Sandhills-based, The Climbing Hangar, has received a £496,000 loan as part of Metro Mayor Steve Rotheram’s Flexible Growth Fund – powered by Growth Platform, managed by MSIF’s fund manager subsidiary, Alliance Fund Managers (AFM).
Since opening in 2011, the popular indoor rock climbing venue has been a growing hit for the city, and nationally, with five sites based across the UK employing over 100 members of staff.
Boasting half a million visits annually, The Climbing Hangar has a passionate approach towards the impact that a social, challenging, supportive, progressive and fun activity can have on people’s lives, regardless of ability, age or fitness – advocating an inclusive environment for all.
The additional £496k of capital supports the opening of the new Matchworks Unit, which is the fifth site and is based locally in Speke, alongside this a full renovation of the Sandhills site has been completed, ready for the re-start of the business, following lock-down restrictions earlier in the year.
The £20 million Flexible Growth Fund is part of the Liverpool City Region Metro Mayor’s £75 million business growth package, which can support the local business community to recover, grow and create jobs from the impacts of the COVID-19 pandemic. The funds are part of the Mayor’s long-term plan to deliver growth and to help the city region Build Back Better.
Ged Mac, Founder and Director of The Climbing Hangar commented on the investment: “The FGF funding is an amazing opportunity to continue investing back into Liverpool, the city and people that nurtured and grew our now national company. Schemes like this allow us to invest for the long term creating attractive facilities and jobs to help continue to make our city a great place to live and work. So proud to continue to invest in growth back where it all started.”
Jeff Cummins, MSIF Investment Manager added: “We are delighted to continue to support businesses through the Flexible Growth Fund. Now is a crucial time to back local business to ensure recovery, and growth. The opening of the new site will create and preserve more jobs for the Climbing Hangar team. It has been a pleasure to work with Ged and the Liverpool City Region Growth Platform to bring the investment to fruition.”
Councillor Pat Hackett, Portfolio Holder for Inclusive Economy and Third Sector, said: “In difficult times this is a very positive announcement and I am very pleased that we are seeing the Flexible Growth Fund do what it is designed to do – invest in ambitious local businesses to create growth and jobs. The Fund is an important part of our plans to support long-term growth for our city region as we begin the long process of building back better from this terrible pandemic.”