Penelope Joins Textile Solutions Group in Strategic Acquisition
Deal News | Jan 22, 2025 | Elvaston Capital Management Gm
Elvaston Capital Management's portfolio company, Textile Solutions Group (TSG), has expanded its product offerings with the acquisition of Informàtica Tèxtil SL, known as Penelope. Based in Barcelona, Penelope specializes in providing CAD software focused on the design and simulation of fabrics, employing 20 people. The acquisition aims to bolster TSG's product portfolio, offering significant cross-selling opportunities within the group. Additionally, Penelope stands to gain from Datatex's extensive global reach in marketing its products.
Sectors
- Private Equity
- Textile and Apparel
- Software and Technology
Geography
- Spain – Penelope is based in Barcelona, Spain, marking the geographical focus of the acquisition.
- Germany – Elvaston Capital Management is headquartered in Germany, indicating the private equity firm's primary location.
Industry
- Private Equity – The article involves Elvaston Capital Management, a private equity firm managing the investment in TSG.
- Textile and Apparel – The core business of both TSG and Penelope revolves around fabric design and textile solutions.
- Software and Technology – Penelope provides CAD software, placing the company within the software and technology sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elvaston Capital Management Gmbh | PE Firm | Company | A private equity firm managing investments in companies like TSG. |
| Textile Solutions Group (TSG) | Acquiring Company | Company | A portfolio company of Elvaston, focused on expanding its product offerings by acquiring Penelope. |
| Informàtica Tèxtil SL (Penelope) | Target Company | Company | A leading CAD software provider for fabric design acquired by TSG. |
| Datatex | Partner Company | Company | Provides a global presence and extensive marketing network to support Penelope post-acquisition. |