Camping and outdoor leisure firm pitched for growth with £1m investment
Worcester-based camping and outdoor leisure company OLPRO, which has tripled its turnover in the last six years, has secured a £1m investment.
OLPRO will use the investment to further establish itself in the UK camping market.
By securing funding the company will be able to bolster its team, adding 10 team members by 2025, across its sales, marketing, customer services and warehouse departments.
While a vast majority of sales are through its website, OLPRO supplies retailers including Halfords, B&Q, Argos, The Range and Wayfair, increasing its access to the market.
The Covid-19 pandemic was the catalyst for explosive growth in the camping market. As a result, the existing market of outdoor enthusiasts and festival goers expanded to many more younger and older consumers prioritising outdoor recreation.
The funding came from the Midlands Engine Investment Fund (MEIF) through the MEIF West Midlands Equity Fund managed by Midven, part of the Future Planet Capital Group to promote growth and increase operational capacity.
Daniel Walton, managing director at OLPRO, said:“OLPRO is fast becoming the recognised go-to brand for stand out camping and campervan equipment. As a British-designed and innovative brand, we’re now selling into more countries as OLPRO products have become more readily available. This funding allows us to invest further into the team, our product development, and to hold more stock so we can cover demand.”
Surjit Kooner, investment director at Midven, added: “OLPRO’s management team are the main driving force behind the business. They are experienced and well connected in the outdoor leisure industry, and they have a clear growth trajectory for the business. By securing this investment the OLPRO team has the potential to significantly accelerate growth in a rapidly growing market.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
