leading companies in the sector”.

According to Luis Parras, partner at SOPEF, “AFP represents an excellent opportunity for SOPEF in a high growth industry such as padel with great potential for international expansion, which is one of the key value drivers that SOPEF seeks to develop in its portfolio companies. The strength of the adidas brand, the excellent positioning achieved by the Company in the rackets and courts industry worldwide and the outstanding performance in the day-to-day operations achieved by the management team in recent years have been the key factors for SOPEF to pursue this investment”.

The padel industry is booming, having registered unprecedented growth in recent years, both domestically and internationally. These historical growth rates are expected to continue in the coming years in certain European countries and to be replicated in other geographical areas such as the Middle East and the USA.

Spain is the undisputed leader in the padel industry, both in terms of the number of federated players as well as the number of courts installed, being one of the pioneering countries in the adoption of this sport. In Spain, padel has established itself as one of the most practised sports in the territory. In addition, the Spanish padel has a strong global recognition due to the presence of a large number of professional players in the world rankings.

SOPEF’s advisors on the transaction have been KPMG for the Due Diligence, Kiriom for the commercial assessment, Attalea for the ESG analysis and Ambar Partners for legal advice. AFP’s legal advisor was Andersen.

About All For Padel

All For Padel was created in late 2010 by Bruno Entrecanales, Javier Ulecia and José Luis Sicre and signed its licensing agreement with adidas in January 2012. The company is represented through distributors in more than 40 countries and is present in all relevant customers in the Spanish market.

AFP also participates with a significant majority in AFP Courts, a company dedicated to the design, manufacture and distribution of padel courts.

The company’s goal is to bring the sport of padel to new countries and to take a relevant position in these new markets by offering a comprehensive solution to entrepreneurs who decide to bet on this sport.

About SOPEF

The SOPEF fund was created in 2018 with the aim of supporting Spanish companies to develop their internationalization plans by taking temporary minority stakes. Its investors are COFIDES, FIEX and the Oman Investment Authority, and it contemplates a total investment of €200 million. The fund is managed by MCH Private Equity, one of the most prestigious national management companies in the Spanish private equity sector.

Since its creation, SOPEF has made investments in 9 companies, taking minority stakes in international companies such as Palacios, Llusar, Symborg, Logalty, Noucor and Seabery.