NVM Private Equity (NVM) has invested GBP3 million of growth capital into 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, says: “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, says: “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 TCH, Paul Gilbert, says: “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.”
