Madrid, 28 July 2022. COFIDES is to support Grupo Pādel Nuestro, a company specialising in the distribution of sports equipment for padel tennis, in its development and implementation process in Sweden.
To this end, COFIDES is to provide two joint investment loans for a total sum of €2.84 million, which the company will use to open its own stores in major cities in the Scandinavian country. The funding will help cover the costs of buying premises, implementation expenses, and stock. Grupo Pādel Nuestro has six stores in Sweden at present, which operate as franchises.
The industry supporting this sport is constantly growing, and the padel market in the Nordic country has also expanded greatly over the last decade. Hence, padel has become one of the most popular sports, with only football ahead of it.
José Luis Curbelo, chairman of COFIDES, indicated that “COFIDES continues to focus on innovation and the flexibility of its financial instruments to support the drive of Spanish SMEs in international markets. This operation is a good example of how, with the right tools, Spanish SMEs have real opportunities for growth through investment abroad.”
Iñigo Colomina, CEO of Grupo Pādel Nuestro, highlighted: “We are very pleased with the agreement reached with COFIDES, which will help us meet the goal of strengthening our position in one of the most thriving padel markets in Europe. Continuing to strengthen our international expansion is one of the major goals we have set for 2022 and, with operations like this, it will be much easier.”
CONTRIBUTION TO THE SDGS
These projects contribute to the meeting of Sustainable Development Goal 8, Decent Work and Economic Growth. They will therefore favour company growth abroad and the creation of direct employment.
ABOUT GRUPO PĀDEL NUESTRO
Grupo Pādel Nuestro is a world leader in the distribution of sports equipment for the practice of padel tennis. It sells a wide range of sports-related products both online and in physical stores. Present in many countries across the globe, in Spain alone it has over 200 employees. Its headquarters are located in Alcantarilla (Murcia) and Madrid.
COFIDES, a State-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).