A padel operator which has opened four sites within its first year has outlined ambitious growth plans after securing a £500,000 loan.
Ace Padel’s loan from the Midlands Engine Investment Fund II, through fund manager Frontier Development Capital will support the opening of its fifth site, in Fenton, Stoke-on-Trent, taking place on Saturday, 17 October.
The company, which is based in Stoke-on-Trent, will also use the sum to fund work on its next sites in Coventry, Sefton and Morpeth, which are due to open early next year.
Ace Padel aims to have 50 courts by the end of 2027 and is also expanding its offering to include Ace Reformer and Fitness, Ace Golf and Ace Plates, its own bistro and dining experience. It plans to raise another round of private investment in 2027 to support future growth.
The firm was co-founded by local entrepreneur Jamie Reynolds, former CEO of Cordant Group plc, one of the UK’s largest recruitment businesses. It raised over £2 million from private investors to launch the existing sites.
He said: “Our vision for Ace Padel was to create safe spaces where communities could come and play together. We believe padel shouldn’t feel exclusive – 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’s most recognised ‘padel with purpose’ operator.”
Ace Padel now employs more than 70 people, with the new Fenton club set to create 13 part-time jobs. It will bring the total number of courts operated by Ace Padel to 20. Others are in Cobridge and Milton in Stoke-on-Trent, as well as Lytham St Annes and Culcheth.
Ryan Cartwright, of Frontier Development Capital, said ‘huge amount’ of preparation that was put in before Ace Padel’s first site went live in December has helped it to achieve ‘such rapid growth’.
He added: “Padel is the UK’s fastest growing sport because it’s simple, fun and suitable for all ages and abilities. Ace Padel stands out from the competition in terms of its strong brand and vision.
“We are pleased to support them as they continue to expand in the Midlands and beyond.”
David Tindall, Senior Investment Manager at the British Business Bank, said: “Ace 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.
“We 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.”
