London, 15 December 2016:
Private equity fund manager and Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist Calculus Capital has invested £3m in UK trampoline park company Jumptastic as it plans to expand into Scandinavia.
Jumptastic’s highly successful first park opened in Gloucester in 2015, offering 90 interlinked trampolines over 30,000 square feet. The park attracted more than 140,000 visitors in its first 12 months.
In addition to UK growth plans, the company has identified Scandinavia as a key expansion target. It is a region in which the management team – Directors Andy West and Paul Monaghan and CEO Lee Myall – have previous experience and where they believe the market has significant growth potential.
In early 2017 Jumptastic will open its first Scandinavian facility in Denmark, which currently has no trampoline parks. Five other suitable sites have been identified across Scandinavia and negotiations have begun. Jumptastic is aiming to have ten trampoline parks across the UK and Europe by 2020.
John Glencross, Calculus Capital’s Chief Executive, said: “Trampoline parks are a relatively new attraction in the UK but the activity has quickly established itself. A number of parks are already open and more are expected. The activity is already well established in the US where more than 350 parks have opened, welcoming visitors of all ages for parties, fitness training and classes.
“Jumptastic has all the hallmarks we look for in an investment; it is profitable, scalable and operating in a market with huge growth potential. We favour its strong management team, attractive margins and excellent overall business model.
“The plan to expand into Scandinavia shows real vision and ambition on the part of Jumptastic’s management, combined with in-depth market research and a highly considered and detailed approach that gives us utmost confidence in its success.”
Lee Myall, CEO of Jumptastic, said: “Having Calculus Capital as an investor will be a great asset to us as we embark on our expansion plans. The funding is, of course, a major part of that, but Calculus’s experience, contacts network and advice will also prove extremely valuable to us as we grow.”
Jumptastic was advised by Assay Corporate Finance.