A global provider of sports equipment is set for further expansion after announcing the acquisition of a new 47-acre site in North Wales.
With the help of a £1.6million loan from Lloyds Bank Commercial Banking, Net World Sports, which currently exports high quality sporting products to more than 180 countries worldwide, will continue to grow its operations with the addition of the new site in Wrexham. Located less than a mile from the company’s current 120,000 sq. ft. headquarters on Wrexham Industrial Estate, the new site has already gained planning approval for a further 400,000 sq. ft. of commercial development.
The purchase and future development of the land forms part of the company’s long-term growth plan. Over the last decade, Net World Sports – which was founded by entrepreneur Alex Lovén – has grown consistently, turning over £22million last year – an increase of 27% on the previous year.
Benefitting from six international offices, the company’s client base includes professional sports teams and governing bodies from across the world, including the Canadian Football League and A-League club Perth Glory FC.
The funding for the acquisition forms part of Lloyds Bank’s £1.1billion lending commitment to businesses in Wales. Net World Sport was named ‘SME Business of the Year’ at last year’s Lloyds Bank National Business Awards. Its owner, Alex Lovén, is shortlisted for the title of ‘The Inflexion Entrepreneur of the Year’ at this year’s awards, taking place on 12th November in London.
Alex said: “We have an exciting year ahead of us as we look to grow our operational base in Wrexham. This purchase is part of our long-term growth strategy, with the land providing an opportunity to build further distribution and corporate space near to our current headquarters.
“Sport’s popularity is universal and has enabled us as a business based in North Wales to reach a large global audience. Lloyds Bank’s guidance, alongside the support of Wrexham County Council, has been invaluable and will continue to be, as we look to the future. With the help of the bank, we have every expectation of our brands gaining further traction both domestically and overseas.”
Stella Clayton, relationship manager at Lloyds Bank Commercial Banking, said: “We’ve been by Alex and the business’ side for the past 10 years, so we know just how driven the company is to succeed on the global stage.
“For export businesses like Net World Sports to grow and champion the UK internationally, it’s vital that the correct funding is in place. Our mission is to help Britain prosper, and we’re extremely proud to support this latest acquisition, which will ultimately create new jobs and boost the regional economy in North Wales.”