The sportswear brand backed by Scottish tennis legend Andy Murray is reportedly in talks with investors over a $200m cash injection.
Sky News is reporting that Rangers kit supplier Castore is working with Rothschild to secure the extra funding.
The Manchester-based business was founded by brothers Phil and Tom Beahon and counts the likes of Andy Murray and the billionaire Issa brothers, who own Asda, among its shareholders.
Our sister site BusinessLive reported in October that Castore's sales and profits surged as it created more than 100 jobs during its latest financial year.
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Castore, which designs, manufacturers and sells apparel and accessories through online, physical stores and wholesale partners, posted a turnover of £48.8m in the 12 months to January 31, 2022, up from £17m. Its pre-tax profits went from £3m to £8m over the same period.
It has deals with the likes of Rangers, McLaren F1, Newcastle United, Le Mans, Harlequins and F1 team Red Bull.
When Andy Murray backed Castore in 2019, he said: "Castore is a young, exciting brand that offers something different, with products that are really well cut and designed".
In January, Castore increased the size of its debt facility to £75m after previously agreeing a £50m revolving credit facility in 2022 with HSBC, BNP Paribas and Silicon Valley Bank. Castore was said to be valued at £750m.
Castore has been contacted for a comment by BusinessLive.
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