Jump In secures funding
HMT led by Partner Andrew Thomson and Senior Manager David Copp advised indoor trampoline arena operator GoJumpin Ltd (“Jump In”) on its recent development capital funding to support its continued expansion.
Founded by Vernon West and Gavin Lucas together with mumpreneur Linda Willaford-West, Jump In is a leading UK leisure and recreational activities business. Jump In now has six indoor trampoline arenas nationwide in Slough, Tonbridge, Enfield, Aberdeen, Warwick and Walsall and offers jumping, fitness and free-running classes as well as jumping sessions for kids and adults.
This is the second transaction HMT has advised Jump In on following the successful fundraising from Santander in November 2016. The PE-style transaction was backed by KERN Ventures, a private family office that invests in development capital transactions.
Jump In will use the new funding package of up to £6m to boost its site opening programme over the next 12 months, including five new arenas in Poole, Coventry, Harrogate, East Lothian, and Shrewsbury, together with firepower to respond to acquisition opportunities as the operators in the sector consolidate.
Vernon West, Chairman at Jump In commented:
“We are delighted to have the backing of KERN Ventures and the funds to deploy into carefully considered investments in our sector. Competition has intensified putting financial pressure on most smaller operators but offering significant opportunity for a scale-player given the increasing benefits of brand and cost advantage; we intend to take full advantage.”
Andrew Thomson commented:
“As a result of the strength and track record of the management team, and an exciting expansion plan, Jump In has been able to attract significant investment to allow Vernon, Gavin and the team to implement the next stage of the growth in the business. We are delighted to have worked with the team at Jump In again and look forward to supporting them as they continue to growth and develop the business.”