Deal Announcement | Acquisition of Tennis-Point Group

Investor consortium led by Orlando Capital V successfully completes acquisition of Tennis-Point Group

• Tennis-Point is the leading omnichannel retailer for racquet sports with a focus on tennis in Europe and the USA
• The now acquired business units generated annual sales of over €190 M in the last financial year 2023
• Complex transaction from insolvency proceedings in a consortium of investors with the participation of company founder Christian Miele and other entrepreneurs

München / Herzebrock-Clarholz, 1^st of February 2024 – Following the successful signing of the purchase agreement at the beginning of January, the investor consortium led by Orlando Capital V has now successfully completed the takeover of the business operations of the insolvent Tennis-Point Group. In addition to Orlando Capital V, the consortium includes Tennis-Point CEO and company founder Christian Miele as well as other entrepreneurs. As part of a combination of asset and share deals, all assets of Tennis-Point GmbH, the shares in the European sales companies and the business operations in the US will be acquired. The transaction marks the second platform acquisition for Orlando Capital V in 2024.

Tennis-Point is the leading omnichannel specialist retailer in Europe for sportswear and equipment for racket sports, with a focus on tennis and padel. The company operates various online stores (including www.tennis-point.de) as well as over 30 brick-and-mortar retail stores across Europe. With almost 500 employees, the recently acquired business units generated annual sales of over €190 M, of which over 75% were generated online. Tennis-Point has a portfolio of six established own brands and maintains strategic partnerships with all relevant sporting goods manufacturers of equipment, clothing and accessories. The extensive product range of over 20,000 items is one of the largest in the segment and is aimed at a wide range of sports enthusiasts. The company is headquartered in Herzebrock-Clarholz, Germany.

As part of Signa Sports United ("SSU"), Tennis-Point GmbH filed for insolvency in October 2023 after a capital commitment from parent company SIGNA Holding GmbH was unexpectedly terminated. The subsequent accelerated sales process, which also included the carve-out of key components of the IT infrastructure, placed the highest demands on all parties involved. The completion of the sales process now heralds a return to profitable growth for Tennis-Point as an independent company. Georg Madersbacher, Partner at Orlando Capital, comments: "Tennis-Point has built up an excellent market position in the international tennis equipment market in recent years. The acquiring consortium is convinced that with the right measures, the company will continue its success story.”

About Orlando Capital

Orlando Capital V is an investment company based in Munich that is primarily active in German-speaking countries and the Nordic countries. We manage the private equity fund Orlando Capital V with a fund volume of €255 M. Our investments focus on majority stakes in well-positioned medium-sized companies, particularly in succession situations, complex carve-outs and special situations. With over 20 years of experience, the Orlando team has successfully advised on more than 65 transactions, emphasizing trusting relationships and entrepreneurial partnerships with owners and sellers.