Castore: Sportswear brand that's backed by Andy Murray and the Asda-owning billionaire Issa brothers valued at £750m

Manchester-headquartered sportswear brand Castore, whose logo is featured on the kits of Premier League clubs, international cricket teams and worldwide superstars, has been valued a £750m.

The brand is backed by the likes of tennis star Andy Murray and the Asda-owning billionaire Issa brothers and has agreed a secured revolving credit facility from three banks worth £50m.

The company has the ability to extend the facility by an additional year, from the current three, and increase it to £75m.

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Castore founders Tom and Phil Beahon (Darren Gerrish)

The business said the facility will give it additional levels of liquidity to "further support the group's strategic growth ambitions" and lengthen the maturity of its committed debt facilities, "enhancing Castore's financial flexibility".

The company also said it will allow it to broaden its banking partners by establishing relationships with BNP Paribas, HSBC UK Bank plc and Silicon Valley Bank UK.

Castore is the official technical kit partner of a number of leading teams and athletes including Glasgow Rangers, McLaren Racing, Newcastle United, England Cricket, US Open Champion Matt Fitzpatrick and Andy Murray. The brand sells into more than 90 countries globally.

Castore co-founder Tom Beahon said: "We are delighted to have successfully raised new debt facilities with three global banking partners.

"The increased facility is a strong endorsement of Castore’s exceptional performance in recent years, as well as our business model and strategy.

"The additional liquidity will allow us to further accelerate and internationalise our growth trajectory as we continue to build Castore into the leading premium sportswear brand in the world."

Mohsin and Zuber Issa (EG Group)

Castore was advised by Rothschild & Co on its refinancing. Addleshaw Goddard LLP acted for the company and Eversheds Sutherland LLP for the lenders.

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