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In a move that signals growing investor appetite for sports and lifestyle brands, Oakley Capital announced Wednesday that it has acquired a majority stake in NOX, a Spanish manufacturer renowned for its high-performance padel rackets.

The deal, executed through Oakley’s London-listed investment fund, marks a powerful new partnership with NOX founder and CEO Jesús Ballvé and GPF Partners, who will retain a “significant” minority interest in the rapidly expanding brand.

Oakley Capital Investments Ltd., listed on the FTSE 250, confirmed the transaction in a statement to the London Stock Exchange, though the firm withheld the exact financial details and equity breakdown.

A Strategic Play for a Growing Sport

While terms remain confidential, Oakley Capital Investments (OCI)—registered in Bermuda—disclosed that it contributed approximately £9 million ($12.1 million) into the deal via its Origin Fund II, which targets promising ventures across the consumer, business services, education, and technology sectors.

Padel, a hybrid sport combining elements of tennis and squash, has exploded in popularity across Europe and Latin America—and investors are taking notice. By acquiring a majority position in NOX, Oakley aims to capitalize on the sport’s surging international following and strengthen NOX’s foothold in global markets.

“Oakley Capital’s expertise in digital marketing and their success in premium sports and lifestyle brands will be instrumental in expanding our global presence and continuing to deliver innovative, high-quality products,” said Ballvé, expressing optimism about the new partnership.

Legal Teams and Transaction Framework

Ballvé received legal guidance from Spanish law firm Blas A. González Abogados SLP, while Oakley Capital declined to disclose its own counsel. The deal structure ensures Ballvé and GPF Partners remain actively involved in NOX’s operations and growth strategy, combining entrepreneurial leadership with Oakley’s financial and strategic backing.

Powering the Next Phase of Growth

The acquisition marks yet another stride for Oakley Capital’s investment portfolio, which has increasingly focused on lifestyle, technology, and performance-driven brands. NOX’s premium image, paired with Oakley’s international reach, sets the stage for an aggressive global expansion strategy that could see the Spanish padel icon turn into a household name across continents.

As Oakley Capital acquires majority stake in NOX, the deal underscores a growing trend: the fusion of athletic innovation and investment strategy, where sports gear becomes not just a pastime—but a powerful portfolio move.