Padel X, a fully Finnish owned company that has become the largest player in the industry, continues its growth through acquisitions and opening new centers. Known for its high-quality facilities and community-driven approach, Padel X is now expanding to the Helsinki metropolitan area through acquisitions, as the Billebeino Padel Vallila courts in downtown Helsinki transition to Padel X ownership. According to Iivari Lappalainen, the founder and CEO of Padel X, the padel market is recovering, and Padel X is prepared to strengthen their commitment in the sport and its culture.
Padel continues to grow globally and remains one of the fastest-growing sports worldwide. The sport has also gained popularity in Finland, where the number of enthusiasts continues to rise (*). However, the sudden growth of the sport has also caused some growing pains. Courts have appeared in many locations faster than popularity has grown, resulting in challenges for some operators. In a situation of intensified competition, high-quality venues thrive, and diligent operators succeed, ensuring that the fans of the growing sport continue to have access to quality facilities also in the future.
The Finnish owned Padel X has managed to become the market leader in a primarily foreign-owned market. Padel X courts can be found in nearly every major city in Finland. The concept of Padel X has always differed from other padel centers: quality, comfort, relaxation, and community are at the core of Padel X. In addition to high-quality courts, players in Padel X cities can also enjoy Padel X's fitness centers, cafes, saunas, and cold plunges among other amenities.
"We aim to offer a first-class gaming experience and quality facilities for enjoyment. The acquisitions and expansions we are undertaking now support our strategy and make us the largest player in the growing market of Finland," says Lappalainen.
Padel X's growth focuses on major cities and the Greater Helsinki area. The Billebeino Padel Vallila courts in downtown Helsinki have transitioned under Padel X ownership. Facilities and operations in Vallila will be further developed in close collaboration with the property owner. Additionally, a new Padel X center will open in Espoo. More details will be announced soon. Padel X is also entering the Tampere market, the Finnish capital of padel, as the El Padel center, the largest and newest padel center in the Tampere region, transitions under Padel X ownership.
"We are excited to have the opportunity to join forces with domestic high-quality operators and I am thrilled that the owners of all acquired businesses are joining our story as new Padel X owners," Lappalainen rejoices.
The Founder of Billebeino Padel, Ville Leino, is equally excited about the acquisitions: "The domesticity and overall vibe of Padel X is aligned with Billebeino's ethos. It's fantastic that the story of Billebeino Padel in Helsinki will continue in the best possible company!"
Padel X's growth is supported by a group of domestic investors, including sports magnate Risto Nieminen, real estate veterans Kai Keituri and Mika Matikainen, marketing experts Mikko Hakkarainen and Niclas Kristiansson, finance professionals Jaakko Harlas, Niko Mokkila, and Tommi Kaltio, legal expert Ilkka Perheentupa, health & wellness CEO Annastiina Hintsa, and media personality Sami Kuronen. The company's growth has been strong, with 2023 revenue reaching three million euros, a 5x growth compared to 2022 revenue.
"We see that the temporary disruption in the Finnish padel market is behind us and brighter times await for the sport that has reached an established popularity," concludes Lappalainen.
Contact Information:
Founder and CEO Iivari Lappalainen, iivari@padelx.fi
* According to the Finnish Padel Federation, the number of enthusiasts has increased by 15,000 enthusiasts and the number of licensed players by 2,014 players from 2022 to 2023. The Finnish Padel Federation expects the growth to continue in 2024.
