TPG news and archive

Vinted secures investment from TPG-led consortium

Second-hand fashion marketplace Vinted has closed a secondary share sale of 340 million euros at a valuation of 5 billion euros. The company said in a release that the transaction was led by TPG Tech Adjacencies (TTAD), TPG's strategy dedicated to providing flexible capital solutions to the technology industry. Other major investment funds...

Business

The Platform Group acquires the OEGE Group

The Platform Group (TPG), a software company for platform solutions, will become the majority shareholder of the OEGE Group as of June 2024. The company, based in Lünen (North Rhine-Westphalia), exclusively serves B2B customers in ecommerce with branded goods. The products are sold via the company's own B2B shops and platform solutions with a...

BusinessFeatured

H&M embraces new venture to buy 50 percent of its recycled polyester supplies

In a bid to revolutionise the fast fashion textile industry, H&M Group, in collaboration with Vargas Holding, has unveiled Syre, a groundbreaking venture supported by TPG Rise Climate. The primary objective is to scale up textile-to-textile recycled polyester and foster sustainability within the textile sector. H&M Group has committed a...

Apparel

Lilliput bullish on rebuilding brand, to invest Rs 300 cr

After sorting out their differences with PE investors TPG and Bain Capital, debt-ridden kidswear player - Lilliput is all set to bounce back with aggressive fundraising plans. The Delhi-based retailer has already started another round of fundraising discussions with two Chinese private equity players to raise another Rs 300 crores to meet its...

Apparel

Billabong receives proposal from TPG

The Board of Billabong announced that it received an indicative, non-binding and conditional proposal from TPG International LLC (TPG) to acquire all of the shares in the company for $1.45 (Rs 81) cash per share by way of a scheme of arrangement. TPG’s indicative price of $1.45 (Rs 81) per share is based solely on available public information...

Apparel

Lilliput case-study – A warning for India investing

Last September, less than two weeks after an IPO plan was approved, the private equity owners of Lilliput Kidswear, Bain Capital and TPG got an anonymous call stating irregularities in Lilliput’s accounts. This set off a chain of reactions. Though India’s retail sector is open for foreign investment… 100 per cent in single brand, investors’ woes...

Apparel

PEs demand Lilliput make interim audit report public

Private equity investors Bain Capital and TPG, who have been at loggerheads with Sanjay Narula, the owner of kids’ wear company, Lilliput, has filed an application in the Delhi High Court, where have asked for brief inspection of the court-appointed independent auditors’ interim report reveals financial irregularities, and demanded the court to...

Apparel

PE investors agree to Lilliput’s fund raising

Feud between Lilliput Kidswear and its investors Bain Capital and TPG has ended on a positive note with both the investors agreeing to Lilliput’s fund raising proposal. The company has now informed its bankers that Grant Thornton and Avendus Capital will assist in raising funds through a fresh issue of shares. According to industry insiders, the...

Apparel

SS Kothari Mehta to audit Lilliput accounts

The Delhi High Court has appointed SS Kothari to independently audit and investigate Lilliput Kidswear accounts. PE investors Bain Capital and TPG had demanded a forensic investigation of Lilliput books but the court dismissed the plea. The court has also asked both Lilliput and PE investors to provide point of references to help S S Kothari...

Apparel

Lilliput Kids gets a breather

Lenders to the Lilliput Kidswear have granted extra time to repay debts that were due earlier this month. They have decided to extend short- term funds to run the business. In a recent development, the company had asked for an out-of-court settlement with its private equity (PE) investors, but the decision upon it is yet to be reached. After its...

Apparel

No differences with TPG, says Shriram Group

Vishal Retail owners, Shriram Group has cleared doubts about their souring relationship with US-based partner TPG Capital, a private equity company. There were rumours about a possible break-up between the two over Shriram’s inability to invest fresh funds in the debt-ridden Vishal Retail. The Rs 30,000-crores Shriram Group announced that their...

Apparel

PE Investors accuse Lilliput of fudging funds

Lilliput Kidswear has decided to defer its IPO plan after PE investors Bain Capital and TPG accused founder Sanjeev Narula of fudging company accounts. Narula in turn has taken the matter to the High Court alleging that investors want to put an end to the company’s RS 850 crores IPO to gain maximum control in their hands. In the wake of this...