Zip line adventure business Zip World fell into the red before it was taken over in a £100m private equity deal, new accounts have shown.
The company, headquartered in Wales, was acquired by Dolphin Capital in January. Zip World operates eight locations across Wales, Manchester, Cumbria and London, and is known for operating the world's fastest zip line.
Former Royal Marines commando Sean Taylor launched the enterprise in 2013. The investment by Dolphin Capital provided an exit for LDC after six years, as reported by .
When the acquisition was announced, Zip World had not yet filed its accounts for 2023 or 2024.
Zip World has now lodged its 2023 accounts with Companies House, which reveal the company swung from a pre-tax profit of £109,299 in 2022 to a £3.3m loss in 2023, along with a decrease in turnover from £28.6m to £27.4m.
Zip World is due to present its accounts for 2024 by this September.
At the time of the Dolphin deal, 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 º£½ÇÊÓƵ.
"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."
Also at the time of the deal, Richard Cook partner at Dolphin Capital, said: "We are delighted to support Zip World in their continued growth, and our investment reflects our confidence in the team’s operational ability, their expansion plans and the positive impact they make to the adventure tourism sector in the º£½ÇÊÓƵ.
"We look forward to investing in the existing sites and opening more Zip Worlds in the coming years."
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