Stampede has inked a new agreement with long-time partner HSBC Bank to provide 75 percent more working capital to the firm.
“HSBC has been a reliable and supportive partner since the inception of the company in 1997,” said Stampede president and COO, Kevin Kelly. “They believe in what we are doing, and they share our vision of success for the future. With this boost in our credit line we are positioned to grow the company to new levels in 2011.”
Stampede has added nine sales people in last four months, with more to come. This year the company also plans to open new offices with Dealer Training Centers in Columbus and Seattle, publish an “Even Bigger” Big Book of AV, as well as target growth in Latin America and Canada.
In 2010, Stampede saw a 25 percent growth in revenue, including 45 percent growth in the unit count of the core categories of projectors and flat panels. The majority of Stampede’s growth was seen in existing products lines. The company also grew its gross margin by 100 basis points.
“Our investment in staff training has resulted in more and more effective consultations with our dealers,” said Kelly. “This consultative approach to sales, in addition to further development of product mix, has propelled Stampede’s margin growth in a difficult economic environment.”