iXEN sells Textiles Well to CSP International
iXEN Partners has sold its 90% stake in French clothes manufacturer Textiles Well to CSP International, for an undisclosed amount.
The investor, formerly known as Natexis Industrie, had acquired the company in 2001 in a deal valued at less than €25m. Italian stockings manufacturer CSP International will merge Textiles Well and its portfolio company Le Bourget to strengthen its European market share.
Founded in the 1950s, Textiles Well manufactures stockings, tights and lingerie. It currently employs 280 people and posted a €50m turnover for 2009 – both numbers mark a sharp decline compared to the company's situation at the time of iXEN's investment, when it had revenues of €83m and a 600-strong workforce.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com
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