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22 Aug 2018
The Climbing Hangar secures £3m private equity investment
BY
Tom Walker
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TCH will use the funding from to expand its reach across the UK, as well as diversify by introducing gyms, yoga and other specialist classes
NVM Private Equity has invested £3m of growth capital into indoor climbing business The Climbing Hangar (TCH). Launched with a single location in Liverpool in 2011, TCH has since expanded to two further sites in London and Plymouth.
The investment from NVM will allow the company to continue the roll-out of the brand, which targets climbers and non-climbers looking for a sociable way to keep fit.
TCH will use the funding from NVM to expand its reach across the UK, as well as diversifying the scope of its facilities by introducing gyms, yoga and other specialist classes.
All sites will also be upgraded to offer "quality food and beverages" as part of a strategy to create a "more well-rounded leisure experience".
It is part of plans to tap into a growing market, as interest in climbing is expected to increase with the 2020 Olympic Games in Tokyo marking the introduction of indoor bouldering as an official Olympic sport.
According to TCH founder Ged Macdomhnaill, the company is looking to cater to a new generation of climbers by offering first class coaching mixed with "an alternative leisure experience".
“The NVM funding will help us deliver our vision of social climbing," Macdomhnaill said.
"It took the time to get under the skin of the business and understand how important our culture is for success. With the support it has shown so far, I’m confident this will be a brilliant venture.”
Liam May, Investment Director of NVM, said: “THC 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. ”
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