White & Case Advises Triton on Investment in Pan-European Padel Business and Creation of LeDap Group
2 min read
Global law firm White & Case LLP has advised private equity sponsor Triton on the investment by Triton’s €5.2 billion Fund V in the establishment of LeDap Group ("LeDap"), a leading platform for the racquet sport padel.
LeDap has been created through a pan-European market consolidation that has included more than 30 acquisitions in Sweden, Finland, Norway, Denmark, Poland, Austria, and Estonia, with several additional locations having been contracted.
LeDap will support the expansion of padel by providing infrastructure and investing significantly to ensure that children and the younger generation have the opportunity to play the sport and increase their level of physical activity through a fun and inclusive experience. LeDap has been established with backing of Triton’s €5.2 billion Fund V and additional capital has been ear-marked to support further investments in the sport and continued growth globally through organic rollouts and further acquisitions.
Founded in 1997, Triton has sponsored ten funds in the industrial tech, services, consumer and healthcare sectors which support the development of medium-sized businesses headquartered in Europe. Triton currently has 50 companies in its portfolio with combined sales of around €18.1 billion and around 104,500 employees.
Established in 2021, LeDap is an international group of padel companies currently present in Sweden, Norway, Finland, Denmark, Poland, Estonia and Austria, operating more than 90 centres with in excess of 600 padel courts. By the end of 2022, LeDap aims to be present in more than 200 locations and operate more than 1,700 padel courts.
The White & Case team that advised on the transactions was led by partner Jan Jensen (Stockholm) and included partner Juan Manuel de Remedios (Madrid), local partners Carlos Daroca (Madrid) and Marek Sawicki (Warsaw), counsel Julio Peralta (Madrid) and associates Rebecka Tenenbaum, Jonas Brandt, Niki Yahyavi, Felix Fjellstrom (all Stockholm), Jussi Kukko, Samuel Salmivirta (both Helsinki), Marcus Collins (London), Michał Plich (Warsaw) and Laura Del Olmo (Madrid).
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