Holovis expands into Middle East with UKEF support
UKEF provided a £4 million guarantee to experiential design company Holovis with HSBC UK.
| About the transaction: Holovis International Ltd | |
|---|---|
| Region | Leicestershire |
| Sector | Entertainment |
| Export location | UAE |
| UKEF support | Bond Support Scheme |
Holovis International Ltd (‘Holovis’) has expanded into the Middle East with the support of a £4 million guarantee from UK Export Finance (UKEF) and HSBC UK, enabling the company to secure a multi-million pound project in Abu Dhabi.
The Hinckley-based company supplies and installs complex audio-visual and real-time immersive media content for some of the world’s leading visitor attractions and brands including Merlin Entertainments, EMAAR Entertainment and McLaren.
As well as enabling the company to secure a multi-million pound contract, the facility has also supported Holovis’ wider growth and expansion strategy, with a new permanent office situated in Abu Dhabi. Holovis has a team of 130 colleagues around the world located in London, Shanghai, Florida and now Abu Dhabi.
Mike Wildman, Finance Director at Holovis, commented:
The facility from HSBC UK and UK Export Finance has helped to ensure our continued growth as a company and enabled us to secure a prestigious new contract which will not only help our growth across the Middle East but also across other markets in the future.
Whilst we supply both entertainment and enterprise markets, almost 90 per cent of our work is now solely focussed on the entertainment industry. Although the sector has faced numerous challenges over the past year, we have continued to see investment from our clients into new attractions, particularly more technology driven experiences, as customers’ demands and expectations continue to increase.
Jane Cooper, UK Export Finance Manager for Leicestershire, said:
The pandemic has been a challenge for businesses all over the world, but notably those in the entertainment sectors. Holovis’ success shows the scale of opportunity in exporting, and in diversifying beyond one market. UK Export Finance is here to help businesses realise these opportunities, putting the right support and finance in place to ensure the best of British enterprise reaches new audiences.
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