HSBC has lent £1m as part of a Management Buy Out (MBO) scheme to Valorem Capital One, the company behind luxury fragrance brand Boadicea the Victorious.
With the funding, Valorem Capital One will streamline its management team, and aims to expand further into Europe and break into the Asian market. It also hopes to create 20 new jobs in the restructuring process.
David Crisp, Co-Director of Valorem Capital One, said: “The company is accelerating at a rapid pace due to increasing product demand, so it was the ideal time to open a new chapter for the business and target international markets.
“Now we’ve completed the MBO we have more freedom to expand our business internationally as well as further establish our strong UK market position. HSBC’s regional team totally understood where we wanted to take the business.”
HSBC lent the money to Valorem Capital One as part of its commitment to lend £2.5bn to SMEs in London, UK, this year.Kevin Dewick, Area Director of Business Banking for HSBC in the West End, said: “Valorem Capital One is experiencing a period of rapid growth, which is testament to the great quality of its perfumes. The restructured management team is now in a fantastic position to engage with new international markets.”
