WATFORD, UK (19 October, 2010) TeleAdapt, the world’s leading designer, manufacturer and supplier of connectivity products to the hospitality industry, today announced the start of a new relationship with HSBC’s Commercial Banking team in Watford. The new relationship will allow TeleAdapt to utilise HSBC’s international presence and expertise to expand the business into new markets.
The 18 year old company already has a strong international presence, with six subsidiaries outside the UK, including China, Hong Kong, Dubai, Korea, Singapore and the US, supplying over one million hotel rooms all over the world. As a result, TeleAdapt recently won a place in the Sunday Times International Track 100, recognising the international business growth the company has achieved.
Gordon Brown, TeleAdapt Founder and Managing Director said:
“Our focus has always been on maximising international trade and the company actually opened its first US subsidiary within a few months of opening. Expanding internationally remains at the heart of our business strategy, and we will shortly be expanding into Brazil, so we’re really excited about taking advantage of HSBC’s expertise as part of our new relationship.”
The HSBC team, led by Ian Urquhart, has provided TeleAdapt with increased funding through the provision of an International Invoice Finance facility, assisting the company with its global expansion plans. It has also put facilities in place that will allow TeleAdapt to view its banking across the world from one internet-based platform, HSBCNet.
Ian Urquhart, HSBC’s Regional Commercial Director for the Central and Eastern region said:
“TeleAdapt is a fantastic example of a strong, innovative local business that continues to thrive and expand despite the challenges of the domestic economy.
HSBC’s recently released ‘Looking East’ report highlights the growing importance of emerging markets such as the Eastern countries, in which TeleAdapt already has a significant presence. We are urging businesses across the region to understand the opportunities these markets increasingly hold.”
Looking to the future, TeleAdapt will shortly be expanding its operations into Brazil, and intends to continue growing its international presence. The company has a particular focus on increasing activities in Asia and the Middle East and will be working closely with HSBC to ensure a smooth transition to a larger global footprint.