Everysport Media Group's subsidiary Every Padel acquires Padel Panorama - one of the world's largest padel facilities
Everysport Media Group AB (publ.) (ESMG) today announces that its subsidiary Every Padel i Sverige AB (Every Padel) has entered into an agreement to acquire 100% of the shares in Padel Panorama AB (Padel Panorama). The padel facility is one of the world's largest indoor facilities and houses 23 padel courts, and soon eight outdoor courts will open. Padel Panorama was opened in Jönköping in December 2020 and during the first five months of 2021 had sales of SEK 7.5 million and a profit of SEK 3.4 million. Access will take place on July 1st this year.
Every Padel is one of the leading actors in the fast growing padel market and is expanding rapidly in Sweden. The acquisition of Padel Panorama is in line with the company's strategy to grow both organically and through acquisitions, and to offer premium facilities around padel. A global initiative has also been taken to launch products and services that extend beyond the range of the facilities.
Every Padel's Chairman of the Board and ESMG's CEO Hannes Andersson comments:
“Every Padel continues to grow fast both organically and through acquisitions, and through the acquisition of Padel Panorama, we bring an absolute world-class facility into our portfolio. Every week, the facility is visited by over 5,000 customers, who will now be able to access Every Padel's offer both offline and online. We are also strengthening our position in the Jönköping region, which in the fall of 2021 will be supplemented with two more Every Padel facilities, and thereby become a hub for Every Padel's operations in Sweden ”
Padel Panorama's founder Kristoffer Göthner comments:
“In a short time, Padel Panorama has positioned itself as one of the leading padel facilities in Sweden and is today a meeting place with a unique atmosphere. Every Padel's concept will lift the facility to new levels and I look forward to seeing how our customers will get to take part in even more events, training and all the ancillary services that Every Padel offers. It has been a fantastically fun time with Padel Panorama, but seeing the business take the next step through Every Padel will be very exciting, both as a previous owner and as a continued player and customer.”
The acquisition in brief:
- Every Padel is one of Sweden's largest companies in the rapidly growing sport of padel. The company conducts business through the rental of courts in its own facilities, sales of padel courts, events, and sales of padel-related equipment.
- The acquisition is part of Every Padel's and ESMG's joint strategy to grow into product areas within SportsTech and further grow the portfolio's end customer revenues. Every Padel already has 30,000 customers and will pass 50,000 customers in 2021.
- Padel Panorama was founded in December 2020. During the period January to May 2021, the company had a total turnover of SEK 7.5 million with a profit of SEK 3.4 million.
- Name change on Padel Panorama is planned for Every Padel, subject to custom approvals.
- The seller is Framtidsverket Holding AB. Every Padel acquires Padel Panorama for a purchase price of SEK 0.6 million, which is paid upon access in cash. In connection with the access, a new 10-year lease is signed with the property owner in which the business is conducted.
- ESMG consolidates Every Padel's operations in its accounts.
About Every Padel
Every Padel (formerly Klövern Padel) is today owned by Everysport Media Group AB (publ.) together with the real estate company Klövern. In Sweden, the company operates a number of padel facilities and in addition to facility operations, there are also other sources of income in the form of sales of padel courts, trade fairs and events around padel and sales of equipment. Recently, a growth strategy was launched, including an international expansion plan, a digital strategy and the creation of the Every Padel Community, which includes a team of some of the world's best players, an association plan, and an investment in training young padel players.
About Padel Panorama
Padel Panorama was opened in December 2020 in Södra Stigamo, Jönköping. The property in which the business is conducted covers close to 8,000 sqm and is fully adapted for padel (completed when the business opened). During the summer, eight outdoor padel courts will open adjacent to the facility, so in total, the Padel Panorama (future Every Padel) will consist of 31 padel courts. The company conducts business through rental of courts, organization of events, as well as sales of sponsorship and padel-related equipment.
Any questions answered by:
Hannes Andersson, CEO Everysport Media Group AB and chairman Every Padel i Sverige AB,
tel: +46 70 736 56 25,
Kristoffer Göthner, founder Padel Panorama AB,
tel: +46 709 699 518
This information is such that Everysport Media Group AB (Publ.) is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made publicly available by the Company’s contact person on June 17th, 2021.
Everysport Media Group (publ.) (ESMG) is a Swedish publicly listed media group with roots in sports and gaming. Our strategy is based on two main components: Content and Media. Within Content, ESMG is a leading provider of performance data, betting tips and sports news. Some of our clients are gaming operators, sports associations and media organizations. Our media portfolio garners over 2 million interactive viewers across multiple platforms, sites, and networks within the industry.