£11.5m funding to grow Stadium Group
Hartlepool technology firm, Stadium Group plc, has secured an £11.5m finance package from HSBC, to support growth ambitions.
The deal with HSBC’s Corporate Banking team means Stadium Group will be in a position to act on future acquisition opportunities.
Tony Leech, HSBC’s Senior Corporate Banking Manager in the North East commented: “Stadium Group plc is a significant international company that has adapted its business to maintain competitive advantage and tap into new opportunities and markets.
“As it looks to the future, and to increasing its international footprint, the company recognised that a global banking partner would best support its ambitious plans. With HSBC already providing Stadium Group’s banking arrangements in China the move to the team in the North East was a natural one.”
Stephen Phipson, Chief Executive at Stadium Group Plc, added: “The funding from HSBC will support the business’s goal to maintain sustained growth through market development, technology investment and strategic acquisitions, in key sectors such as security, medical and care, and transport infrastructure.
“Being a global company we needed a banking partner that understood the markets that we operate in and as such we are looking forward to taking advantage of HSBC’s global expertise moving forward.”
Since its inception in 1911 as Etienne & Co, Stadium Group plc has gone on to employ over 1100 people, and now has operations in UK and Asia.
This was posted in Bdaily's Members' News section by Tom Keighley .
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