The team at SAS Daniels LLP has advised school wear supplier Rowlinson Knitwear on a £5 million refinancing deal.
Rowlinson, which is based in Stockport, has secured the facilities from HSBC Commercial Banking to support day-to-day operations and its international growth plans.
The firm, which has been in operation for almost 80 years, has around 50 per cent of the UK personalised knitwear market share. It already operates on an international level, importing from Asia and North Africa, and works with retailers including John Lewis.
The team at SAS Daniels, who advised on the real estate security aspects of the deal said: “This refinancing will place Rowlinson’s in the best position to continue its impressive international growth. It’s fantastic to see another Stockport firm going from strength to strength in what is still a difficult market.”
The funding package includes products to protect against foreign exchange risk, an overdraft and facilities to enable the firm to continue to invest in operations.
Chris Wormall, HSBC’s deputy regional commercial director for Manchester, said Rowlinson was a “prime example of a forward-thinking business” with a strong customer base in the UK.