Adventure company Zip World has secured investment from the private equity arm of Lloyds valuing the zip wire pioneer at £45m.
The funding from LDC will help the company, which runs adventure experiences in Wales including the world’s fastest zip wire, expand across the UK and beyond, it said.
Founded five year ago, Zip World operates in three locations in the Snowdonia mountain range in north Wales and now turns over more than £14m and attracts 400,000 customers each year.
Its Velocity 2 zip wire in Penrhyn Quarry can reach speeds of up to 125mph and it also runs the Europe’s highest giant swing at its site in Fforest.
LDC will be supported by Zip World’s banking partner HSBC as the adrenalin adventure tourism company looks to double in size over the next three years.
Zip World director and co-founder Sean Taylor said: “Having built an exciting brand in the adventure tourism sector, we are focused on scaling up and will be looking to acquire additional sites as part of our ongoing expansion strategy.
“We are incredibly confident in the future of the adventure tourism industry and have ambitions to deliver Zip World’s iconic experiences to more customers and create more unique new attractions.”
He added: “LDC shares our enthusiasm and vision and we now have the additional capital and expertise needed to fire up our growth plans in Wales and beyond.”
Head of LDC in Cardiff, Dewi Hughes, said: “Zip World is exactly the type of business we look to support. It’s a proven model being driven by a strong management team with a clear ambition for the future.
“We’re looking forward to getting off to a flying start.”