Zip World: Losses revealed ahead of £100m takeover
Adventure park operator Zip World fell into the red before being acquired by a private equity firm in a deal worth £100m, it has been revealed.
In January, Morning Wire reported that the Wales-headquartered company had become the latest investment for Dolphin Capital.
The firm currently runs eight sites in Wales, Manchester, Cumbria and London and boasts the world’s fastest zip line.
The business was founded by ex-Royal Marines commando Sean Taylor in 2013 while the deal with Dolphin Capital provided an exit for LDC after six years.
At the time of the deal announcement, Zip World had not filed its accounts for 2023 or 2024.
Now, ten months after the deadline and 18 months after the end of its financial year, Zip World has filed its results for 2023 with Companies House.
The accounts show the business went from a pre-tax profit of £109,299 in 2022 to a loss of £3.3m in 2023.
Its turnover fell from £28.6m to £27.4m over the same period.
The firm is now due to file its accounts for 2024 by the end of September.
Zip World warns of ‘incredible challenges’
At the time of the deal, Zip World CEO Andrew Hudson said: “The leisure and hospitality sector has faced incredible challenges over the past few years, but resilience, vision, and strategic investment have kept Zip World on a strong trajectory.
“I’m proud to share that Dolphin Capital has joined us as a key partner, enabling us to expand further and invest in new and existing sites across the UK.
“This partnership emphasises the strength of our strategy and the incredible work of our team.
“As we look ahead to 2025, our focus remains on growth, innovation, and delivering unforgettable experiences for our customers.
“With B Corp certification achieved last year, we’re proving that sustainability and success can go hand in hand.”