We advise Mercia on expansion of The Climbing Hangar
The Climbing Hangar is a Liverpool-based leisure company whose facilities allow for people of all ages to get into shape via indoor climbing. The £4m investment will help to further develop its facilities and accelerate its expansion to new venues across the UK in the future.
The company was founded by current CEO Ged MacDomhnaill, whose aim was to create a leisure centre that was the first to lower the price barrier for a sport that connects people across age, gender, race, education and income. It is a six-site, fast-growing chain of indoor climbing walls that is focused on growth through access, community, and inclusivity.
Graham Dotchin, our Associate Partner and Head of Data Insight, said:
“Being climbers ourselves, it was great to do a deep dive into the data of an industry we are passionate about. We worked with The Climbing Hangar team to calculate and assess its key metrics like ‘Customer Lifetime Value’ which are essential for investment decisions in businesses like this.
The Climbing Hangar demonstrated strong historic customer retention and a strong return of members post pandemic, indicating the quality of their gyms and the sustainability of their business model, which will ultimately help them to continue to grow and flourish.”
Lee Humble, our Corporate Finance Associate Partner, said:
“The MHA Tait Walker team have a long-standing relationship with Mercia and are delighted to support them with another transaction.
It’s great to see support on such a scale for a superb business in a sector which has faced inevitable challenges because of covid19 and the subsequent lockdowns and Mercia’s continued support is great to see. With multiple funds under management, we have found the Mercia team to be a dynamic funding partner with appetite to invest.”
Lee Lindley, Investment Associate at Mercia added:
“We’re delighted to be able to provide further investment into The Climbing Hangar as they continue to expand the business across the UK. Ged and the team have developed the country’s best climbing experience for novice and experienced climbers alike, and this investment will allow the company to double its number of sites over the next few years.”