Home / Knowledge / News / Textiles / HSBC provides £3.9m refinance package to WSP Textiles
HSBC provides £3.9m refinance package to WSP Textiles
30
Jun '14
HSBC’s Bristol-based Leverage Portfolio Team has provided a £3.9m refinance package to prestigious textile manufacturer WSP Textiles Limited, which will support the group in implementing its future growth strategy. 
 
Stroud-based WSP Textiles Limited, owned by Vespa Capital, was founded in 1920 and is a leading textile manufacturer of high performance woven woollen tennis ball cloth, snooker cloth and pool cloth.  WSP has a strong international presence and diverse customer base, selling its products across 38 countries. WSP’s products are used in prestigious tennis tournaments such as Wimbledon, the French Open, and Australian Open, as well as major snooker championships.  As part of the company’s growth strategy, WSP Textiles will invest in alternative technologies to offer a broader product range into its existing customer base. 
 
Vespa Capital LLP is a highly experienced private investment firm that partners ambitious management teams and privately owned businesses to help them develop and grow their business. They invest in businesses in the UK and France with an enterprise value of between €15 and €50 million and have a strong longstanding relationship with HSBC. 
 
The finance package was provided by HSBC in a deal led by Relationship Director, Leverage Portfolio Management, Stefan Gunn. HSBC has been a long-term banking partner of WSP Textiles, since its original management buy-out (MBO) in 2011, and is pleased to be supporting WSP textiles and Vespa Capital during the next stage of WSP Textiles’ development. 
 
HSBC’s Stefan Gunn said, “WSP Textiles is a global market leader in the provision of woollen products to the niche tennis ball, snooker and pool cloth markets. The company has a diverse, embedded and longstanding customer base and we are excited by the future opportunities available to the company. HSBC’s international presence has assisted to drive growth in existing and new markets and we look forward to supporting further expansion opportunities where we can.” 
 
WSP Textiles’ CEO, David Smith, said, “WSP Textiles are appreciative of the support that HSBC has given the business since the MBO in 2011 and look forward to strengthening that relationship to help further develop the business over the coming years.” 
 
HSBC was advised by Burges Salmon's Richard Leeming and Alistair Rattray.

HSBC


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urmil Arya

Sushila International, a well established textile organisation established ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search