Sportspromedia reports that Castore has secured a new £50 million (€58.2 million) revolving credit facility (RCF). This would increase the value of the British sportswear brand to £750 million (€872 million). The RCF has an initial term of three years and includes banks HSBC, BNP Paribas and Silicon Valley Bank. Castore has the option to extend the facility for another year and increase it to £75 million.
The new financing provides the company with additional liquidity to further support its strategic growth objectives, extend the maturity of its committed credit facilities and increase its financial flexibility. Since its founding in 2015 by brothers Tom and Phil Beahon, Castore has secured a variety of equipment contracts, including with English soccer clubs as well as clubs from LaLiga, Serie A, Bundesliga and the Scottish Premiership, not to forget the F1 McLaren team. The company currently runs 11 brick-and-mortar stores across the U.K. but makes the majority of its sales online.
