Everysport Media Group's subsidiary Every Padel acquires Västerås Padel Arena
Everysport Media Group AB (publ.) (ESMG) announces today that its subsidiary Every Padel i Sverige AB (Every Padel) has entered into an agreement to acquire 100% of the shares in Västerås Padel Arena AB (VPA). The purchase price amounts to SEK 7 million, which will be paid in cash on closing day on July 1st this year. VPA holds six padel courts and one mini court and last year had sales of SEK 7.6 million with a profit before tax of SEK 0.4 million.
Every Padel is one of the leading actors in the fast growing padel market and is expanding rapidly in Sweden. The acquisition of VPA 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:
“The acquisition of VPA further strengthens Every Padel's position in the Swedish padel market. The facility maintains a very high level and I am impressed by VPA's team and its chief operating officer Marc Sätre, who will be part of our continued growth journey. Another Every Padel facility in Västerås will open soon and we see great synergies between the operations, and the opportunity to create a comprehensive offer for our customers both offline and online.”
VPA's founder Marc Sätre comments:
“Every Padel's concept is unique and fits in perfectly with what we have built for Västerås Padel Arena. Our visitors are very loyal and I look forward to presenting more news to them under the Every Padel flag. It will also be very exciting to be part of the company's continued journey towards becoming a leading padel company both nationally and internationally. ”
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.
- In 2020, VPA had sales of SEK 7.6 million with a profit before tax of SEK 0.4 million.
- Name change of Västerås Padel Arena is planned for Every Padel, subject to customary approvals.
- Every Padel acquires VPA for a purchase price of SEK 7 million. The purchase price will be paid on closing day, July 1st 2021.
- The purchase price will be financed through Every Padel's available liquid funds upon access.
- The seller is Samtida Fastigheter AB. In connection with the acquisition, a new 10-year lease agreement is signed with the property owner (Klövern) 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 VPA
VPA was opened in 2017 in Hälla, Västerås. The property in which the business is conducted covers 2300 sqm and is fully adapted for padel (completed when the business opened). 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, e-mail: hannes.andersson@esmg.se
Marc Sätre, founder Västerås Padel Arena AB, tel: +46 70 162 89 90
e-mail: marc@vasteraspadel.se
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 21st, 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.
