News: Gala Tent bank on bigger premises
Rotherham-based Gala Tent Ltd, the UK's leading distributor of marquees and gazebos, plans to expand with the purchase of a 22,000 sq ft warehouse and office space, backed by £3.6m of funding from HSBC.
Founded in 1999, Gala Tent has grown to sell over 15,000 tents and marquees each year, along with around 100,000 event accessories and furniture products. It grew from a table top operation in Grimethorpe to a company with a turnover of £10m having moved into new 53,000 sq ft headquarters at Fairfield Park in Manvers in 2011.
Having entered into a financial partnership with HSBC in 2012, the bank continues to back Gala Tent's growth plan and has also provided a further £1m facility, enabling the business to immediately hire six new employees to support the latest premises, with further local jobs to be created in the area.
An equipment finance facility of £250k has helped Gala Tent invest in state-of-the-art equipment, making it the first and only UK business to be capable of printing high definition images and graphics on marquees. This investment will allow Gala Tent to upgrade its manufacturing process.
Other aspects of the finance package include foreign exchange and electronic banking facilities, which are primarily used by Gala Tent to sustain its import activities.
Jason Mace, founder and managing director at Gala Tent (pictured left), said: "Our partnership with HSBC has helped us realise our expansion plans, while enabling us to hire new talent. From investing in more sophisticated technology to demonstrating credibility to global suppliers, our partnership with HSBC has been instrumental at every step of our growth."
Mike Swift, head of corporate Banking in South and West Yorkshire at HSBC, added: "Gala Tent is a market leader in its field and is actively expanding its range of operations, products and services. It is a growing business with ambitious plans, and we are pleased to be part of this exciting period, supporting its growth."
Further plans include developing the export side of the business. A set of websites were created by the Gala team and taken on by overseas distributors with their own warehouse space who could then translate them and do the selling in return for exclusivity.
Eleven distributors are in place in the EU, along with one in Iceland.
At the end of 2015, the award-winning company revealed that Sir David Richards, chairman of the FA Premier League and former chairman of Sheffield Wednesday (pictured, right), had invested in a Gala Tent.
Gala Tent website
HSBC website
Images: Gala Tent
Founded in 1999, Gala Tent has grown to sell over 15,000 tents and marquees each year, along with around 100,000 event accessories and furniture products. It grew from a table top operation in Grimethorpe to a company with a turnover of £10m having moved into new 53,000 sq ft headquarters at Fairfield Park in Manvers in 2011.
Having entered into a financial partnership with HSBC in 2012, the bank continues to back Gala Tent's growth plan and has also provided a further £1m facility, enabling the business to immediately hire six new employees to support the latest premises, with further local jobs to be created in the area.
An equipment finance facility of £250k has helped Gala Tent invest in state-of-the-art equipment, making it the first and only UK business to be capable of printing high definition images and graphics on marquees. This investment will allow Gala Tent to upgrade its manufacturing process.
Other aspects of the finance package include foreign exchange and electronic banking facilities, which are primarily used by Gala Tent to sustain its import activities.
Jason Mace, founder and managing director at Gala Tent (pictured left), said: "Our partnership with HSBC has helped us realise our expansion plans, while enabling us to hire new talent. From investing in more sophisticated technology to demonstrating credibility to global suppliers, our partnership with HSBC has been instrumental at every step of our growth."
Mike Swift, head of corporate Banking in South and West Yorkshire at HSBC, added: "Gala Tent is a market leader in its field and is actively expanding its range of operations, products and services. It is a growing business with ambitious plans, and we are pleased to be part of this exciting period, supporting its growth."
Further plans include developing the export side of the business. A set of websites were created by the Gala team and taken on by overseas distributors with their own warehouse space who could then translate them and do the selling in return for exclusivity.
Eleven distributors are in place in the EU, along with one in Iceland.
At the end of 2015, the award-winning company revealed that Sir David Richards, chairman of the FA Premier League and former chairman of Sheffield Wednesday (pictured, right), had invested in a Gala Tent.
Gala Tent website
HSBC website
Images: Gala Tent
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