Tamweel… climbing high!!
(From left to right: Tamweel’s Ben Merrifield, Ali Aneizi and Adam Spencer)
Tamweel is pleased to announce its latest deal, a multi-million pound funding round for The Climbing Hangar, the UK’s leading indoor climbing operator whose walls are scaled by over 12,000 climbers each month. Think competitive socialising, exercise and a sprinkling of hospitality all rolled in to one.
The Climbing Hangar was established in a Liverpudlian warehouse in 2011. Since then it has grown to an estate that spans the length and breadth of England. Indoor climbing is one of the UK’s fastest growing lifestyle sports and with a site opening soon in Sheffield and a growing pipeline of new venues The Climbing Hangar shows no signs of reaching its peak (groan).
Tamweel advised the management team on negotiating the terms of the transaction and supported them in getting the deal over the line alongside incumbent investor Mercia.
Ged MacDohmnaill, Founder and CEO of The Climbing Hangar, commented: “It’s incredibly exciting that we get to accelerate our growth journey with Mercia as indoor climbing has come into the Olympic limelight. I’m proud that The Climbing Hangar team has delivered excellent results and our customers have shown they’ve lost none of the love for our community throughout this difficult Covid period. Tamweel not only did a great job in helping us close a crucial deal in uncertain times but did so by strengthening the relationship between The Climbing Hangar and Mercia, helping us come out of the blocks fast and get growing.”
Adam Spencer at Tamweel says: “As Sport Climbing makes its debut at the Tokyo Olympics, this injection of capital comes at the perfect time. Taking advantage of the increased exposure, the follow on funding provided by Mercia will allow Ged and his first class team to bring this hugely fun sport to many more people across the UK.”