Outdoor firm equipped with £5m loan
An Alfreton outdoor equipment specialist has secured a £5m funding package from Santander Corporate Banking to help the firm manage its business cash flow more effectively.
Equip Outdoor Technologies (EOT), which specialises in the design, production and marketing of technical outdoor equipment and clothing, has been provided with an invoicing discount facility from Santander’s East Midlands Corporate Banking Centre.
In addition, as more than half of EOT’s products are exported, the bank will provide trade finance lending facilities and foreign exchange hedging services which reduces the business’ risk to currency fluctuations.
Matt Gower, chief executive at EOT, said he was “delighted” with the finance package. He added: “These new facilities will give us greater confidence in our working capital, enabling us to fund the growth of this dynamic and forward thinking business.”
The company, which was established in 2003 by Gower, operates four main brands of outdoor equipment, clothing and accessories.
