Oxygen Freejumping, the largest trampoline park operator in the UK, has received £10 million of funding from Beechbrook Capital and existing investors, to open a further seven sites during the summer of 2016.
The deal demonstrates Oxygen’s position as the undisputed market leader within the fast growing trampoline park sector, and will strengthen the company’s aim to open 30 parks within two years.
This latest round of funding comes on the back of a landmark deal with Lucozade Powerleague, to acquire five new sites in total, comprising 162,000 sq ft of trampoline parks throughout the UK. The new sites, which are located in Derby, Wigan, Blackburn, North Shields and Trafford Park, Manchester, will all be operational by the end of the Summer, delivering Oxygen’s unique blend of Freejumping, gymnastics & parkour coaching, parties, and fitness classes. Oxygen Freejumping opened its first park in West Acton last summer and Southampton in December.
The company is spearheaded by leisure innovators Fred Turok as Chairman and David Stalker as CEO. Fred Turok comments, “There were a number of offers on the table, through our advisors Zeus Capital and we are delighted that Beechbrook is investing £8 million in this stage of our development. This is a fast paced and exciting leisure market, similar to the growth of the health and fitness sector a few years back. Our existing backers and Beechbrook recognise that we have a very experienced management team, a high quality product and an exceptional health and safety record.”
David Stalker comments, “This is the largest investment within our sector and will allow us to bring our blend of freejumping, freerunning, fitness and fun to seven new areas of the country. We have two further sites in solicitors hands and through our advisors JLL, are looking for sites nationwide. Landlords are beginning to recognise that we are the premium operator in the market, capable of transforming a leisure or retail park, and we are on target to open 30 trampoline parks by the end of 2017.
“West Acton is 30% ahead of expected targets within six months. We have made ourselves at home in the local community and regularly partner with schools & local community groups to deliver classes, holiday camps and much more. We feel confident of repeating this success elsewhere, creating a successful rollout and having a positive impact on the health and happiness of our local communities.”
Jon Herbert, Managing Director of the UK SME Fund at Beechbrook Capital comments, “Our investment in Oxygen is the first in our newly-launched UK SME Credit Fund, and is a fantastic example of the type of business we are looking to support thanks to the strength of the management team, the quality of the Oxygen offering and the performance of the business to date.
“It was a pleasure completing this deal with the team at Oxygen and we are looking forward to supporting the business as it continues its nationwide rollout plan and establishes itself as the leading brand in this exciting market.”
John Goold, CEO Zeus Capital comments, ”I am delighted that our family office team at Zeus Capital led by Hugo Chance, have been able to help Oxygen raise its next round of financing. Oxygen is a very exciting business in a fast expanding market and we look forward to helping them with their further growth.”
The highly experienced Oxygen Freejumping team includes: Fred Turok, former CEO and Chair of LA Fitness; David Stalker, former CEO ukactive; and Stephen Philpott, former CEO Places for People and MD of David Lloyd. Between them they have opened 400 UK fitness and leisure clubs.
