Equip achieves record sales and uses new funding package to regain independence

Equip Outdoor Technologies UK Ltd. (“Equip”), home of technical outdoor apparel and equipment brands Rab and Lowe Alpine,last week announced a multimillion-pound funding package with HSBC UK which will support the business plans for further global growth. This relationship allows Equip to repay investors, including long-term partner Gresham House-advised Mobeus VCTs who supported extensive investment including the acquisition of Lowe Alpine in 2011. The funding package allows Equip to regain 100% control and become a wholly independent business.

In the same week Equip achieved its ambitious £100m turnover milestone with still two months of their financial year remaining, in part due to the growth in global markets. This already exceeds Equip’s previous highest annual turnover achieved in their financial year ending January 2022. Planned expansion in existing and new international markets is expected to lead to further significant growth, with ambitious forecasts in place for the next five years.

The new funding package and regained independence has enabled Andy Styan, the exiting Group Financial Director to confirm his leaving date for the end of 2022. Rob Maynard, who joined as Chief Financial Officer in April 2022, will continue to drive the HSBC UK relationship.

Jon Frederick, US Country Manager for Rab and Lowe Alpine, is stepping into the role of Equip Group Marketing Director. Jon is currently based in Equip’s USA office in Colorado. Jon’s role will commence in 2023 once transition details have been finalised.

Jon will be replacing Jim Evans who has decided to step down from the role with immediate effect. He has chosen to re-evaluate his work-life balance and spend more time with his family. He will remain within the business in a role to be announced in the New Year. Jim has led the expansion of the Rab and Lowe Alpine brands and has been instrumental in driving Equip’s Go-To-Market strategy through a challenging couple of years, contributing to the growth Equip has witnessed.

“The last couple of years have seen extraordinary pressures for the outdoor industry and supply chains. We have worked hard to grow our business throughout this period. So, to be in a situation where we have now regained our independence and achieved our £100m ambition is a testament to the determination and focus we have had.
Through HSBC UK’s support, we will create even more opportunities for continued growth and further innovation to develop ever more sustainable and technical products for our customers.”
Matt Gowar – Owner and CEO, Equip

“Driving the momentum of Equip’s consumer brands, Rab and Lowe Alpine, throughout the pandemic and beyond has resulted in great success but also personal challenges. I am proud to be working for a company that recognises both these pressures and is allowing me time to spend with my family. I look forward to returning in the new year and supporting Jon in the continued growth of Equip.”
Jim Evans – Equip