Liverpool’s Climbing Hangar Successfully Repays £496k Loan to River Capital

Liverpool based indoor climbing specialist, The Climbing Hangar, has successfully repaid its £496,000 Flexible Growth Fund loan from River Capital, marking a significant milestone for the Sandhills headquartered business that has grown into a national success story.

The loan, originally provided through Metro Mayor Steve Rotheram’s Flexible Growth Fund and managed by River Capital was instrumental in supporting the company’s expansion during the challenging COVID-19 recovery period.

Since receiving the funding in 2020, The Climbing Hangar has continued to thrive, expanding from its original Liverpool roots to become a prominent player in the UK’s indoor climbing sector.

The company now operates 11 sites across the UK, employing 189 staff members and serving more than 22,000 members across the country with checkins exceeding more than 1,000,000 in 2024.

The original £496k investment enabled the opening of the new Matchworks Unit in Speke – the company’s fifth location – alongside a comprehensive renovation of the original Sandhills site. This expansion helped position the business for sustained growth following the pandemic’s impact on the leisure industry.

The successful loan repayment demonstrates The Climbing Hangar’s strong financial performance and its commitment to its stakeholders whilst the company has maintained its core mission of promoting inclusive climbing experiences for people of all ages, abilities, and fitness levels, creating what founder Ged Mac describes as social, challenging, supportive, progressive and fun environments.

The business model of combining fitness with social engagement has proven particularly resilient, with the company’s approach to making climbing accessible regardless of experience level driving strong membership growth and retention.

The 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. The fund forms part of Metro Mayor Steve Rotheram’s broader strategy to support local businesses and deliver sustainable economic growth across the region.

On the news that The Climbing Hangar had repaid its Flexible Growth Fund loan, 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 c£20m in investment with Verlinvest, which has positioned us strongly for the future.

We now operate 11 sites across the UK and 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. We’re grateful to have been able to repay this investment and demonstrate that local businesses, when given the right support, can achieve remarkable growth while staying true to their mission of making climbing accessible and enjoyable for everyone.

River Capital Investment Manager Jeff Cummins added:

“We are delighted to see The Climbing Hangar successfully repay their loan, which demonstrates the strength of their business model and the positive impact of the Flexible Growth Fund. 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. The Climbing Hangar has expanded to 11 sites nationwide, providing employment and promoting health and social connection across the country. Their success story exemplifies exactly what the Flexible Growth Fund was designed to achieve – supporting Liverpool City Region businesses to recover, expand and deliver long-term economic benefits.”