Padel World Press - ECOFIDES will accompany Our Padel Group, a leading company in the distribution of sports equipment for the practice of paddle tennis, in its process of development, expansion and implementation in Sweden.
To this end, COFIDES will provide two co-investment loans for a total amount of 2,84 million euros, which the company will use to open its own stores in major cities in the Scandinavian country.
The financing will help cover the costs of purchasing premises, implementation costs and stock of inventories. At present, it should be noted that Our Padel Group has six stores in Sweden, which operate under the franchise regime.
The industry that accompanies this sport is constantly growing and the padel market in the Nordic country is also has undergone a great expansion in the last decade. It should not be overlooked that paddle tennis has become one of the sports
most practiced, only behind football.
Jose Luis Curbelo, President of COFIDES, pointed out: “COFIDES continues to bet on the innovation and flexibility of its financial instruments to support the dynamism of Spanish SMEs in international markets. This operation is a good example that, with the right tools, Spanish SMEs have real growth opportunities through investment abroad”.
Inigo Colomina, Executive President of Our Padel Group, has highlighted: “We are very satisfied with the agreement reached with COFIDES, which will help us achieve the objective of consolidating ourselves strongly in one of the most thriving markets in European padel. Continuing to strengthen our international expansion is one of the great goals that we have set for 2022 and, with operations like this, it will be much easier.”
CONTRIBUTION TO THE SDGs
These projects have the main objective of contribute to the achievement of Sustainable Development Goal 8, Decent work and economic growth. In this case, they will favor the growth of the company abroad and the creation of direct employment.
ABOUT COFIDES
COFIDES is a public-private company that manages State funds, as well as its own resources and those of third-party institutions with different orientations: internationalization of the Spanish economy, promotion of economic development and reinforcement of the solvency of the companies affected by the COVID-19. In its shareholding, in addition to the State, the Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.
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