NVM confident of scaling new heights with investment in The Climbing Hangar .
6 August 2018
NVM Private Equity (NVM) has invested £3m of growth capital into leading indoor climbing business The Climbing Hangar (TCH). Indoor climbing is a growing sport that blends socialising with health and fitness and TCH aims to provide access to its superior facilities at an affordable cost, catering to a growing community of highly engaged climbing enthusiasts and novices alike. Since its successful launch in Liverpool in 2011, TCH has expanded to two further sites in London and Plymouth. The investment from NVM will allow the company to continue the roll-out, leading the market in providing an alternative leisure experience.
Founder and climbing enthusiast Ged MacDomhnaill formed TCH in 2010. Identifying the opportunity for a new fitness and leisure concept, TCH targets climbers and non-climbers looking for a sociable way to keep fit. Through events such as their UV climbing club night, TCH has established a recognisable brand in a fast growing and fragmented market.
TCH plans to use the investment from NVM to expand its reach across the UK as a leading indoor climbing brand, as well as diversifying the scope of its facilities into gyms, yoga and other specialist classes. All sites will offer quality food and beverages to create a more well-rounded leisure experience.
Interest in the market is expected to soar with the 2020 Olympic Games in Tokyo marking the introduction of indoor bouldering as an official Olympic sport. TCH hopes to cater to an anticipated generation of climbers by offering market-leading coaching and classes. The company has long sponsored Bouldering World Champion, Shauna Coxsey MBE, providing a platform for national and international publicity.
Founder of The Climbing Hangar, Ged Macdomhnaill, said: “I’m delighted to partner with NVM for delivering our vision of social climbing. They have taken the time to get under the skin of the business and understand how important our culture is for success. With the support they have shown so far, I’m confident this will be a brilliant venture.”
Liam May, Investment Director of NVM, said: “NVM is delighted to be backing Ged and his team in the roll-out of new sites nationwide. The Climbing Hangar has built a strong, vibrant and recognisable brand and is well placed to capitalise on the growth of bouldering and the alternative leisure market. The Climbing Hangar has some exciting plans for the future and NVM looks forward to supporting Ged and the team as the business continues to grow.”
Chairman of The Climbing Hangar, Paul Gilbert, said: “I am very excited to be working with NVM, Ged and his team, and I look forward to successfully exploiting the growth opportunities that we see in the UK indoor climbing market.”
NOTES TO EDITORS
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 firstname.lastname@example.org
- Liam May (NVM: Investment Director)– 0161 935 8081 email@example.com
- Ged Macdomhnaill (Climbing Hangar: Managing Director) 0779 277 2680 firstname.lastname@example.org
Download photos of: The Climbing Hangar – www.nvm.co.uk/PRphotos
NVM was provided with:
- Legal advice by Pinsent Masons (Kieran Toal and James Skivington)
- Financial due diligence by Dow Schofield Watts (Rob Mcarthy )
- Commercial due diligence by Drystone Strategy (Robin Illingworth and Chris Winslet)
- Insurance due diligence by AON (John Donald & Gordon Shaw)
The Climbing Hangar was provided with:
- Advice by Knight Corporate Finance (Sam Davies and David Middleton)
- Legal advice by Hill Dickinson LLP (Matt Noon, Corporate Partner assisted by Elizabeth Jones, Associate)
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing more than £300 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £12 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk