Bristol action sports distributor secures £ 8.5million funding
A leading sports and lifestyle distributor, headquartered in Bristol, has secured £ 8.5million in funding from HSBC UK, allowing it to expand internationally.
Shiner, established in Bristol 85 years ago, is a third generation family owned business which manufactures and distributes lifestyle items and action sports equipment including clothing, roller skates, skateboards and protective equipment. HSBC provided financing to the Dutch branch of Shiner directly from HSBC UK, successfully implementing one of the first such facilities and preparing the company for the future.
Shiner has recently expanded to the United States and Europe, with offices and warehouses in California and the Netherlands. In the coming years, the company hopes to grow even more globally, in partnership with HSBC UK.
Charlie Allen, Managing Director of Shiner, said: “This is an extremely exciting time for Shiner as we have doubled our revenue in the past 18 months and have grown globally. The funding we have received from HSBC UK will help us expand into the European market post-Brexit, as we expand our European distribution base while remaining committed to our UK customers.
“Action sports are becoming more popular than ever, with a significant increase in the number of people skateboarding around the world since the start of the pandemic and great exposure through the Olympics. Now is the perfect time to grow and we couldn’t have done it without the help of our HSBC UK Relationship Manager David Skyrme who made sure the process ran smoothly.
James Shepherd, Regional Director for Bristol at HSBC UK, added: “Shiner is the perfect example of a great success story from Bristol – a family business that has grown in the US and Europe and plans to continue growing. its global reach. We are delighted to be supporting the company in its next phase of growth and look forward to continuing to see it prosper over the next few years.
In addition to distributing international brands, Shiner also has its own branded products, such as skateboards, scooters and roller skates, all designed in the UK from its Bristol headquarters.