Design company secures multimillion-pound Middle East project
Register for free to receive latest news stories direct to your inboxRegister
Experiential design company Holovis International has expanded into the Middle East with the support of a £4m guarantee, enabling the company to secure a multimillion-pound project in Abu Dhabi.
Based in Hinckley, the company supplies and installs complex audio-visual and real-time immersive media content for some of the world’s leading visitor attractions and brands including Merlin Entertainments, EMAAR Entertainment and McLaren.
As well as enabling the company to secure the contract, the facility from HSBC UK in conjunction with UK Export Finance has also supported Holovis’s wider growth and expansion strategy, with a permanent office now situated in Abu Dhabi.
Mike Wildman, finance director at Holovis, commented: “The facility from HSBC UK and UK Export Finance has helped to ensure our continued growth as a company and enabled us to secure a prestigious new contract which will not only help our growth across the Middle East but also across other markets in the future.
“Whilst we supply both entertainment and enterprise markets, almost 90 per cent of our work is now solely focussed on the entertainment industry. Although the sector has faced numerous challenges over the past year, we have continued to see investment from our clients into new attractions, particularly more technology driven experiences, as customers’ demands and expectations continue to increase.”
Ian Tandy, managing director of global trade and receivables finance at HSBC UK, added: “Whilst the entertainment and attraction industry has been impacted heavily by the Covid-19 pandemic, it’s great to see Holovis continuing to support its customers around the world and deliver market-defining attractions for their audiences.
“Britain has a long and proud reputation for its high quality goods and services and it’s encouraging to see businesses continuing to succeed on the global stage as they look to find growth and recover from the pandemic.”
Alongside its headquarters in Hinckley, Holovis has a team of 130 staff worldwide, with offices in London, Shanghai, Florida and Abu Dhabi.