Neo G is a Harrogate based designer, developer and 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 and Rite Aid.
After working successfully with international retailers for a number of years, Neo G now needs to invest in further working capital and stock to serve the increased demand for their products.
Caple were first introduced to Neo G by Sentio Partners in 2019, initially advancing £2m to support their early international expansion. Continued growth has led to a requirement for additional funding and Sentio Partners has worked alongside Caple to secure further finance in support of Neo G ambitious growth plans. Drawing a fully unsecured, 8-year loan allows the business to invest in the stock required for expansion, and affords the flexibility to focus on medium-term growth.
“Neo G has firmly established itself as a leading global brand in the orthopaedic and sports support market. It has been fantastic to see that they have continued to grow through both online and store-based channels. Sentio are pleased to have supported the team at Neo G in raising further working capital funding from Caple, securing long-term debt finance to support their continued international expansion.” Will Arnold Partner, Sentio Partners
“Neo G have a strong management team and very clear strategy for growth, road-tested through successful international expansion to date. Despite being a very strong, cash generative business, Neo G are tangible asset light meaning it is a very natural fit for Caple’s forward-looking unsecured credit. We can see a clear path for this funding enabling Neo G to unlock great growth potential.” Sean Brophy UK Country Manager – Caple