One of the UK’s leading teamwear suppliers, Samurai Sportswear, are preparing for further growth following completion of significant fundraising, advised on by Sheffield based Corporate Finance specialist, Castle Square Corporate Finance.
Headquartered in Norfolk, Samurai Sportswear is one of the best-known brands in the rugby and education teamwear markets. Exeter Chiefs, Sale Sharks, the Army Rugby Union, Cornish Pirates, Kent Cricket, and Gloucestershire and Derbyshire County Cricket clubs and the recent announcement of Leicester Tigers are amongst the high-profile sports teams it supplies with high-quality bespoke sports apparel and equipment.
The growth capital funding was provided by the BNP Paribas-backed, European funder, Caple, who specialise in providing funding growth capital for entrepreneurial businesses, as an alternative to the traditional debt and equity markets.
Samurai Sportswear manufacture and supply teamwear for professional, amateur and junior clubs alike from its own factory in China. As well as rugby, cricket and education, it also supplies netball, hockey athletics, soccer and other sports markets, with its bespoke, design-led service and responsive lead times distinguishing it from its competitors.
Managing Director Terry Sands led a Management Buy-Out of the company in 2010 and now, following completion of the fundraising, plans to take the company on a substantial growth phase. Samurai Sportswear will invest in several aspects of the business, including expanding their Asian sales presence, pushing the brand into new international territories, and continued R&D in innovative fabric and garment technologies.
Terry Sands said: “Samurai Sportswear has a long and trusted relationship with Castle Square, and we’re delighted to have closed this round with them along with Caple. We like their working style and values, and they are easy to work with. They have clear expertise in this part of the financing market.”
Sheffield based dealmakers; Castle Square Corporate Finance provided corporate finance advice to the management team, leading negotiations on transaction value as well as deal structure.
Castle Square is a mid-market specialist corporate finance boutique and has a proven track record in working with management teams to agree on Management Buy-Out terms with business owners and deliver the funding for the management team via the debt and equity markets.
Director Kevan Shaw and Patrick Lynch from the Castle Square Team led on the deal, running a structured process which resulted in Caple being chosen to provide the finance need to back the growth business plan.
Kevan Shaw said “Having advised Terry Sands on leading the Management Buy-Out back in 2010 I am delighted to have advised Samurai on raising the necessary funds to fulfil its significant growth potential. Terry has exciting plans for the company, which I am sure he will now go on and deliver now that the company has the necessary funding on board.
Patrick Lynch added, “The Samurai brand has grown significantly in recent years both in the UK and also overseas. It’s fantastic that we sourced the funding and advised on this transaction, which provides management with the resources to execute the growth business plan and take the business to the next level”.
Sean Brophy, UK Country Manager at Caple said, “Samurai Sportswear has a long track record of delivery, driven by an owner-manager who has a very clear vision for what the business can do. Lending on a long-term, fully unsecured basis will allow Samurai to invest in new contract wins, without unduly worrying about a large annual debt repayment burden. This will kick-start the next growth phase for the business”
