Latest news with #PollenStreetCapital
Reuters
4 days ago
- Business
- Reuters
Pollen Street's Lumon drops takeover pursuit of UK's Argentex
May 30 (Reuters) - Payments services provider Lumon Acquisitions said on Friday that it does not intend to make an offer for Argentex (AGFX.L), opens new tab after the currency risk management firm rejected an earlier bid. Argentex became one of the first known casualties of the market turmoil caused by U.S. President Donald Trump's erratic trade policies after the sharp drop in the dollar squeezed its finances in late April. Lumon, part of British private equity firm Pollen Street Capital, joins Argentex's former CEO Harry Adams and Irish entrepreneur Terry Clune in dropping their bid to acquire the British company. Adams and Clune also said on Thursday that they would not make an offer for the firm. Argentex had rejected bids from Lumon as well as from Adams and Clune in favour of an offer from cross-border payments provider IFX Payments valuing it at about 3 million pounds ($4 million). Shares in AIM-listed Argentex, which have lost more than 90% of their value so far this year, were down 2.3%. ($1 = 0.7424 pounds)
Yahoo
25-02-2025
- Business
- Yahoo
365 Finance secures £150m debt facility with Pollen Street Capital
London-based SME lender 365 Finance has secured a £150 million debt facility with Pollen Street Capital, enabling the company to support over £300 million in annual loan originations. The facility includes a euro-denominated line to expand lending to Irish SMEs. Since its launch in 2014, 365 Finance has provided over £500 million in funding to small and medium-sized enterprises (SMEs) across the UK and Ireland. The company, which has experienced a 50% annual growth rate since 2020, offers advances of up to £500,000 to businesses within 24 hours of application. 365 Finance CEO Warren Abbey said, 'Our mission remains clear – to empower as many small businesses as possible by providing flexible, accessible capital through a customer-centric approach. Our growing partnership with Pollen Street enhances our ability to leverage cutting-edge technology and an innovative, highly automated lending platform to deliver on that promise.' Adam Brown, CFO of 365 Finance, highlighted the strengthening relationship with Pollen Street: 'We are delighted to build on our long-standing relationship with Pollen Street, who continue to support the journey of 365 Finance. We see the deepening and broadening of our funding capabilities positively impacting UK and Irish SMEs as they address cashflow needs.' Michael Katramados, Partner at Pollen Street, said, 'We are pleased to build on our strong relationship with 365 Finance, which started in 2018, increasing our facility to support their growth. Through this facility, our financing will continue to support SMEs across the UK and Ireland, helping businesses access flexible and timely capital that meets their needs.' Shawbrook's PE owners eye £2bn IPO "365 Finance secures £150m debt facility with Pollen Street Capital" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
