Investec Growth & Acquisition Finance announces that it has provided a £16 million integrated debt facility to support the growth strategy of the London-based garment designers and manufacturers, Carmel Clothing.
As part of the financing arrangement, Investec has provided Carmel with revolving and amortising loan facilities, delivering working capital funding and support for future investment.
The Kentish Town-based designer and manufacturer has offices in China and Vietnam employing more than 100 staff and generating revenues of £30 million.
Carmel supplies high-profile UK and European high street stores and supermarkets such as Next and Arcadia Group, offering catwalk inspired commercial designs through early development and identification of key trends. This high-quality offering has led to rapid growth and so, as a result, Carmel’s management team has ambitious plans for the company’s future which it turned to Investec to support.
Simon Blayne, Managing Director of Carmel commented: “Throughout the deal, the Investec team showed enthusiasm and understanding of Carmel. With Investec’s support and commitment, the potential for Carmel’s growth and development is truly exciting. We recognise the importance of selecting the right funding partner and, through our relationship with Investec, we can now focus on serving our customers with outstanding design-led garments”
Tristan Nagler of Investec commented: “We’re passionate about partnering with first class management teams. Backing entrepreneurs is at the heart of what we do and we are confident our integrated debt facility will support Carmel in delivering its growth strategy.”