‘Padel with purpose’ firm to launch three new clubs with help of MEIF II loan

Ace Padel currently operates clubs at Cobridge and Milton in Stoke-on-Trent, as well as Lytham St Annes and Culcheth. The loan from the Midlands Engine Investment Fund II, though fund manager Frontier Development Capital, will support the launch this weekend of its fifth club in Fenton, Stoke. It will also enable the business to fund work on its next sites in Coventry, Sefton and Morpeth which are due to open early next year.

Ace Padel promotes ‘padel with purpose’ and aims to bring together people from different backgrounds and communities. It works with local councils, community groups and charities and caters for people of all ages including wheelchair users and people with disabilities. It also offers free or low-cost access to children from low-income families.

The business was founded by local entrepreneur Jamie Reynolds, former CEO of Cordant Group plc, one of the UK’s largest recruitment businesses. It raised over £2m from private investors to launch the existing sites.

Ace Padel now employs over 70 staff. The Fenton club, which is due to open on Saturday 17 October, will create 13 new part-time jobs and bring the total number of courts it operates to 20. The company 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.

Jamie Reynolds, co-founder and Director, 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.”

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.”

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

The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides equity investment up to £5m and debt finance from £25k to £2m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.