Darts equipment producer Retriever Sports has received fresh backing from a revolving credit facility. As the firm looks to put the funds to work expanding its business, it was supported in the deal by professionals from Quantuma.
Retriever Sports was formed in 1978 by Tom and Katie Pope. The family-owned business specialising in the design and production of darts and accessories, and has since grown to become a leading global manufacturer, exporting products worldwide.
As the company moves from exporting to the established dart-playing nations of the world, to also provide support to countries trying to develop darts into a major sport, the firm has accessed a new revolving credit facility.
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to instalment credit. Backed by Reward Funding, the facility for Retriever Sports will centre on a “property-backed solution to consolidate existing liabilities”
Carl Perry, business development director at Reward Funding, commented, “Reward is delighted to have supported Retriever Sports with a property-backed revolving credit facility. The flexibility of our funding enables the director to draw on committed capital as and when required, giving them the confidence to move forward and execute their strategic plans.”
Business advisory firm Quantuma advised Retriever Sports on successfully securing the facility from Reward Funding. Quantuma’s corporate finance team worked alongside all parties to understand the funding requirements and structure. This was presented to Perry at Reward Funding, resulting in the facility being secured and strengthening Retriever Sports’ financial position.
Olly Curwen, analyst at Quantuma, added, “We are pleased to have supported Retriever Sports on this transaction, delivering a practical and effective funding solution that provides a clear path forward. This reflects Quantuma’s ability to deliver tailored funding solutions and achieve positive outcomes for clients.”
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