A Liverpool-based leisure company whose facilities allow for people of all ages to get into shape via indoor climbing, has raised £4.0m to further develop its facilities and expand its venues.
The Climbing Hangar has raised funds from Mercia’s Northern Venture Capital Trust (VCT) Funds across three rounds of investment. The latest round of funding follows £6m of investment by the Northern VCTs to date, and will allow the company to further accelerate its expansion to new venues across the UK in the future.
The Climbing Hangar, which was founded in 2011, is a five-site, fast-growing chain of indoor climbing walls that is focused on growth through access, community and inclusivity. The company was founded by current CEO Ged MacDomhnaill, whose aim was to create a leisure centre that was the first to lower the price barrier for a sport that connects people across age, gender, race, education and income. Ged was wanted climbing to inspire people to happier, healthier more connected lives.
The company currently has five sites under its umbrella: two in Liverpool and one in London, Swansea and Plymouth respectively, with a site in Sheffield nearing completion. With c.110 employees currently working for The Climbing Hangar, the company will look to further build on the c.12,000 climbers that visit the centres each month (c.4,000 of which are currently members).
Ged, CEO of The Climbing Hangar said: “The investment is absolutely crucial, especially after the year we have had. Mercia has had the confidence in us and the business in these incredibly challenging times to continue to invest in growth. Our team are incredibly excited by this vote of confidence, and this underpins the kind of relationship we have had with Mercia. With this investment we hope to double the size of the company within 18 months and build another five centres in that time.”
Lee Lindley, Investment Associate at Mercia added: “We’re delighted to be able to provide further investment into The Climbing Hangar as they continue to expand the business across the UK. Ged and the team have developed the country’s best climbing experience for novice and experienced climbers alike, and this investment will allow the company to double its number of sites over the next few years.”
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