New funding for Odyssey from Leisure and Media VCT

Odyssey Clubs Group is planning to double in size, complete expansion plans and hit membership targets after a £600,000 equity investment deal with Leisure and Media VCT .

John West, chief executive officer of Odyssey Clubs Group says the investment will provide funds for the completion of a 30,000sq ft junior club, family restaurant and Five-a-Side Soccer complex on the 11acre site at Knebworth: 'Together with a programme of improvements at Odyssey Henley we believe this will enable the group to reach in excess of 10,000 members by September.'

Leisure and Media VCT was set up by Humberts Leisure and J O Hambro Capital Management. 'We look forward to working with John West and his team at Odyssey in continuing to build what is clearly a very exciting and professionally run business, which is developing a unique brand,' said Maarten Hemsley for J O Hambro Capital Management, managers of Leisure and Media VCT.

Odyssey is also funded by several private backers and Close Brothers Development VCT and currently operates three health and fitness clubs at Henley on Thames in Oxfordshire, Wooburn Green in Buckinghamshire and Knebworth in Hertfordshire. Details of the new clubs - planned to be up and running within the next eighteen months, have not yet been disclosed.