Finland's largest nationwide padel chain, Padel X, is joining forces with Open Padel, a padel chain known for its customer-centricity and strong community. The merged entity will operate a total of 115 padel courts across Finland with plans to continue its strong growth in the capital region and elsewhere in Finland via new center openings and M&A, before expanding internationally.
Padel is one of the fastest-growing sports in the world and has gained wide-spread popularity in Finland where the number of players continues to grow.* Finnish owned operators Padel X and Open Padel have both successfully grown by focusing on community and quality. Players have had the chance to enjoy high-quality courts coupled with trendy cafes, saunas, and even cold plunge pools.
"Our focus has always been on getting people to move while creating a community that anyone can join, regardless of background. We want to offer a high-quality playing experience for everyone. Padel X shared these values, and we are excited to join forces with them and inspire even more people to play padel," says Open Padel founder Marius Van Andringa.
Open Padel's growth has focused in the capital region and surrounding areas where the company operates a total of 52 padel courts. Padel X's growth, on the other hand, has focused on larger cities nationwide where the company operates a total of 63 padel courts. The new merged entity operates a total of 115 padel courts and is clearly the largest operator in Finland, and one of the largest padel chains in Europe. The merged company's revenue was 5.4 million euros in 2023.
"Swedes entered the Finnish padel market with a bang executing multiple large acquisitions. Still, now it seems that the battle for the Finnish padel market is starting to turn in favor of the Finns again. Next, we should consider whether it's time for us Finns to spread our wings and start expanding to other countries," says Padel X founder Iivari Lappalainen with a twinkle in his eye.
The merged entity will continue to operate under two brands for the time being, but in the future, operations will consolidate under the Padel X -brand. Marius van Andringa will assume the position of CEO for the merged company while Iivari Lappalainen will take on the role of chairman of the board.
"No immediate changes are planned. We’ll focus on improving the customer experience and developing the sport while ensuring sustainable and profitable operations despite harsh economic headwinds," says Van Andringa.
Contact:
Marius Van Andringa, marius@openpadel.fi
Iivari Lappalainen, iivari@padelx.fi
*) The Finnish Padel Association has announced that the number of padel players has soared with a 15,000 increase in players and a 2,014 jump in licensed players between 2022 and 2023. The upward trajectory is expected to continue into 2024.
