A COMPANY that began life in the angling market has reeled in a deal with a new bank.
Family-run Praybourne in Redditch, which is now a supplier of specialist safety clothing, has extended its premises and is looking to move into new markets after switching to HSBC. It has extended its financial arrangements by £350,000 and the £4m-turnover business is now planning to expand into Europe and the Middle East.
Praybourne supplies hi-visibility safety wear and thermal base layer brands such as Pulsar, Pulsarail and Xcelcius. It was founded in 1983, initially as an angling equipment manufacturer.
Managing director Ian Jukes said: "Since our foundation we have continued to evolve and innovate to maintain our competitive edge. HSBC has helped us put in place a new structure and extend our facilities in order to fund the extension of our premises; allowing us to significantly increase our capacity and turnover. We are excited to strengthen this relationship further as we look to expand into new international markets."
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