Selkirk Secures $30 Million in Funding for Accelerated Expansion

Selkirk is making moves this week as it looks to strengthen its stronghold on pickleball equipment with $30 million in funding from Bluestone Equity Partners. The investment values the company at $200 million and will help accelerate product innovation, omnichannel expansion, and targeted growth in Asia. 

The investment comes at a pivotal time when the industry is growing in the U.S. and beyond. Pickleball is still the fastest growing sport in the US with growth expected to continue as communities invest in the sport, with a 55% year-over-year increase in the number of dedicated facilities and a 23% increase in total courts in 2024 alone, according to the Sports & Fitness Industry Association. Selkirk is looking to continue expanding within the U.S. market and beyond to grow market share.

Founded in 2014, Selkirk is family owned and still run by the Barnes family. Last year they decided to seek capital to meet their expansion goals and continue to improve the equipment technology. This led them to seek out one group to take a minority stake to ensure they still control the company.

“With Bluestone’s partnership, we’re set to accelerate innovation, distribution, and global brand reach,” added Co-Founder & CEO Rob Barnes. “We’re exceptionally well positioned to serve a global player base as markets such as India, Malaysia, Vietnam, and the Philippines develop. As pickleball goes global, we have exciting plans, including next-gen paddles, a new line of quiet pickleballs, and reimagined footwear. Our commitment to innovation and performance remains central to our strategy.”

Selkirk marks the ninth investment for Bluestone from its inaugural $300 million fund. While Selkirk is its first pickleball investment, they will make other investments in the sport that complement Selkirk.

“One of the premier equipment manufacturers in any sport, Selkirk is the category leader in the well-established and still rapidly scaling sport of pickleball, and a very synergistic addition to the Bluestone portfolio” said Bobby Sharma, Bluestone Founder & Managing Partner. “Since 2019, the number of adults playing pickleball in the U.S. has increased sixfold, now numbering in the tens of millions, achieving true mass participation. As growth-focused, value-added investors, we look forward to partnering with Selkirk’s management team to support both organic and inorganic expansion, including targeted international growth in Asia and opportunistic M&A in the fragmented equipment market in the U.S.”