Bluestone Equity Partners, a global private equity firm focused on the sports, media and entertainment industry, announced on Tuesday a $30 million growth equity investment in Selkirk Sport in a deal that values the leading pickleball equipment manufacturer and innovator at approximately $200 million.

According to Forbes, it marks the first time Selkirk has taken any outside investment.

Founded in 2014 by brothers Rob and Mike Barnes, and their father Jim, Selkirk has pioneered several pickleball industry standards, including the first limited lifetime warranty in the category and the 16mm paddle core.

Since 2019, Selkirk has delivered significant multi-year growth, with total revenue increasing approximately 1,900% through the end of 2025. Selkirk has expanded its reach by launching the SLK by Selkirk brand, which offers high-quality pickleball gear at more accessible price points, an exclusive, long-term partnership with Costco, and  Selkirk Pickleball TV, the sport’s first free TV app.

Recent innovations include the Project Boomstik, featuring new patent-pending technology that has made it one of the most sought-after paddles in the sport, the CourtStrike series, Selkirk’s first mainline court shoe line, and the Tesla Plaid Paddle by Selkirk, a collaboration with Tesla Inc.’s automotive engineering team.

“One of the premier equipment manufacturers in any sport, Selkirk is the category leader in the well-established and still rapidly scaling sport of pickleball, and a very synergistic addition to the Bluestone portfolio” said Bobby Sharma, Bluestone Founder & Managing Partner, in a press release on Tuesday. “Since 2019, the number of adults playing pickleball in the U.S. has increased sixfold, now numbering in the tens of millions, achieving true mass participation. As growth-focused, value-added investors, we look forward to partnering with Selkirk’s management team to support both organic and inorganic expansion, including targeted international growth in Asia and opportunistic M&A in the fragmented equipment market in the U.S.”

“Selkirk has built a powerful and focused pickleball platform that is ideally positioned as the sport continues to gain momentum in the U.S. and beyond,” said Selkirk Co-Founder & Co-CEO Mike Barnes. “As a leader in the sport, we’ve built a cutting-edge retail and direct-to-consumer distribution channel, supported by investments in content platforms like Selkirk Pickleball TV, a brand ambassador program with more than 1,300 advocates across the U.S. and sponsorships of elite and emerging pickleball pros.”

“With Bluestone’s partnership, we’re set to accelerate innovation, distribution, and global brand reach,” added Selkirk Co-Founder & CEO Rob Barnes. “We’re exceptionally well positioned to serve a global player base as markets such as India, Malaysia, Vietnam, and the Philippines develop. As pickleball goes global, we have exciting plans, including next-gen paddles, a new line of quiet pickleballs, and reimagined footwear. Our commitment to innovation and performance remains central to our strategy.”

Selkirk marks the ninth investment for Bluestone from its inaugural $300 million fund.