15th Oct 2025 10:33
(Alliance News) - Oakley Capital Investments Ltd on Wednesday said that Oakley Capital Origin Fund II is investing in Barcelona, Spain-based padel equipment brand NOX.
Oakley Capital Investments provides access to private equity funds managed by investment adviser Oakley Capital Ltd.
Oakley Capital Investments' indirect contribution via the fund is expected to be around GBP9 million, the firm said.
Oakley Capital said it is partnering with founder Jesus Ballve and GPF Partners, who will retain a "significant" minority stake in NOX.
NOX sells over 400,000 padel rackets annual in more than 80 countries, accounting for 11% of total global sales.
Over the past four years, NOX has delivered a revenue compound annual growth rate of over 50%, which is ahead of the broader market, Oakley Capital said.
The sport of padel itself is growing at an estimated 25% a year, the firm added, supported by new court construction and the conversion of a growing number of tennis clubs.
Oakley said it will help to accelerate the brand's international expansion, with a particular focus on the US and Asian markets.
It will also help broaden the product portfolio, strengthen digital marketing capabilities and explore further opportunities in the growing pickleball segment.
"Jesus Ballve has built an authentic, high-performance brand with a devoted following among both professional and recreational players. We look forward to supporting Jesus and the NOX team, in partnership with GFP, to scale the business into a truly global brand," said Oakley Capital Managing Partner Peter Dubens.
NOX Chief Executive Officer Jesus Ballve said: "We are proud of the brand we have built over the past 17 years, and we believe Oakley is the ideal partner to take NOX to the next stage of its growth journey. Their expertise in digital marketing, and proven track record with premium sports and lifestyle businesses, will be invaluable as we expand into new markets and continue developing innovative, high-quality products."
Shares in Oakley Capital Investments were up 0.5% at 565.00 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
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