£430k Investment in TPLD
February 2010
TPLD worked with Angus Hay of DC Consulting in preparing a new business plan to take the company forward, and it was DC Consulting that made the introduction to Barwell. The investment of £430k, completed in mid-February, incorporated the conversion of loans and preference shares from existing investors alongside new equity being introduced from Barwell and the Scottish Co-investment Fund. The funding package will enable Piggot and colleagues to embark upon a marketing plan which will see them take the Virtual World product to prospective clients in a ‘road show’ format. TPLD currently sells mainly in the UK, but has prospects in Singapore and Europe; in addition, Barwell is providing contacts which will help the company to enter the USA.
£500k Refinancing Package for ICS 2
February 2010
To allow the business to survive, ICS2’s directors set about the task of seeking new investment to place the company on a level keel and return the business to profit. The original owners and private investor in the business, working closely with Dundee Council, the Scottish Executive, and Barwell plc, and with DC Consulting as advisers, negotiated a new funding package that was acceptable to the Bank of Scotland and all relevant parties involved. As a result a total refunding package of £500k was achieved.