Gala Tent, a Rotherham manufacturer and importer of marquees and tents, is set to buy a warehouse and create six jobs after borrowing £4.6million from HSBC.
A further equipment finance facility of £250,000 has helped the firm, based in Manvers, Wath, to invest in state-of-the-art equipment which will make it the only UK business capable of printing high definition images and graphics on marquees, it is claimed.
Other aspects of the package include foreign exchange and electronic banking facilities, which are used to sustain its import activities.
Founded in September 1999, Gala has an annual turnover of more £10m, and is known for making it cheaper to buy a marquee rather than hiring one. The company sells more than 15,000 tents and 120,000 accessories each year worldwide.
Jason Mace, founder and managing director, 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 has been instrumental.”
The 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, he added.
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 expanding its operations, products and services. It is a growing business with ambitious plans,”