Key Takeaways
- • Bluestone Equity Partners, a New York-based private equity firm focused on Sports, Media & Entertainment, made a strategic investment in Selkirk Sport, the leading pickleball equipment manufacturer, per a Business Wire release.
- • Selkirk marks the ninth investment from Bluestone's inaugural $300 million fund, which held a single closing in Q1 2023, and is Selkirk's first external investment.
- • Bluestone cites U.S. adult pickleball participation rising roughly sixfold from 2019 to 2024, with facilities up 55% and courts up 23% year-over-year in 2024 per the Sports & Fitness Industry Association.
- • Selkirk reports total revenue growth of approximately 1,900% since 2019 through the end of 2025, according to the release.
- • Bobby Sharma will lead Bluestone's plans for international growth in Asia and opportunistic M&A in the fragmented U.S. equipment market, with Walker Brumskine joining Selkirk's board.
Summary
Bluestone Equity Partners ("Bluestone"), a New York City-headquartered private equity firm focused on the global Sports, Media & Entertainment industry, announced a strategic investment in Selkirk Sport ("Selkirk"), a pickleball equipment and sportswear manufacturer, according to a Business Wire release. The release does not disclose the investment amount. Selkirk marks the first external investment in the company and the ninth from Bluestone's inaugural $300 million fund, which closed in a single closing in the first quarter of 2023.
Selkirk was founded in 2014 by brothers Rob and Mike Barnes and their father Jim, and is based in Hayden, Idaho. The company is family-owned and operated. The release credits Selkirk with pioneering industry standards, including the first limited lifetime warranty in the category and the 16mm paddle core. Its product line includes the SLK by Selkirk value brand, an exclusive long-term partnership with Costco, Selkirk Pickleball TV, the CourtStrike mainline court shoe line, and the Tesla Plaid Paddle developed with Tesla Inc.'s engineering team. The company reports total revenue growth of approximately 1,900% through the end of 2025 since 2019.
Bluestone cites market data from the Sports & Fitness Industry Association showing a 55% year-over-year increase in dedicated pickleball facilities and a 23% increase in total courts in 2024. Sharma said U.S. adult participation has increased sixfold since 2019, now numbering in the tens of millions. Bluestone plans to support organic and inorganic expansion, including targeted growth in Asia and opportunistic acquisitions in the fragmented U.S. equipment market.
Co-CEOs Rob and Mike Barnes said the partnership will accelerate innovation, distribution, and global brand reach. Selkirk cited a brand ambassador program with more than 1,300 advocates across the U.S. and plans for next-generation paddles, a quiet pickleball line, and reimagined footwear, with expansion targets including India, Malaysia, Vietnam, and the Philippines. As part of the transaction, Bluestone's Walker Brumskine will join Selkirk's board of directors, and Shaaz Khan will join as a board observer.
Selkirk was founded in 2014 by brothers Rob and Mike Barnes and their father Jim, and is based in Hayden, Idaho. The company is family-owned and operated. The release credits Selkirk with pioneering industry standards, including the first limited lifetime warranty in the category and the 16mm paddle core. Its product line includes the SLK by Selkirk value brand, an exclusive long-term partnership with Costco, Selkirk Pickleball TV, the CourtStrike mainline court shoe line, and the Tesla Plaid Paddle developed with Tesla Inc.'s engineering team. The company reports total revenue growth of approximately 1,900% through the end of 2025 since 2019.
Bluestone cites market data from the Sports & Fitness Industry Association showing a 55% year-over-year increase in dedicated pickleball facilities and a 23% increase in total courts in 2024. Sharma said U.S. adult participation has increased sixfold since 2019, now numbering in the tens of millions. Bluestone plans to support organic and inorganic expansion, including targeted growth in Asia and opportunistic acquisitions in the fragmented U.S. equipment market.
Co-CEOs Rob and Mike Barnes said the partnership will accelerate innovation, distribution, and global brand reach. Selkirk cited a brand ambassador program with more than 1,300 advocates across the U.S. and plans for next-generation paddles, a quiet pickleball line, and reimagined footwear, with expansion targets including India, Malaysia, Vietnam, and the Philippines. As part of the transaction, Bluestone's Walker Brumskine will join Selkirk's board of directors, and Shaaz Khan will join as a board observer.
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