
LGV-backed Jeyes secures £20m credit facility
LGV-backed hygiene product manufacturer, Jeyes Holdings has completed a refinancing agreement, securing a revolving asset-based lending facility in excess of £20m provided by RBS.
The new debt facility will repay existing syndicated term debt and provide working capital and additional funding for future growth plans.
In 2002, LGV and IWP International formed a joint venture to enable the management buyout of IWP’s Household Products Division in a deal valued at €134.2m. The deal saw LVG invest £30m for a 44% in the business and IWP retained a 35% stake in the business through a €33.2m investment consisting of shares and deep discount bonds.
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