Apollo buys 30% of Tradeinn from Suma Capital for 200 million

The online trading platform Tradeinn has signed a new partner that will support its growth over the coming years. The American fund Apollo Funds has purchased 30% of the Girona-based company from the Barcelona-based fund Suma Capital.

The transaction price is confidential, but sources familiar with the matter tell this newspaper that the transaction was closed for more than €200 million. This would value the sports goods e-commerce platform at more than €700 million, approaching the unicorn valuation of €1 billion.

The operation has been closed after more than a year of negotiations, during which the French group Decathlon showed interest.

The deal was closed after more than a year of negotiations, during which the French group Decathlon expressed interest. The New York-based Apollo fund took the final step. It has not yet finalized its plans for the Celrà-based company, but David Martín, its founder and CEO, is very satisfied. "We are delighted with this new partner who will support our plans to become an even bigger leader in online sports sales," comments the businessman, who maintains his stake and position at the head of the company.

Tradeinn expects to generate revenue of approximately €600 million this year, consolidating the exponential growth it has experienced for years. Last year, it generated revenue of €554 million, 85% of which was generated abroad. The platform offers more than 12,500 brands related to all types of sports, such as cycling and hiking.

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With this transaction, the Suma Capital fund, led by Enrique Tombas, also closes a ten-year stint at the company. It joined in 2015 and has helped the company increase its turnover more than tenfold.