Red Bank-based PickleRage, an indoor pickleball club franchise, recently signed a deal with the private equity group, GreenPeak Venture Partners that will help the brand open 200 new PickleRage locations throughout the country over the course of the next two years.
“We are beyond thrilled to partner with PickleRage as we work with them on achieving their 2029 vision of opening over 500 locations,” Jared Feldman, managing principal at GreenPeak Venture Partners, said. “We couldn’t be more pleased with PickleRage’s progress thus far and are firmly committed to leveraging our resources to help them succeed.”
GreenPeak Venture Partners, which has more than $2 billion of assets under management, is a leading private equity firm focusing on the expansion and development of small and middle-market companies in various sectors. The partnership with PickleRage will allow for PickleRage franchisees to leverage GreenPeak’s institutional real estate knowledge of site selection, lease negotiation and construction management that will set them up for success as they embark on this next stage of outsized growth.
PickleRage has a player-first approach to indoor pickleball that already has players flocking to their clubs. It offers CushionX courts (the same used by professionals in the U.S. Open), LED lighting, online reservation & check-in systems and video-enabled courts to help players record and improve their game.
“This is an exciting milestone for PickleRage,” David Smith, chief operating officer at PickleRage, said. “As an avid pickleball player, I know that novice and pros alike will appreciate our state-of-the-art facilities. With GreenPeak’s support, we will be more equipped than ever to achieve our 2029 vision of opening 500+ clubs nationwide. We look forward to opening our clubs in new communities across the country as we begin this massive expansion effort.”
