Brussels-based investment firm Verlinvest has acquired a majority stake in Boulders, Denmark’s largest operator of bouldering gyms.
The deal strengthens Verlinvest’s Global Climbing Platform, established last year with its investment in UK-based The Climbing Hangar, taking the combined business to 21 sites across Europe.
Founded in 2009, Boulders operates 10 gyms across Copenhagen, Aarhus, Odense and Aalborg, attracting more than 60,000 monthly visitors. The company has positioned itself as a community hub for climbers, combining sustainable design, cafés, and a strong event programme with high-quality route setting.
With Verlinvest’s backing, Boulders plans to accelerate expansion across the Nordics and Germany, pursue selective acquisitions, and continue building its community-led brand. Verlinvest representatives Ben Black and Olivia Gautier will join the company’s board.
Boulders CEO Ole Mørk said the partnership provides the platform to scale internationally: “With the agreement with Verlinvest I am delighted that we jointly can take the next step and build the leading bouldering chain internationally. We share the same values and ambitions, and I am excited to start this journey together.”
According to Verlinvest’s Ben Black, the acquisition fits into the firm’s strategy of scaling niche sports with global potential: “Boulders is a pioneer in Denmark and a natural fit for our Climbing Platform. Alongside The Climbing Hangar in the UK, it brings a strong brand, loyal community, and proven ability to scale. We look forward to opening new sites and pursuing M&A with like-minded operators.”
The transaction underlines Verlinvest’s interest in lifestyle and sports platforms with multi-channel growth potential, complementing its global consumer portfolio, which includes Oatly, Tony’s Chocolonely, Vita Coco, Mutti, and Insomnia Cookies.
