New Investment

RNS Number : 6505G
Literacy Capital PLC
28 July 2021
 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.

 

 

28 July 2021

 

Literacy Capital plc ("Literacy Capital" or the "Company")

 

Literacy Capital completes new investment in Oxygen Freejumping

 

New investment

 

Literacy Capital is pleased to announce that on 26 July 2021 it completed an investment in OFJ Spring Topco Limited, the holding company for Oxygen Freejumping. Oxygen Freejumping is an operator of trampoline and adventure parks in the UK, with four sites in England.

 

Literacy Capital has injected fresh capital and acquired a majority stake, with further financial terms remaining undisclosed.

 

Literacy Capital completes growth capital investment in Oxygen Freejumping

 

Literacy Capital has completed a growth capital investment into Oxygen Freejumping, an operator of trampoline parks in the UK, backing a management team with significant sector experience led by David Hill as Executive Chairman.

The Company is delighted to announce that it has completed a significant investment in Oxygen Freejumping, an operator of trampoline and adventure parks in the UK, acquiring a majority stake in the company.

Headquartered in London, the business was re-launched in 2019 with a new management team led by David Hill as Executive Chairman and Steve Wilson as Managing Director. David, formerly a PwC Partner, brings over 20 years of relevant growth and roll up experience within the leisure hospitality sectors across multiple businesses. Steve brings five years experience operating within the trampolining industry. The team will be strengthened further in the coming months, with key hires, including a CFO and Head of Marketing, already identified.

The investment will provide Oxygen Freejumping with fresh capital enabling the business to enhance its offering across existing sites, improve customer experience and engagement and to expand across the UK organically and by acquisition.

The transaction represents Literacy Capital's seventeenth platform investment completed since the inception of the fund in September 2017, and its first since the fund was listed on the London Stock Exchange in June 2021. Literacy Capital has also supported its portfolio companies in completing four bolt-on acquisitions this calendar year.

Enquires

 

Singer Capital Markets Securities Limited:

 

Robert Peel / Amanda Gray

+44 (0) 20 7496 3000

 

Literacy Capital plc / Literacy Capital Asset Management LLP:

 

Tom Vernon

+44 (0) 20 3960 0280

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at https://www.literacycapital.com/.

 

The information contained in this announcement regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified by the Company.

 

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