Spanish Padel Brand Nox Secures New Funding with CAGR Exceeding 50%

Spanish padel racket brand Nox announced a new round of funding from European private equity firm Oakley Capital. Following the investment, founder Jesús Ballvé and existing shareholder GPF Partners will retain significant minority stakes.

Founded in Barcelona in 2008, Nox has always been dedicated to creating high-performance padel rackets. Today, its business spans over 80 countries, with annual racket sales exceeding 400,000 units. Many top athletes, including world number one Agustín Tapia, use Nox. Over the past four years, Nox has maintained rapid growth, with a compound annual growth rate exceeding 50%.

Above: Nox x Agustín Tapia collaboration series

In the press release, Nox stated that padel is expanding globally at an annual rate of 25%. Going forward, Jesús Ballvé and the Nox management team will continue to accelerate the brand's internationalization, with a focus on the US and Asian markets.

Additionally, Oakley Capital will help Nox expand its product line, enhance digital marketing, and seek more opportunities in the rapidly growing pickleball market.

Oakley Capital Managing Partner Peter Dubens said: "Jesús Ballvé has built an authentic high-performance brand beloved by both professional players and amateurs. We are delighted to partner with GPF to support Jesús and the Nox team in expanding the business globally."

Nox founder and CEO Jesús Ballvé added: "We are proud of what we have achieved over the past 17 years and are confident that Oakley Capital is the ideal partner to lead Nox into its next phase. Their expertise in digital marketing and success with premium sports lifestyle brands will be instrumental in advancing our global expansion and continuing to develop innovative, high-quality products."

｜Source: SGB Media, Brand official website

｜Image credit: Brand official website