STB Commercial Finance provides Antler with £8m ABL facility
STB Commercial Finance

STB Commercial Finance provides Antler with £8m ABL facility

Secure Trust Bank Commercial Finance has provided an £8m asset-based lending facility to Antler.

The luggage manufacturer will use the funding to invest in its online platform.

Antler designs all of its products in the UK, which includes lightweight suitcases and bags.

STB has provided the funding in the form of a receivables and inventory facility.

Antler was acquired by private equity investor Endless LLP in July 2017 and has since appointed a new executive management team.

Mark Hall, executive chairman at Antler, said: “The new facility will unlock a significant amount of additional working capital funding to enable Antler to invest in new products and enhance its e-commerce proposition.

“The funding package provided by Secure Trust Bank also allows Antler to support its valued suppliers more closely, enabling product to be sourced more competitively and efficiently.”

Will Airey, portfolio and structuring director at Secure Trust Bank Commercial Finance, added: “The Antler brand is a household name in the UK and internationally, with a strong reputation for high-quality products.

“We’re pleased to support Antler’s development as the business continues to grow and builds on the great strength of the Antler brand in the coming years.”

Tom Jack, partner at Endless LLP, concluded: “We are delighted to have Secure Trust alongside us for the next stage in Antler’s growth.

“It was clear to us from an early stage that the bank was keen to work alongside Endless and Antler, offering a flexible and commercial funding solution, which is complementary to our investment strategy.”

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