Bristol action sports equipment firm Shiner is looking to expanded further into global markets after securing a £8.5m finance package from HSBC.
The third-generation family business, which manufactures and distributes lifestyle goods and action sports equipment such as roller skates, skateboards and protective gear, recently expanded into the US and Europe, opening offices and warehouses in California and the Netherlands.
It also doubled its turnover over the past 18 months as more people took up skateboarding during the pandemic while the sport also received a boost from its appearance in the recent Tokyo Olympics.
Shiner now plans to use the new finance to expand further, including selling into new markets.
Managing director Charlie Allen said: “This is a hugely exciting time for Shiner. The funding package will help us grow into the European market post-Brexit, as we expand our European distribution base while remaining committed to our UK customers.
“Action sports are becoming more popular than ever, with a significant increase in people participating in skateboarding across the globe since the pandemic began and great exposure through the Olympics. It’s a great time for us to expand.”
Shiner, based at Aztec West, was founded in 1936 by Charlie’s grandfather Jack as a builders’ merchant and transport company.
It later diversified into a number of new areas, including importing the first skateboards to the UK in 1976 – putting it in the vanguard of the then fledgling industry.
Today it is Europe’s leading action sports business supplying skateboards, quad skates, inline skates, Heelys, scooters, protective gear and clothing.
It also produces its own branded products, such as skateboards, scooters and roller skates.
HSBC UK Bristol area director James Shepherd added: “Shiner is a perfect example of a great Bristol success story – a family business that has expanded into the US and Europe and plans to continue increasing its global reach.
“We’re delighted to be supporting the business in its next phase of growth and we can’t wait to continue seeing it flourish in these next few years.”
