Movement Climbing + Fitness

Movement Climbing + Fitness

Flaherty founded the original Denver-area Movement in 2009, building a base of gyms centered around bouldering, rope climbing, and yoga. The combination of Earth Treks and Planet Granite — legacy brands with roots in Maryland and California respectively — formed a platform that now stretches from the mid-Atlantic to the Bay Area, with clusters in Texas, Oregon, Illinois, and Colorado. Movement's strategy is a property-intensive roll-up executed through direct operating company control. The firm acquires or develops large-format industrial and retail spaces — often 20,000 to 50,000 square feet — and outfits them with climbing walls, fitness areas, and yoga studios. Confirmed locations include properties in Denver, San Francisco, Portland, Dallas, and Rockville. The model relies on recurring membership revenue, gear retail, and instructional programming rather than one-time visits. El Cap, the growth equity firm that backed the 2021 merger, brought operational capital and a consolidation thesis to a fragmented industry of regional gym operators. The combined entity operates approximately 30 gyms, making it the largest dedicated climbing operator in the country by location count. In June 2024, Movement opened a new gym in the Gowanus neighborhood of Brooklyn, a 40,000-square-foot facility with 60-foot top-rope walls and dedicated bouldering terrain, extending its presence into New York City for the first time. Adjacent offerings include a branded retail shop in each location and a national camps and youth teams program that generates off-peak revenue. Movement's structural distinction is its hybrid real estate–operating company DNA, which separates it from both traditional asset-light franchisors and standalone gyms. Equity backing from a specialized consumer investor — rather than a sponsor looking for quick lease-up exits — allows long-term hold periods on properties that often require significant tenant improvements. The board reports through El Cap's governance structure, moving the enterprise past founder-led management into institutional-grade operations while retaining the regional brand identities that built each legacy membership base.