Ace Padel nets funding to serve up expansion plans

A Midlands-based padel operator is serving up ambitious expansion plans after securing £500,000 in funding to open four new clubs across England.

Ace Padel has received the loan from the Midlands Engine Investment Fund II (MEIF II), through fund manager Frontier Development Capital, following the opening of four venues in its first year.

Bosses say the investment will support the launch of its fifth club in Fenton, Stoke-on-Trent, on Saturday, October 17, creating 13 part-time jobs and increasing its portfolio to 20 courts.

Further venues are planned for Coventry, Sefton and Morpeth, with openings expected early next year.

Founded by entrepreneur Jamie Reynolds, former chief executive of recruitment group Cordant, Ace Padel has already raised more than £2 million from private investors and employs over 70 people.

Operating under its ‘padel with purpose’ ethos, the business works with councils, charities and community groups to make the sport more accessible.

Its activities include opportunities for wheelchair users and people with disabilities, alongside free or subsidised sessions for children from low-income families.

The company is targeting 50 courts by the end of 2027 while expanding into fitness, golf and hospitality through its Ace Reformer and Fitness, Ace Golf and Ace Plates concepts.

A further private investment round is planned for 2027 to support its longer-term growth ambitions.

Jamie 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.”

Tom Wilkinson of Beta Commercial Finance provided fundraising advice to the company.

Ryan Cartwright, of Frontier Development Capital, 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. 

“Jamie and Alan put in a huge amount of preparation before the business went live last December, which has enabled it to achieve such rapid growth in its first year. 

“We are pleased to support them as they continue to expand in the Midlands and beyond.”

The £400 million MEIF II, operated by the British Business Bank, provides debt finance of £25,000 to £2 million and equity investment up to £5 million to help Midlands-based small and medium-sized businesses start, grow or innovate, aiming to boost sustainable economic growth, increase early-stage funding availability and improve access to finance for firms that might otherwise miss out.

David Tindall, senior investment manager at the British Business Bank, added: “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.”

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