NOX bets on internationalization with the incorporation of GPF in its shareholding structure

The investment fund GPF Partners has become a shareholder of NOX. An alliance that will undoubtedly serve to further boost the growth and positioning of the brand globally.

Founded in 2015 by Martín Rodríguez-Fraile, Ignacio Olascoaga, Lorenzo Martínez de Albornoz and Guillermo Castellanos, GPF Partners currently manages more than €1.2 billion of capital between the GPF (Private Equity) and Inbest GPF (Real Estate) funds. All funds are exclusively owned by private investors from Spain, USA and 15 Latin American countries. On this occasion, the great development of the padel market has aroused their interest in betting on one of the most recognized brands in the sector.

The current CEO and founder of NOX, Jesús Ballvé, who has a unique trajectory and knowledge of the sector, will continue to lead the project. Together, the management team and GPF have developed an ambitious strategic plan whose pillars are: (i) to maintain and strengthen the competitive position in the current market by ensuring the highest quality in all its products; (ii) to expand its knowledge and experience to other racquet sports such as pickleball; and (iii) to consolidate an international expansion plan that takes advantage of the great growth of the sport.

NOX currently boasts of being the padel brand with the most followers on social networks, as well as having Agustin Tapia (#1 in the men's world ranking of professional players) and Nico Gianotti (#1 in the men's world ranking of beach tennis) leading Team NOX. In recent years it has taken advantage of the growth of padel in new geographical markets to accelerate its internationalization strategy, as well as to diversify its customer and supplier base.

NOX already operates in multiple countries in the European Union, USA, United Arab Emirates and Latin America. To date, international sales represent more than 50% of the brand's total sales and are expected to increase as the sport continues to grow and consolidate in new countries. Between 2022 and 2023, it built its own factory in Paraguay in a strategic effort to expand control over the supply and quality of its rackets.

With GPF's investment in the shareholding of NOX, the company takes an important step in its process of internationalization and expansion of brand recognition worldwide.