Rcapital backs MBO of AirHop trampoline group
Rcapital has backed the management buy-out of AirHop trampoline group from its founder investors.
AirHop is a market leading group of trampoline parks, headquartered at its well-established Bristol park – the largest trampoline park in Europe – with additional parks in Guildford, Essen, Dusseldorf and Munich. Since it opened its first park in 2014, it has grown rapidly and today employs 310 people in the UK and Germany and has over 800,000 customers each year.
Rcapital will work with the management team of the business to facilitate future growth and has provided a significant funding package to support expansion of the estate and investment in the existing parks.
Darren Hedges, CEO of AirHop, said: “we have been looking for an investor to support the management team in growing the business for some time and are pleased to have found an investor that shares our ambitious expansion plans. Today’s announcement marks an exciting new era for the business, its employees and customers”.
Chris Campbell, investment director at Rcapital, said: “the European trampoline park sector is at an interesting crossroads, against a backdrop of issues which makes the fragmented sector ripe for consolidation. We see AirHop as the ideal platform to pursue a buy and build strategy and we will actively be looking at acquisition opportunities across the UK. We would welcome any operators looking for an exit to get in touch”.
Rcapital were advised on the transaction by Osborne Clarke and PHD Property Advisory, with FRP Advisory, Eversheds Sutherland and Harrison Clark Rickerbys advising management and lenders.