Derbyshire-based Equip, which owns the Rab and Lowe Alpine brands, will use the funding package to fuel its five-year international growth strategy. The funding deal follows a rise in turnover at the company over the last 12 months.
The funding will enable the business to repay investors, including long-term partner Gresham House Ventures which has supported extensive investment in product, people, and premises. The deal also sees HSBC UK take on the full banking relationship for Equip, marking the next stage in a seven-year relationship.
David Varnham, partner in the banking team at Mills & Reeve, said: “Equip is one of those companies that has put the Midlands on the world stage. Its brands are internationally renowned for their quality and technical innovation, and we were delighted to advise HSBC on the funding arrangements. The transaction will provide Equip with an excellent platform to achieve its global expansion plans and I am sure will mark the start of a highly successful partnership.”
Matt Gowar, CEO and Owner of Equip Outdoor Technologies, said: “This funding will create opportunities for the continued growth of our business and further innovation to develop ever more sustainable and technical products for our customers. Working with HSBC UK means we can leverage the bank’s global footprint and the international coverage we need.”
The Mills & Reeve team included Amandip Dhillon and Sian Hughes.
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