Leisure business in new hands following deal with Belgian investment firm

Belgian investment firm, Verlinvest, has swooped to acquire The Climbing Hangar (TCH) – which was founded in Liverpool in 2011 and has expanded nationally – for an undisclosed sum. 

TCH operates nine indoor climbing centres across the UK with more than 10,000 monthly members. It is on a mission to get as many people as possible, with different experience levels, into the sport of climbing.

It specialises in bouldering – the simplest, most dynamic and fastest growing discipline of climbing.

The Climbing Hangar’s management will remain in the business and will spearhead strategic buy-and-build during the course of their partnership with Verlinvest.

Law firm Browne Jacobson advised Mercia Fund Management and the management shareholders of TCH on its sale to Verlinvest.

Mercia Fund Management is a specialist asset manager with a focus on ambitious businesses seeking venture, private equity or debt finance to scale their businesses.

The Browne Jacobson team was led by partner, James Skivington, and included associates Bethany Grummitt, Olivia Barrow and Alex O’Donoughue. Senior associate, Craig Thomas, advised on tax matters, with associate Owen Jenkins advising on employment matters.

James Skivington said: “We’re thrilled to have advised Mercia and the management shareholders – both on the sale and management’s reinvestment – on this transaction. We wish management and Verlinvest all the best with their new partnership and look forward to supporting them with their buy and build strategy going forward.”

Martijn Kleibergen, Investor at Mercia Ventures, said: “James and his team have been indispensable in driving this transaction through to completion.”

Ged Mac, CEO of The Climbing Hangar, said: “James and the team at BJ were indispensable at every stage of the deal.”