Liverpool indoor climbing wall venture The Climbing Hangar reveals annual pre-tax losses of £2.7m but says a £20m venture capital investment provides a war chest for further acquisitions. Tony McDonough reports
Annual pre-tax losses at Liverpool indoor climbing wall venture The Climbing Hangar have widened to £2.7m from £1.4m in the previous year – but the business will push on with its growth strategy.
Launched in a warehouse close to Liverpool’s Sandhills Station in 2011, The Climbing Hangar now employs more than 200 people across 11 UK sites, including two in Liverpool with others in England, including London, Scotland and Wales.
Accounts for the 12 months to September 30, 2025, posted on Companies House, show a 4% increase in revenues to £10.4m. The company acquired two new sites during the period and net assets have increased from £2.1m to £9.2m.
During the year Belgian venture capital investor Verlinvest, which has around £1.5bn funds under management, acquired a controlling stake in The Climbing Hangar with a £20m investment.
This allowed the venture to repay a £496,000 loan it had secured in 2020 from city region Mayor Steve Rotheram’s Flexible Growth Fund, which is managed by River Capital.
This loan enabled the opening of the new Matchworks Unit in Garston – the company’s fifth location at that time – alongside a comprehensive renovation of the original Sandhills site. The Garston outlet also includes a branch of Bold Street Coffee.
Speaking last year Climbing Hangar founder and chief executive Ged Mac said: “Repaying this loan to River Capital is a proud moment for us and reflects how far we’ve come since those challenging pandemic years.”
Writing in the latest annual report, Ged said the financial year had been “a year of significant transition”. He added: “We successfully opened two new sites, reinforcing our commitment to expanding our presence in the UK climbing market.
“The successful completion of a major fundraising round with Verlinvest has strengthened our capital position and provided resources to support our strategic objectives.
“This partnership will enable us to selectively expand our footprint through new site openings and acquisitions, enhance operational efficiency to mitigate rising employment costs and deepen engagement with our brand and the climbing community.”
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Ged also said the company had to balance its growth ambitions with “prudent financial management”. He pointed out how Government policies had led to increased employment costs in a period of subdued economic growth.
“We will continue to monitor economic developments closely and adapt our plans to ensure sustainable progress,” he said.