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The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South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

[phone]

Literacy Capital plc / Literacy Capital Asset Management LLP:

Tom Vernon

[phone]

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.

This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk.  Past performance is no guarantee of future returns.  Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.  The value of investments may fluctuate.  Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements. Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the formal Prospectus. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules made under Part VI of the Financial Services and Markets Act 2000 of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

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