Paddletek Group Announces Landmark Move: Acquisition of PIKKL
On July 7, pickleball ecosystem company Paddletek Group announced the acquisition of paddle brand PIKKL.
Paddletek, founded in 2010, is one of the world's leading pickleball paddle brands and in 2025 acquired paddle brand ProXR and equipment brand Yobow. The group is now the official paddle sponsor of Major League Pickleball, the Professional Pickleball Association (PPA), the US Open Pickleball Championships, and the USAP Nationals.
Acquired PIKKL was founded in 2023 in Minnesota by Dan Martinson and Mike Strommen. Dan Martinson has 30 years of entrepreneurial experience in the rubber and plastics industry and holds multiple patents. In addition to paddles, PIKKL also sells pickleball bags and basic apparel.
Besides paddles, replaceable "Pro Skins" paddle skins are also a highlight of PIKKL's products. When the paddle surface texture wears out, peeling off the old skin and applying a new one restores spin performance. A set of 5 skins is priced at $69.99.
Acquirer Paddletek Group is a portfolio company of Thirty-5 Capital, a private equity fund focused on the sports industry. Thirty-5 Capital is headquartered in Chicago and founded by Ron Saslow. Saslow's family business was a global dental equipment manufacturer, and he is also a sports fan who invested in the MLB Chicago Cubs as early as 2015. In 2019, the family business was sold for $775 million, providing Saslow with substantial capital for subsequent investments.
Saslow is highly optimistic about the growth of pickleball. Given that the sport is still in its early stages, Thirty-5 Capital has expanded its investments in the field from paddle manufacturers, teams, and leagues to broader areas. For example, Saslow previously invested in the athletic shoe brand Sqairz. That brand recently launched the industry's first pickleball shoe developed from scratch and granted Thirty-5 Capital exclusive rights in the pickleball category, selling through the ProXR channel.
On the occasion of this transaction, Ron Saslow said: "We have been looking for teammates who share our passion for the sport. The Johnson family spent months searching for paddles and brands that could help them win. The two paths eventually converged, and we didn't hesitate to seize this opportunity to build one of the most talented teams in pickleball."
After the acquisition, PIKKL co-founders Strommen and Martinson will continue to collaborate with the Paddletek Group to drive innovation and the future development of performance pickleball paddles.
| Source: Official press release; SPORTICO
| Image source: Official website