Outdoor clothing brands
Equip Outdoor Technologies is the owner of the Rab range of performance clothing.
We worked alongside a leading clearing bank, providing the £4.5mn equity and VCT loan component of an overall £20mn funding package.
We also introduced a Chairman at completion with a strong background in the clothing, textiles and branded sectors. It was crucial for Equip to work with a reliable funding partner that would deliver on time and on agreed terms.
This was a complex transaction with significant expertise required to understand the working capital and funding requirements.
Investment rationale
We initially provided finance back in 2011 to enable Equip to acquire the Lowe Alpine clothing and rucksack brand from its Italian administrator.
We realised the majority of our investment in November 2022, realising a 6.9x* money multiple on our original investment
The equity stake will be bought out via a refinancing, involving funding through increased credit facilities from a new bank, with HSBC UK replacing Santander.
We continue to provide funding to the business via an existing loan which will remain in place.
*as at November 2022, Gresham House.
