By Ian McConnell
RANGERS kit supplier Castore has signed a new debt facility with Royal Bank of Scotland owner NatWest, which declared the sportswear firm had a "stellar growth trajectory".
It is believed the facility is for up to £20 million.
NatWest is the business's existing banking partner.
Tom Beahon, co-founder of Castore, said: “Securing this debt facility with NatWest is a significant step in Castore’s exciting growth plans. Castore’s business model combines the most attractive aspects of team sports and D2C (direct to consumer) apparel to produce an optimal blend of high growth and low risk."
Chris Logan, senior director of corporate and commercial banking at NatWest, said: “We have been long admirers of Castore and are delighted to have secured this facility with the business. The business has delivered exceptional financial performance since inception, and we look forward to a long-term partnership as the business continues its stellar growth trajectory.”
Castore was founded in 2016 by Tom and Phil Beahon. It employs nearly 400 people.
Its investors include two-time Wimbledon Champion Sir Andy Murray and Lancashire-based billionaires Mohsin and Zuber Issa.
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