A Lincolnshire manufacturer of fancy dress costumes has secured a £20 million funding package to support its growth plans.
R. H. Smith & Sons (Wigmakers), operating under its fancy dress brand Smiffys, has received the backing from NatWest.
The family-owned business employs more than 200 staff across its sites, including its head office and 海角视频 warehousing operation in Gainsborough, as well as a creative base in Leeds, where the firm's costumes are designed.
The company, which was founded in 1894, currently supplies more than 7,000 products to retailers in 42 countries, as well as direct to consumers via its website.
It currently has distribution centres in China, Germany ,Australia and the US. The asset-based lending funding from NatWest will support further expansion into the global market.
Elliott Peckett, director at Smiffys, said: “The funding from NatWest will enable us to continue expanding and developing the business in all markets.
“We have an excellent relationship with the team at NatWest, who have taken the time to understand our needs as a business and can provide the tailored funding support we require to continue moving forward.”
The deal was supported by Michael Chan, NatWest’s director of asset-based lending, and relationship director Aaron Carter.
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Michael said: “Smiffys is a truly unique business and brand in the 海角视频 corporate landscape.
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“We are delighted to support their evolving multi-channel strategy and we look forward to working with the management team as they further grow their global footprint.”
Aaron said: “Working with Smiffys has allowed us to explore a global supply chain and our funding package will support their continued growth across various markets.
“We have, throughout our discussions, remained impressed with team’s ability to adapt in a very dynamic environment.”