Padel operator Ace Padel has secured \u00a3500,000 in debt finance to support its next phase of growth, following the launch of four clubs in its first year of trading.<\/p>\n
The funding, provided through the Midlands Engine Investment Fund II and managed by Frontier Development Capital, will support the opening of the company\u2019s fifth venue in Fenton, Stoke-on-Trent, as well as development work at planned sites in Coventry, Sefton and Morpeth.<\/p>\n
Founded by entrepreneur Jamie Reynolds, former chief executive of recruitment group Cordant Group plc, Ace Padel operates clubs in Cobridge and Milton in Stoke-on-Trent, Lytham St Annes and Culcheth. The business has also raised more than \u00a32m from private investors to establish its existing venues.<\/p>\n
The new Fenton club, scheduled to open on Saturday 17 October, will create 13 part-time jobs. It will take the company\u2019s workforce above 70 and increase its total number of courts to 20.<\/p>\n
Ace Padel\u2019s expansion strategy targets 50 courts by the end of 2027. Alongside its core padel offering, the company is developing additional concepts spanning reformer Pilates and fitness, golf, and Ace Plates, its own bistro and dining experience. A further private investment round is planned for 2027 to support its longer-term ambitions.<\/p>\n
The company positions its clubs around community access, working with local authorities, charities and community organisations to make the sport accessible to people of different ages and abilities. Its initiatives include provision for wheelchair users and people with disabilities, alongside free or reduced-cost access for children from lower-income households.<\/p>\n
Jamie Reynolds, co-founder and director of Ace Padel said: \u201cOur vision for Ace Padel was to create safe spaces where communities could come and play together. We believe padel shouldn\u2019t feel exclusive \u2013 it should be somewhere people feel they belong. The funding will help us to continue building a network of clubs that genuinely serve the people around them. Ultimately, we aim to become the UK\u2019s most recognised \u2018padel with purpose\u2019 operator.\u201d<\/p>\n
David Tindall, senior investment manager at the British Business Bank, said: \u201cAce Padel is an excellent example of a growing business that is combining commercial ambition with a strong commitment to creating a positive impact in the communities it serves. Jamie and the team have built an impressive business, creating jobs and investing in new facilities while developing an ambitious growth strategy.<\/p>\n
\u201cWe are pleased to see the funding from the Midlands Engine Investment Fund II helping the firm continue to grow its presence and create opportunities for people to connect with others and be part of their local community.\u201d<\/p>\n
Beta Commercial Finance provided fundraising advice to Ace Padel.<\/p>\n
The \u00a3400m Midlands Engine Investment Fund II operates across the Midlands, offering equity investment of up to \u00a35m and debt finance ranging from \u00a325,000 to \u00a32m. The fund is designed to improve access to finance for small and medium-sized businesses, supporting start-ups, expansion plans and innovation while encouraging sustainable economic growth across the region.<\/p>\n","protected":false},"excerpt":{"rendered":"
New funding will support the opening of the company\u2019s fifth venue in Fenton, Stoke-on-Trent, as well as development work at planned sites in Coventry, Sefton and Morpeth<\/p>\n","protected":false},"author":266702,"featured_media":2118208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120904],"coauthors":[127717],"class_list":["post-2118205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sport","tag-coventry-and-warwickshire","tag-featured-story","tag-staffordshire"],"yoast_head":"\n