The Coalfields Funds have invested to secure a substantial minority equity stake in Trekmates, the Nottingham-based outdoor brand, as part of an £8.7m deal.

 Additional debt facilities have been provided by The Co-operative Bank and the funding package will mean the business is well positioned to continue to grow. 

Trekmates designs, sources and supplies a broad range of outdoor clothing and accessories to over 500 retailers both in the UK and overseas.  The business serves the independent outdoor sector and large national chains and has a growing international presence.  Established in 1997, Trekmates trades under its own brand with an emphasis on value-for-money products with high quality and technical excellence. The company’s current employees total 25 with further appointments expected during the next 12 months to support its anticipated growth.

Trekmates will continue to be managed by serial entrepreneur and former CEO of Games Workshop, Chris Prentice, who chairs the business and Group Sales Director, Jonathan Clayton.

Prentice commented: “We are delighted to have attracted the Fund as equity investors to support us in taking the business forward.  We have achieved an enormous amount in developing our brand and markets over recent years and look forward to growing the business further alongside the Fund Manager, EV.”

Simon Ward, who led the deal for the Fund alongside Paul Taberner said: “Trekmates is a great business that has shown strong growth over recent years. This deal demonstrates our commitment to partnering with entrepreneurs to achieve their goals.  Since EV opened it Midlands office some 16 months ago, the Fund has completed a further four transactions in the region demonstrating our firm belief that quality, owner-managed business are crying out for investment.”

Debt facilities were provided by Neil Wade and John Murphy of The Co-operative Bank’s Nottingham Corporate Banking Centre.

John Murphy, senior corporate manager at The Co-operative Bank’s Nottingham Corporate Banking Centre, said: “The Bank is delighted to support another growing local business and to be working alongside the Coalfields Funds as the equity provider. We were impressed by both the product and the company’s successful historic performance, which we believe will continue to be built upon”.

Legal advice to the company was provided by HBJ Gateley Wareing.  Pinsent Masons were legal advisers to the Coalfields Funds.  The Co-operative Bank was advised by Fraser Brown.