News: Gala Tent's expansion plans backed by HSBC
Fast-growing Rotherham business, Gala Tent, has entered into a new financial partnership that will see HSBC provide facilities worth £2.3m as part of the business's strategic five-year growth plan.
The company is the UK's largest supplier of marquees and gazebos, exporting across Europe and to the US. They moved into new 53,000 sq ft headquarters at Fairfield Park in Manvers last year.
The deal, led by Lee Bloodworth, senior international commercial manager for HSBC in South Yorkshire, will allow Gala Tent to increase overseas production of components which are exclusively designed by Gala Tent and built in Britain. This will help the company accrue stock throughout the winter in preparation for the business' busy summer period - a peak time for many operating in the events industry.
Jason Mace, managing director of Gala Tent Limited, said: "We are at an exciting phase of growth and the business required an international bank that can facilitate the flexibility we require to make the most of our importing activity. This will allow us to further penetrate the European market and continue to develop our presence in the UK.
"The team at HSBC have worked with us to ensure the right financial products will facilitate our strategic growth goals for the future of the business."
Martin Nattrass, area commercial director for HSBC in South Yorkshire, added: "Gala Tent is a great example of a business which has responded to the growth in the online market by focusing its growth strategy on web-based sales. The company is also expanding its international footprint, by targeting new customers in Europe.
"We look forward to working closely with the management team over the coming years to ensure the business can optimise these international opportunities."
The company has grown from a table top operation in Grimethorpe to a company with a turnover in excess of £5m in just over a decade. It sells over 10,000 tents and marquees each year, along with around 90,000 event accessories and furniture products in the UK. In the UK, it is a preferred supplier for organisations including the military, NHS, the South Yorkshire Fire & Rescue Service, South Yorkshire Police Service, St John's Ambulance and AA.
Gala Tent is on target to achieve a turnover of £7m in 2012.
Gala Tent website
Images: Gala Tent
The company is the UK's largest supplier of marquees and gazebos, exporting across Europe and to the US. They moved into new 53,000 sq ft headquarters at Fairfield Park in Manvers last year.
The deal, led by Lee Bloodworth, senior international commercial manager for HSBC in South Yorkshire, will allow Gala Tent to increase overseas production of components which are exclusively designed by Gala Tent and built in Britain. This will help the company accrue stock throughout the winter in preparation for the business' busy summer period - a peak time for many operating in the events industry.
Jason Mace, managing director of Gala Tent Limited, said: "We are at an exciting phase of growth and the business required an international bank that can facilitate the flexibility we require to make the most of our importing activity. This will allow us to further penetrate the European market and continue to develop our presence in the UK.
"The team at HSBC have worked with us to ensure the right financial products will facilitate our strategic growth goals for the future of the business."
Martin Nattrass, area commercial director for HSBC in South Yorkshire, added: "Gala Tent is a great example of a business which has responded to the growth in the online market by focusing its growth strategy on web-based sales. The company is also expanding its international footprint, by targeting new customers in Europe.
"We look forward to working closely with the management team over the coming years to ensure the business can optimise these international opportunities."
The company has grown from a table top operation in Grimethorpe to a company with a turnover in excess of £5m in just over a decade. It sells over 10,000 tents and marquees each year, along with around 90,000 event accessories and furniture products in the UK. In the UK, it is a preferred supplier for organisations including the military, NHS, the South Yorkshire Fire & Rescue Service, South Yorkshire Police Service, St John's Ambulance and AA.
Gala Tent is on target to achieve a turnover of £7m in 2012.
Gala Tent website
Images: Gala Tent
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