Co-investment gets Boulders climbing centre off the ground
Finance Wales recently co-invested with xénos business
angels in an equity deal totalling £525,000. The
investment was in start-up company Boulders, Wales’ largest
climbing wall, which opened in August 2008.
Creating an investment package
We invested £54,000 equity in Boulders. Two business
angels, Peter Saunders and Keith Thomas invested a total
of £60,000 in return for a stake in the company.
Boulders’ projected growth plan appealed to our investment
executive Karen Davies who tailored an investment package. Two
members of xénos, Wales’ Business Angels Network also recognised
potential in the extreme sports centre and were keen to get on
board.
xénos, Wales’ Business Angels Network matches private investors
with businesses seeking investment.
Investors share their expertise
The two business angels provided valuable advice to Boulders’
founders Rob Laurence and Ollie Noakes.
Business angel Peter Saunders was excited to be involved in the
start-up. “Rob and Ollie have a real passion for the business.
Keith Thomas and I have been pleased to invest in Boulders and give
the founders the benefit of our wider business experience. It’s a
great idea and is sure to be a great success”.
Accountant referral
BPU chartered accountants advised Boulders outset and referred the
investment opportunity to us. The accountants recognised that a
tailored investment package from Finance Wales would enable the
company to meet its objectives.
Boulders’ vision is to provide and healthy and exciting alternative
to gyms and fitness centres.