According to SGI USA, Fromuth Racquet Sports, a Pennsylvania-based racquet sports wholesaler and retailer, has reached an agreement to acquire e-tailer Tennis-Point on undisclosed terms to expand into the tennis e-commerce space. Tennis-Point will initially operate as an independent company and will retain the same name and contact details. All Tennis-Point management and employees will remain in their current roles, with Patrick Shields Jr. as President, Pat Shields Sr. as CEO and Greg Wolf as a consultant to ensure a seamless transition.
Founded in Germany in 1998 by Christian Miele and Thomas Welle, Tennis-Point was acquired by Signa Sports United (SSU) in 2021, but after a capital commitment from parent company Signa Holding GmbH was unexpectedly canceled, Tennis-Point GmbH filed for insolvency in October 2023 and Signa sold the Tennis-Point Group to a consortium of investors led by Orlando Capital V, which also included Tennis-Point CEO and company founder Miele and other entrepreneurs, in February 2024. As part of a combination of asset and share deals, all assets of the German Tennis-Point GmbH, the shares in the European sales companies and the business operations in the USA were acquired, which, in FY 2023, all together generated annual sales of over €190 million.
