Ergon Capital is the New Owner of Padel Nuestro
After being acquired a year ago by Backspin Capital, Padel Nuestro is once again changing hands. Ergon Capital has announced the acquisition of a majority stake in 360º Padel Group, its parent company.
Ergon Capital Partners has announced the acquisition of a majority stake in 360º Padel Group, parent company of Padel Nuestro.
The Madrid holding company Backspin Capital Investments, had acquired 100% of the share capital of the Murcian company Padel Nuestro (360 Padel Group) a year ago, in a transaction that exceeded a valuation of 20 million euros. Now, just one year later, the company has changed owners, although the amount of the transaction was not disclosed.
Before Ergon's entry, 360º Padel Group was led by Iñigo Colomina, who will remain in the position of Executive President. However, the company has decided to add Rafael Martínez-Avial to the project, who will become the Group’s CEO.
“The global Padel market has great prospects and the Group is uniquely positioned to continue leading it. We believe Ergon is the best possible partner for this phase considering its international reach and track record.” Said Colomina.
“We believe Padel has all the fundamentals to expand rapidly across many countries and, therefore, this transaction is perfectly in line with our trend-based investment strategy. We look forward to contributing our network and experience in this new phase, building on the fantastic job carried out to-date by Íñigo and the team.” Said Pablo Álvarez Couso, Managing Director at Ergon Capital Advisors Spain.
Ergon is a mid-market private equity investment company with €2.5 billion of assets under management from European institutional investors. The company’s current portfolio consists of 21 companies across its target sectors, representing a group of more than €2.0 billion sales and 18,000 employees.