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Eva Gracia Morales Translated by
Roberta HERRERA Published
April 18, 2025
Last December, the Spanish bridal fashion company Pronovias was acquired by its creditors, Bain Capital and credit specialist MV Credit, who are now injecting 110 million euros into the group to refinance it and improve its liquidity.
According to the newspaper El Economista, the purpose of this recapitalisation in the form of an injection in funds is, on the one hand, to refinance existing bridge loans, and on the other hand, to improve the company's liquidity. To achieve the latter goal, and as indicated by the credit rating agency Moody's, the company will be provided with 40 million euros in cash for its business and 20 million on its balance sheet.
As the leading creditors of Pronovias, Bain Capital and MV Credit will capitalize credits worth 260 million euros, while offering other creditors (Banco Santander, UBS and Société Générale) the option to join this economic injection, as reported by the aforementioned media outlet.
Furthermore, Pronovias has also submitted a request to the Mercantile Court number 9 of Barcelona, asking for the approval of the restructuring plan that was agreed upon after BC Partners' exit. The company claims that this plan will ensure its viability in the short and medium term and has been supported by all its creditors.
This plan will also enable the bridal fashion giant to reduce its debt from 385 to 125 million euros. The group's projections are to achieve sales of 200 million euros by 2025, supported by its consolidation in the United States, expansion of its brand portfolio in Europe, and digitalization efforts.
Pronovias, which had been acquired by BC Partners in 2025 for 550 million euros, was heavily affected by the pandemic. Although in 2025 it reached sales figures close to those of 2025 (150 million euros), its EBIT was negative at 4.1% at the end of 2025.