Multimillion-pound boost for outdoor clothing and equipment firm
A Derbyshire business that owns outdoor clothing and equipment brands Rab and Lowe Alpine is set to expand overseas after landing a multimillion-pound funding package from HSBC UK.
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 after 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.”
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.”