Scottish homewares retailer Texstyle World Home is on the acquisition trail in England and Ireland, following a£1.25 million cash injection from venture capitalists.
Aberdeen Murray Johnstone Private Equity (AMJPE) has taken a 20 per cent stake in the business, headed by Texstyle World founders Eric and Mark Reid.
Managing director Mark Reid said he would now look to acquire 'manageable chunks' of stores to widen the retailer's geographical reach. 'We've now got a base of 17 stores and that gives us a solid foundation to grow the business,' he said.
The Reids departed the original Texstyle World business four years ago and started trendy homewares fascia Room2. However, when Texstyle World went into receivership in March, the father and son pair bought back the brand name and 11 shops. The two businesses are now united under the Texstyle World Home banner.
Reid said the 'style-led' proposition was a hybrid of the two retail businesses.
Occasional and dining room furniture has also been introduced into a traditionally soft furnishings-based assortment.
AMJPE head Bill Nixon said the equity firm was committed to investing in the retail sector, adding that the Reids have a 'proven retail pedigree.'
'In due course, we will start to look at suitable acquisitions, probably outside Scotland, although we may open a few more units north of the border,' said Nixon.
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