ARotherham-based manufacturer and importer of commercial quality marquee, gazebos and tents, plans to expand with the purchase of a 22,000 sq ft warehouse and office space, backed by £3.6m in aggregate funding from HSBC.
Gala Tent has secured a further £1 million facility, enabling the business to immediately hire 6 new employees to support the latest premises, with further local jobs to be created in the area.
An equipment finance facility of £250,000 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 has not only enhanced Gala Tent’s manufacturing process, but also given it an edge over its competitors, strengthening its position in the domestic market.
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, Gala Tent, 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, HSBC’s Head of Corporate Banking in South and West Yorkshire, said: “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.”
Founded in September 1999, Gala Tent is a multi-award winning company with an annual turnover of over £10m, known in the industry for making it more affordable to buy a marquee rather than hiring one. The company currently sells over 15,000 tents and 120,000 accessories each year worldwide and the first mail order marquee company in the world.
The deal was led by Lee Manterfield, relationship director, HSBC Corporate Banking.