Armagh-based airport equipment specialist Adapt GSE is targeting growth in international markets after agreeing a new funding package with Danske Bank, guaranteed by UK Export Finance (UKEF).
Adapt GSE is a leading provider of premium and sustainably refurbished ground support equipment (GSE) such as mobile passenger stairs, push back tractors, de-icer trucks, catering and cabin cleaning trucks, PRM Medical/ Ambulift Assist trucks, cargo handling loaders, belt conveyor loaders, baggage tractors and ground power units.
Co-Founded in 2020 by industry veterans Eamonn Maguire and David Russell, Adapt GSE currently exports to more than 40 companies globally but sees additional opportunities for growth in Western and Eastern Europe, East Asia, Africa, the UK and Canada in the sustainable refurbishment, and electrification of older diesel-powered equipment.
Danske Bank has provided finance to support the next phase of the company’s growth, guaranteed by UKEF’s General Export Facility (GEF).
David Russell, co-founder of Adapt GSE, said: “Our mission is to deliver innovative, high-quality and sustainably refurbished GSE solutions that enhance operational efficiency and value and safety in the aviation industry. We have a bold ambition to be the global leader in the refurbishment of GSE Assets with a particular focus on our adaptability, experience and commitment to customer satisfaction. Every airport in every country in the world uses the equipment we supply, and with airport GSE capacity forecast to double in the next 20 years, we believe our ambition is a realistic one.”
Eamonn Maguire, co-founder of Adapt GSE, added: “Danske Bank have been a fantastic bank to work with. Our relationship manager Caroline O’Hagan took time to visit the company and spend time with us, before introducing us to Bernie Kerr, to look at trade finance options. They have been extremely professional, responsive, credible and I wouldn’t hesitate to recommend them to other businesses.”
Danske is an approved GEF provider to UKEF, the UK’s export credit agency, which provides trade finance and insurance to assist UK exporters of all sizes and exports in a range of sectors, including goods, services and intellectual property.
Bernie Kerr, Head of Trade and Export Finance at Danske Bank said: “International trade can be complex and risky for businesses, so trade finance and working capital solutions backed by the UK Export Finance guarantee facility is one way to help businesses fulfil contacts or bid for new business to support further growth. We are really pleased to have been able to provide this working capital package to Adapt GSE, in partnership with UKEF, to support the company as it seeks to expand in existing and new markets in the next five years.”
Lauren Dougherty, Export Finance Manager for Northern Ireland at UKEF, said: “Adapt GSE is a fantastic example of a Northern Ireland business with genuine global ambitions. Through our General Export Facility, we’re proud to support the company as it expands into new international markets, bringing sustainable aviation solutions to airports around the world. This partnership with Danske Bank demonstrates how UKEF can help exporters across the UK unlock growth opportunities on the global stage.”
