- Ergon Capital Partners V SCSp closed in May at $825 million.
- 360 Padel Group’s core management team are fully reinvesting alongside Ergon
- Spanish venture capital firm Inveready, which has been invested in 360 Padel Group since 2021, has also committed to reinvesting
Ergon Capital Partners has acquired a majority stake in 360 Padel Group. 360 Padel Group’s core management team and existing investors Inveready have both committed to reinvesting alongside Ergon.
360 Padel Group is the largest specialized padel platform globally and the owner of Siux. The group was founded in 2010 and is headquartered in Madrid. It employs approximately 200 people, has 80 physical stores and an online presence.
Ergon is a mid-market private equity investment firm with $2.6 billion in assets under management. It looks to make equity investments in leading companies with sustainable competitive positions in attractive niche markets located in the Benelux, Germany, Spain, Italy and France.
“The Group is a market leader in a sport which we believe has all the fundamentals to expand rapidly across many countries and, therefore, this transaction is perfectly in line with our trend-based investment strategy,” said Pablo Alvarez Couso, managing director at Ergon Capital Advisors Spain. “We look forward to contributing our network and experience in this new phase, building on the fantastic job carried out to-date by 360 Padel Group’s team”
Ergon will continue to foster 360 Padel Group’s expansion in key padel markets and will further strengthen the group. Rafael Martinez-Avial will become the group’s CEO.
“The Group’s success to date has been rooted in a relentless omnichannel approach, which we will further enhance by being even closer to customers and to the overall padel community,” said Rafael Martinez-Avial, 360 Padel Group’s CEO. “The project shares some similarities with some of my prior experiences and I am therefore excited to start this new phase alongside Ergon and the rest of the 360 Padel Group team”