China CEE Fund completes first investment in Bulgaria

CEE Equity Partners, advisor to the China CEE Investment Co-operation Fund (the Fund), is pleased to announce the completion of a first investment into Walltopia, the world leading manufacturer and installer of climbing walls. Walltopia has built more than 1,300 projects in 50 countries, and derives approximately 50% of its revenue from the fast growing US market.

This is the Fund’s first investment in both Bulgaria and our target segment of specialised manufacturing. The Fund has co-invested with Black Peak Capital, a Bulgarian PE fund investing in companies with high growth, market leadership and sustainable competitive advantage.

“We are happy to welcome partners who share our passion for the product and who can drive value beyond money” said Ivaylo Penchev, CEO and founding shareholder of Walltopia. The investment will fund an increase in manufacturing capacity and support the faster deployment of Funtopia – an innovative amusement concept based on climbing which started in Sofia and has now been successfully adopted in Funtopia centres in USA, Canada and Israel.

The attributes of Walltopia which have attracted the Fund to make this investment include:

– Strong competitive advantage achieved through innovation, execution, and cost leadership.
– Strong leadership. Walltopia’s CEO was recently selected as one of the 6 most dynamic global     entrepreneurs at the EY’s World Entrepreneur of the Year Summit; and also an impressive depth of supporting management.
– Excellent growth prospects. Both from growing core market, including in China where we aim to support their growth; and the move into the amusement and entertainment industry.

About Walltopia Ltd.

Founded in 1998, the company has completed 1,300 projects, over 270,000 sq.m. of walls, on 6 continents. Walltopia employs more than 350 professionals and has the largest production facility in the industry. Since 2012 Walltopia has expanded its portfolio of products and services towards the amusement and entertainment industry and now offers complete solutions for  shopping malls and adventure parks. It has won numerous prestigious awards for innovation and entrepreneurship