McCarthy Denning helps Jumptastic with funding for leap into Scandinavia
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. The company and management were advised by a McCarthy Denning team led by Julia Bracewell, assisted by Marilyn Heward-Mills, Carina Loibl and Richard Beresford on the corporate side and Fionnuala Lynch on the tax aspects.
The transaction was originated by Assay Corporate Finance who also advised the Jumptastic management team throughout the whole process.
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, Paul Monaghan and CEO Lee Myall – have previous experience and where they believe the market has significant growth potential.
Andrew West, Director of Jumptastic, said: ”We have just spent the last 3 months working with McCarthy Denning and the team has been excellent and brilliant to work with. We certainly chose the right firm.”
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. 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.”
Richard Beresford, Head of Corporate at McCarthy Denning commented: “The Jumptastic team are just the kind of dynamic, entrepreneurial and high-growth clients that we love to represent. We are really looking forward to helping them grow over the coming years and I am sure they will be very successful in their move into Denmark and beyond.”
DATE 17/01/2017
