“They instantly shared my vision for the potential of this business and have worked hard to get us into the best shape possible to attract buyer that would take us from strength to strength.”
Darren Hedges, CEO of AirHop
AirHop is a market leading group of trampoline parks, headquartered at its well-established Bristol park – the largest trampoline park in Europe.
In October 2020 Rcapital completed the sale of the AirHop UK business, to European market leader Rush Trampoline Parks. The deal marks the end of a two-year tenure with a successful restructuring and turnaround of the AirHop business and follows a sale of the AirHop Germany business to the same buyer in January 2020.
Following pressures of a highly fragmented, competitive market and record-breaking adverse weather conditions in 2018, AirHop initiated a search for an investment partner that could act quickly to support a liquidity crisis and share their vision for growth.
Rcapital completed a successful refinance of and management buyout of the AirHop business, which included parks in Essen, Dusseldorf, Munich, Bristol and Guildford – with over 300 employees and 800,000 customers per year.
– Appointed independent Chairman to drive turnaround
– Restructured business to create two stand-alone businesses, AirHop Germany and AirHop UK
– Completed a complex, international, solvent business and assets transaction
– Reduced costs and streamlined operations
– Invested in equipment to improve customer experience
– Renegotiated leases
– Initiated development of new bigger site in Guildford
– Created attractive platform for growth
– Sourced strategic buyer to bring investment
– Strong cultural fit with new owner
“Rcapital have been a first-class backer, investing at a time when others wouldn’t. They instantly shared my vision for the potential of this business and have worked hard to get us into the best shape possible to attract buyer that would take us from strength to strength.’ Darren Hedges, MD, AirHop
‘The working relationship with Darren and the team at AirHop has been fantastic from the get-go. The progress we have made in a relatively short period has been significant – and I’m proud that, despite the fallout from Coronavirus, we have secured a great return and future owner in Rush to support their expansion plans. I wish them every success for the future.” Chris Campbell, Partner, Rcapital