--- title: "Acenta Group: Executing on the Swedish overestablishment | Kalqyl" description: "We are initiating coverage of Acenta Group, an international full-service provider within the padel industry. The company’s operations include sales, installati" lang: sv json-ld: --- [![Kalqyl](/assets/kalqyl-logo-DNDwZ-oh.png)](/) [Analyser](/analyser)[Våra bolag](/bolag)[VD-intervjuer](/vd-intervjuer)[Om Kalqyl](/om-oss) [𝕏 ](https://x.com/kalqyl "Följ oss på X") [Kontakt](/om-oss) [Alla analyser](/analyser) ![Acenta Group: Executing on the Swedish overestablishment](https://ilnynstosvnspbjavvmh.supabase.co/storage/v1/object/public/media/companies/acenta-cover-v2.png) # Acenta Group: Executing on the Swedish overestablishment [Analys](/analyser)· 8 september 2025 · [![Albin Eriksson](https://ilnynstosvnspbjavvmh.supabase.co/storage/v1/object/public/media/analysts/albin-eriksson.png)Albin Eriksson ](/analytiker/albin-eriksson) [Acenta](/bolag/acenta)Öppna PDF We are initiating coverage of Acenta Group, an international full-service provider within the padel industry. The company’s operations include sales, installation, customization, and ongoing service of padel courts. In addition, the company operates the e-commerce platform Sport of Padel, its own padel brand Peliga, and organizes the tournament Acenta Padel Tour. Acenta is building an integrated padel ecosystem to increase customer loyalty and drive scalable growth. The company primarily targets growth markets such as the United Kingdom, Ireland, and Germany. ## Capitalizing on overestablishment in Sweden Acenta acquires second-hand padel courts from facilities that were excessively established during the pandemic. These used courts are refurbished, sold, and subsequently installed in growth markets such as the United Kingdom and Ireland. Strong demand in growth markets has led Acenta to broaden its offering to also include new padel courts. Through either direct purchase or leasing agreements, Acenta sells padel courts and related solutions globally. ## A misunderstood company – in our view Demand for Acenta’s offering currently exceeds the company’s delivery capacity. Our assessment is that the biggest challenge ahead lies in access to working capital, as the company’s business model and leasing arrangements tie up capital. In our assumptions, we have based our outlook on the company being able to free up resources to accelerate its growth through new loans, factoring, and potentially other financing solutions. In Q1, net sales amounted to SEK 7.0 million, which indicates that the company is well on its way to achieving its financial targets. Acenta is often associated with the mature Swedish market, but we believe the growth potential in international markets is misunderstood. ## Outlook Acenta’s major challenge is to free up sufficient working capital to finance the build-up of inventory. The inventory is turned over quickly in the business given the current high demand. We believe the company has the potential to deliver on its financial targets if it succeeds in freeing up sufficient working capital. International expansion is progressing with ongoing projects in Ireland and the recently announced agreement in the United Kingdom. In the long term, we believe Acenta will strengthen its brand in the international market, which will also create growth opportunities in the rest of its product portfolio. In our base case, we see a fair value of SEK 17.8 on 2027E, which represents an upside of 77.1 percent. [ Öppna fullständig analys (PDF) Öppnas direkt på sajten ](https://www.kalqyl.se/wp-content/uploads/2025/09/Acenta-Group-Initial-Take-English.pdf) Tyckte du analysen var intressant? Dela med andra investerare. Dela [](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fkalqyl.lovable.app%2Fanalyser%2Facenta-group-executing-on-the-swedish-overestablishment)[](https://twitter.com/intent/tweet?text=Acenta%20Group%3A%20Executing%20on%20the%20Swedish%20overestablishment&url=https%3A%2F%2Fkalqyl.lovable.app%2Fanalyser%2Facenta-group-executing-on-the-swedish-overestablishment)[](mailto:?subject=Acenta%20Group%3A%20Executing%20on%20the%20Swedish%20overestablishment&body=We%20are%20initiating%20coverage%20of%20Acenta%20Group%2C%20an%20international%20full-service%20provider%20within%20the%20padel%20industry.%20The%20company%E2%80%99s%20operations%20include%20sales%2C%20installation%2C%20customization%2C%20and%20ongoing%20service%20of%20padel%20courts.%20In%20addition%2C%20the%20company%20operates%20the%20e-commerce%20platform%20Sport%20%0A%0Ahttps%3A%2F%2Fkalqyl.lovable.app%2Fanalyser%2Facenta-group-executing-on-the-swedish-overestablishment) Har du frågor om analysen? Hör av dig direkt till Albin Eriksson – svar inom kort. [Ställ en fråga till Albin](mailto:albin@kalqyl.se?subject=Fr%C3%A5ga%20om%20analysen%3A%20Acenta%20Group%3A%20Executing%20on%20the%20Swedish%20overestablishment&body=Hej%20Albin%2C%0A%0AJag%20har%20en%20fr%C3%A5ga%20om%20analysen%20%22Acenta%20Group%3A%20Executing%20on%20the%20Swedish%20overestablishment%22%3A%0A%0A%0A%0AMed%20v%C3%A4nlig%20h%C3%A4lsning%2C%0A) Analytiker [ ![Albin Eriksson](https://ilnynstosvnspbjavvmh.supabase.co/storage/v1/object/public/media/analysts/albin-eriksson.png) ](/analytiker/albin-eriksson) [ ### Albin Eriksson Analytiker, Kalqyl Albin har en master i finans och tidigare erfarenhet från köpsidan. Han drivs av att hitta bolag som marknaden missförstår och viljan att alltid ligga steget före andra. På fritiden gillar han sport, matupplevelser och kall öl. Den i teamet som uppskattar natur, bottenfärg och skog mest av alla. ](/analytiker/albin-eriksson) [](/analytiker/albin-eriksson)[X: gnuinvestor](https://x.com/gnuinvestor)[albin@kalqyl.se ](mailto:albin@kalqyl.se)070-306 90 94 [LinkedIn](https://www.linkedin.com/in/albin-eriksson-40187b236/) ### Få nästa analys direkt i mailen Prenumerera på Kalqyls nyhetsbrev — nya analyser, VD-intervjuer och bolagsuppdateringar samlat på ett ställe. Prenumerera Vi delar aldrig din e-post. Avsluta när du vill. Läs också ## Fler analyser [Alla analyser](/analyser) [ ![Acenta Group: Quarterly update Q2'26](https://ilnynstosvnspbjavvmh.supabase.co/storage/v1/render/image/public/media/companies/acenta-cover-v2.png?width=480&quality=70&resize=cover) Acenta ### Acenta Group: Quarterly update Q2'26 26 aug. 2026 ](/analyser/acenta-group-quarterly-update-q2-26)[ ![Acenta Group: Rapportkommentar Q1'26](https://ilnynstosvnspbjavvmh.supabase.co/storage/v1/render/image/public/media/companies/acenta-cover-v2.png?width=480&quality=70&resize=cover) Acenta ### Acenta Group: Rapportkommentar Q1'26 4 juni 2026 ](/analyser/acenta-group-rapportkommentar-q1-26)[ ![Acenta Group: Quarterly update Q1'26](https://ilnynstosvnspbjavvmh.supabase.co/storage/v1/render/image/public/media/companies/acenta-cover-v2.png?width=480&quality=70&resize=cover) Acenta ### Acenta Group: Quarterly update Q1'26 4 juni 2026 ](/analyser/acenta-group-quarterly-update-q1-26) ### Följ Kalqyl Få våra senaste analyser och uppdateringar direkt i ditt flöde. 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