Active entertainment brand Gravity has secured £30 million funding from Sculptor Real Estate, the property arm of NYSE-listed Sculptor Capital Management Inc to drive the business forward.
Gravity began as a one-off trampoline park operation at the Xscape indoor ski slope at Castleford in 2014. Founders and Bridlington school chums Harvey Jenkinson and Michael Harrison have since built it into a £27 million turnover business hosting indoor leisure activities at 17 prime locations nationally, and a brand synonymous with high-octane indoor entertainment, with karting, mini-golf and bowling also offered under the Gravity umbrella.
There are also Gravity-branded operations in Saudi Arabia and Mauritius, while the company is set to launch a multi-activity entertainment venue in Liverpool in the first half of 2023. Costing £10m, Gravity will occupy 100,000 sq ft on the upper floors of the former Debenhams store in Liverpool ONE.
Despite the economic climate, Gravity has continued to see high demand for its experiences. Its £27m turnover in 2022 was up from £17m in 2021, and management is projecting revenues of more than £50m in 2024 based on the current pipeline.
Chief executive Jenkinson said: “This backing will help us realise the full potential of the Gravity brand, ensuring the rollout of our business plan and achievement of strategic objectives. We look forward to further establishing Gravity as the international name in active entertainment and providing our customers at every site with the best possible experience.”
The latest funding follows a £5 million injection from the private equity arm of Guinness Asset Management in 2017, which helped springboard the company to its current position. Gravity is now expected to announce a pipeline of venues in major UK cities as well as more overseas, alongside investments in refurbishments, marketing, and strengthening of the senior leadership team with strategic hires to support growth and brand development.
