Belstane targets Rok growth with investment
Newly-acquired Belstane Marketing, based in Ashbourne, has secured funding from Santander Corporate Finance worth more than £1.5m to boost its outdoor clothing range Rok.
The equestrian and outdoor clothing supplier agreed an investment line and banking arrangement to invest and promote its own brand.
Santander provided a £1.2m invoice financing facility plus £315,000 trade finance and access to an overdraft.
The funding deal was struck after Belstane was bought by Ansor Textile Solutions, also based in Derbyshire.
As part of the takeover agreement, Belstane's managing director David Stuart-Monteith now owns a 25 per cent stake in Ansor.
Belstane, which employs 21 staff at its head office in Ashbourne and showroom in London, currently has a £5m turnover.
The company specialises in distributing equestrian labels such as Trabucco, Rapture, Pikeur and Muckboot and has expanded into fishing and gardening brands. The business is also now making and importing its own Wellington boot range under the name Rok.
Adrian Wilkinson, chief executive of Ansor Textiles, said: "We are very confident of success with Belstane, following our recent investment and we look forward to building on the company’s steady growth in recent years with the support of Santander."
