Neo G is a Harrogate based distributor of medical devices, including orthopaedic supports and braces, orthotic insoles, compression hosiery, tapes & bandages and hot & cold therapy products. Expansion into new geographies, including America, Canada and Australia, has driven further growth, and Neo G has quickly established itself in some of the world’s largest retailers, including Walgreens, Target and Rite Aid. After successfully concluding some pilot testing in international locations, Neo G needed to invest in working capital and stock to serve the forecast demand for their products.
Sentio worked alongside Caple to understand the Neo G business model and support them with their growth ambition. Drawing a fully unsecured, 8-year loan allows the business to invest in the stock required for expansion, but also affords the flexibility to focus on medium-term growth rather than simply working to solely repay debt.
Dominic Buch, Managing Partner at Caple said: “Neo G have a strong management team and very clear strategy for growth, road-tested through successful international trials. However, like many UK businesses Neo G do not have the extent of fixed, tangible assets to leverage for them to capitalise on these opportunities. Caple’s forward looking unsecured credit is a very natural fit to enable Neo G to unlock their potential.”
Will Arnold, Partner at Sentio added: “The team at Neo G have made fantastic progress building a brand that leads the UK market in its chosen categories. Neo G’s innovative and quality products are now making substantial inroads into international markets, most recently with some significant new customer wins in the US. We are delighted to have had the opportunity to support the team in securing the funding that they require to support their growth.”