Climbing Hangar set to scale business peaks with further NVM investment
NVM Private Equity has invested a further £3m of growth capital into Liverpool-based indoor climbing business The Climbing Hangar (TCH), taking its total investment to £6m.
The investment comes as the company completed its best ever trading year, achieving more than 150% revenue growth and announcing the opening of the fifth Hangar in South Liverpool.
The additional funds from NVM, which has a Manchester office, will facilitate the continued site roll-out and ongoing investment in infrastructure and personnel.
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 for a growing community of highly-engaged climbing enthusiasts and novices alike.
Since the initial investment by NVM in 2018, TCH has expanded to four locations with Hangar sites in Liverpool, London, Swansea and Plymouth, employing more than 85 people and welcoming in excess of 16,000 climbers through the doors every month.
All the sites offer a friendly, sociable atmosphere with climbers fuelled by locally-sourced food and drink from on-site cafés.
Alongside chief executive Ged MacDomhnaill and chairman Paul Gilbert, the business has added financial director, Hannah Heywood and operations director Rob Carlson to its executive ranks.
With indoor climbing set to make its debut at the 2020 Tokyo Olympic Games, interest in the market is expected to soar.
TCH hopes to cater for an anticipated generation of serial climbers by offering market-leading coaching and classes.
The company has long sponsored two times Bouldering World Champion, Shauna Coxsey, providing a platform for national and international publicity.
Founder, Ged MacDomhnaill, said: “These are amazing times to be growing a climbing business as the sport has so much to offer everyone, from social climbers to families, to the elite athlete.
“The journey would not be possible without NVM’s backing in both investment and cultural terms – they understand that growth in this sector is not just flags in maps, but creating something that connects people and brings value to their lives.
“That’s what has made the partnership with NVM so successful. More Hangars coming soon.”
NVM investment director, Liam May, said: “We have been hugely impressed by Ged and the rest of the team since our original investment.
“The company has developed a bold vision for indoor climbing and we’re delighted to be part of the journey.
“The business has delivered an exceptional performance in 2018 and 2019 and NVM are excited to support The Climbing Hangar as it continues to revolutionise the indoor climbing market.”
The investment was led for NVM by Liam May and Carmine Circelli.
The advisors to the transaction were, for NVM: Kieran Toal, James Skivington and Charlotte Hunt (Pinsent Masons). For The Climbing Hangar: Matt Noon and Elizabeth Jones (Hill Dickinson).
