RBPE leads Texstyle rescue package
Texstyle World, the Royal Bank of Scotland Private Equity-backed soft furnishings company based in Glasgow, has completed a refinancing package. The deal enables the firm to convert £12m of its £19m debt into equity.
In addition the firm has received £1.5m in additional funding from Royal Bank of Scotland, HBOS and former chief executive Eric Reid, who will return as a non-executive director to assist the company. Texstyle employs 960 people across its 75-store network in the UK and Ireland.
Finventures makes Cognotec investment
Finventures, the private equity unit Standard Chartered Bank, has invested in Cognotec, a provider of foreign exchange software services based in Dublin.
Cognotec has raised $14.5m, of which FinVentures has contributed just under $10m. FinVentures will become a minority shareholder and join the board. The new investment is to fund the expansion of Cognotec's global business, which currently includes 60 international banks as customers.
Crédit Lyonnais backs Soamai expansion
Crédit Lyonnais Private Equity has led the E6.6m first round investment in Soamai, a French corporate network software provider based in Paris. Crédit Lyonnais was joined in the investment round by AGF Private Equity, Chausson Finance and Net-Partners.
Soamai says it plans to use the capital to develop its strategic sales development and to further the company’s expansion in Europe.