Liverpool indoor climbing wall venture The Climbing Hangar repays loan of almost half a million pounds to River Capital as revenues grow to £10m amid expansion to 11 UK locations. Tony McDonough reports
Five years after securing a £496,000 loan Liverpool indoor climbing wall venture The Climbing Hangar has repaid the cash after seeing significant growth.
Launched in a warehouse close to Liverpool’s Sandhills Station in 2011, The Climbing Hangar now employs 189 people across 11 UK sites. Its most recent accounts for the 12 months to September 30, 2024, show a rise in revenues of almost 27% to £10m.
In early 2025 the company, founded by Ged Mac, secured £20m of investment from Verlinvest, a family investment vehicle with around £1.5bn of assets under management.
Back in 2020, the firm secured the £496,000 loan from Metro Mayor Steve Rotheram’s Flexible Growth Fund, managed by River Capital. This helped it defy the headwinds of COVID and continue its expansion.
This loan enabled the opening of the new Matchworks Unit in Speke – the company’s fifth location – alongside a comprehensive renovation of the original Sandhills site.
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.
“The Flexible Growth Fund support was crucial in helping us expand at a critical time, enabling us to open our Speke location and reinvest in our original Sandhills site.
“Since then, we’ve continued to grow significantly and secured £20m in investment with Verlinvest, which has positioned us strongly for the future. We are actively exploring potential international opportunities that could see The Climbing Hangar expand beyond the UK.
“None of this would have been possible without the initial support from Metro Mayor Steve Rotheram’s fund and the partnership with River Capital.”
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This repayment represents a successful outcome for the Flexible Growth Fund, which was designed to help Liverpool city region businesses recover and grow following the pandemic.
River Capital investment manager Jeff Cummins, added: “When we provided this £496,000 investment in 2020, the leisure sector was facing unprecedented challenges, but we recognised their potential to thrive.
“This successful outcome validates our investment in local businesses that create jobs and contribute to the community.”