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Zip World: Adventure company sold in £100m deal | |
(14 days later) | |
Zip World operates the world's fastest zip line at Penrhyn Quarry, Bethesda | Zip World operates the world's fastest zip line at Penrhyn Quarry, Bethesda |
Welsh adventure company Zip World has been sold in a deal that values the business at more than £100m. | Welsh adventure company Zip World has been sold in a deal that values the business at more than £100m. |
The Llanberis-based firm was established by Sean Taylor, who retains a minority stake alongside new owners Dolphin Capital. | The Llanberis-based firm was established by Sean Taylor, who retains a minority stake alongside new owners Dolphin Capital. |
Zip World has eight sites across Wales and England, including the world's fastest zip line - Velocity - at Penrhyn Quarry in Bethesda. | Zip World has eight sites across Wales and England, including the world's fastest zip line - Velocity - at Penrhyn Quarry in Bethesda. |
Chief executive Andrew Hudson said the deal would "kickstart" plans to expand the company. | Chief executive Andrew Hudson said the deal would "kickstart" plans to expand the company. |
In February, it will open Zip World London at the Queen Elizabeth Olympic Park, and later this year it will open a new site in Elterwater, Cumbria. | In February, it will open Zip World London at the Queen Elizabeth Olympic Park, and later this year it will open a new site in Elterwater, Cumbria. |
It is also planning to upgrade existing sites and open more Zip World attractions across the UK. | It is also planning to upgrade existing sites and open more Zip World attractions across the UK. |
Andrew Hudson, CEO of Zip World, said the deal would "kickstart" growth at the company | Andrew Hudson, CEO of Zip World, said the deal would "kickstart" growth at the company |
New investors Dolphin Capital already own Snowcentres Ltd, which operate indoor snow sports activities. | New investors Dolphin Capital already own Snowcentres Ltd, which operate indoor snow sports activities. |
Zip World CEO Andrew Hudson said: "This is just the beginning of what we hope will be a big year. | Zip World CEO Andrew Hudson said: "This is just the beginning of what we hope will be a big year. |
"Investment is key for us, not only in our new sites but also in adding value to our existing locations. | "Investment is key for us, not only in our new sites but also in adding value to our existing locations. |
"We're thrilled to be opening in London and expanding our offering to communities across the UK, but north Wales remains at the heart of our company - it's where it all started and it's why we are continuing to reinvest in more adventures for the area." | "We're thrilled to be opening in London and expanding our offering to communities across the UK, but north Wales remains at the heart of our company - it's where it all started and it's why we are continuing to reinvest in more adventures for the area." |
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