A Derbyshire business that owns world-renowned outdoor clothing and equipment brands Rab and Lowe Alpine is set for significant international growth thanks to a multi-million funding package from HSBC UK.
Equip Outdoor Technologies UK Ltd will utilise the funding package from HSBC UK to support the business’s plans for further growth globally.
The funding will enable the business to repay investors, including long-term partner Gresham House Ventures who have 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.
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.”
This year has seen Equip’s turnover continue to increase. Expansion in existing and new international markets is expected to lead to further significant growth, with ambitious forecasts in place for the next five years.
Graham Brown, relationship director at HSBC UK, added: “It’s great to see Equip move to HSBC as they embark upon this exciting period of growth, with their market leading outdoor clothing and equipment continuing to lead the way across the globe. We feel their aspirations for international growth fit perfectly with HSBC UK and we are delighted to be supporting Matt and all the Equip team.
“Equip is also at the forefront of the ESG agenda being one of the first outdoor companies to be certified as Climate Neutral. They have achieved Fair Wear Leader status and aim to be Net Zero by 2030 with the majority of their global premises already 100% powered by renewable energy.”
