Press release from Companies

Publicerat: 2021-07-15 19:10:12

Everysport Media Group AB: Everysport Media Group acquires the remaining 50% of the shares in Every Padel


 

Everysport Media Group AB (publ.) (ESMG) has today entered into an agreement to acquire the remaining 50% of the shares in the subsidiary Every Padel i Sverige AB (Every Padel). The purchase price amounts to SEK 28,2 million and consists of newly issued shares in ESMG (the consideration shares). The seller is the real estate company Corem Property Group AB (Corem) via the subsidiary Dagon Sverige AB, which through the transaction becomes a shareholder of ESMG. Every Padel currently operates seven padel facilities in Sweden with over 40,000 customers and has agreements for expansion in 2021 to a further four facilities in Sweden.

In the spring of 2021, ESMG completed an acquisition of 50% of the shares in Every Padel as part of positioning the group within padel and creating new conditions for future expansion and product launches. The remaining 50% of the company, which will now be wholly owned by ESMG, is now acquired.

Comment from ESMG's CEO, Hannes Andersson:

“Padel is one of the world's fastest growing sports and Every Padel has in a short time positioned itself as one of the leading brands in padel not only nationally, but also internationally. There are major synergies with ESMG's other operations, especially in the media segment, which we believe will have further effect after this acquisition. We welcome Corem and its shareholders as shareholders of ESMG and look forward to a continued exciting journey for the group.”

Comment from Corem’s CEO, Eva Landén:

“Every Padel is an exciting company that we believe is fits very well as wholly owned by ESMG. The padel sport is in a very exciting growth phase both in Sweden and internationally, and having a partner in ESMG who runs and owns Every Padel is a good fit. We look forward to continuing the journey as a shareholder of ESMG.”

Transaction highlights:

- Every Padel is one of Sweden's largest companies in the rapidly growing sport of padel. The company conducts operations through the rental of padel courts in its own facilities, sales of padel courts, events, and sales of padel-related equipment.

- The acquisition is part of ESMG's strategy to grow into new product areas in sports and further grow the portfolio's B2C revenues. Every Padel has more than 40,000 customers today and is expected to pass 60,000 customers in 2021.

- ESMG acquires 50% of Every Padel for a purchase price of SEK 28,2 million. The purchase price consists of 639,425 newly issued shares in ESMG. The subscription price for the newly issued shares of SEK 44,08 corresponds to the volume-weighted the average price of Spotlight during the period July 1st – July 14th, 2021.

- The seller is Corem Property Group AB (publ), where the shares are owned by the subsidiary Dagon Sverige AB.

 

About Every Padel

Every Padel i Sverige AB is today one of Sweden's largest padel companies and currently has seven facilities in operation: Librobäck (Uppsala), Fyrislund (Uppsala), Kista (Stockholm), Åby Arena (Gothenburg), Hälla (Västerås), Hedemora (Jönköping) and a temporary establishment at Scandinavian XPO (Arlanda). During the fall, another facility will open in Jönköping and towards the end of the year, three new facilities are planned: in Västerås, Norrköping and another facility in Jönköping. During the winter of 21/22, the first facility abroad will most likely open. In addition to facility operations, there are also other sources of income in form of sales of educative classes, trade fairs and events around the padel sport and sales of equipment. Today, Every Padel consists of approximately 30 employees.

Conditions and time plan

Access takes place today, on July 15th 2021, and includes 50% of the shares in Every Padel. The purchase price for the shares in Every Padel consists of 639,425 newly issued shares in ESMG. The subscription price for the newly issued shares amounts to SEK 44,08 per share. The board of ESMG has decided to issue the consideration shares in accordance with the authorization from the Annual General Meeting on May 24, 2021. By issuing the consideration shares, the number of shares in ESMG increases by 639,425 shares, from, at present, 5,450,339 shares to a total of 6,089,764 shares. This corresponds to a dilution of about 10.5%.

Any questions answered by:

Hannes Andersson, CEO of Everysport Media Group AB, tel: +46 70 736 56 25,
e-mail: hannes.andersson@esmg.se

 

This information is such that Everysport Media Group AB (Publ.) is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made publicly available by the Company’s contact person on July 15th, 2021.

Everysport Media Group (publ.) (ESMG) is a Swedish publicly listed media group with roots in sports and gaming. Our strategy is based on two main components: Content and Media. Within Content, ESMG is a leading provider of performance data, betting tips and sports news. Some of our clients are gaming operators, sports associations and media organizations. Our media portfolio garners over 2 million interactive viewers across multiple platforms, sites, and networks within the industry. 

Läs mer hos Cision
Läs mer om Everysport Media Group AB