Due to the change in market demand, the brand belonging to the Euroquímica family business has opted to restructure the company and thus adapt its economic structure and level of debt.
To do so, it has relied on the Tertius fund, which has strengthened the company’s solvency, as well as provided it with new financial resources outside the traditional banking system. As a result, Jabones Lagarto has emerged from the process healthy and with an adequate financial structure.
The Vaciero team in charge of designing and carrying out the restructuring has been led by Ricardo San Marcos, vice president of Vaciero and head of the Insolvency and Restructuring team.
Since 2021, Vaciero has approved five creditor agreements for family-owned companies, with a total debt of €120 million and with the maintenance of 500 jobs.
Ricardo San Marcos, vice-president of Vaciero and head of the Insolvency and Restructuring Department, commented: “Contrary to the general opinion, at Vaciero, we consider the composition agreement to be a useful and effective tool in restructurings. Jabones Lagarto is our latest proof of this.”
Sergio Talavera, CEO of Jabones Lagarto said: “With this process, we have financially cleaned up the company and adjusted our activity to market requirements. Our renowned Lagarto brand will continue to bring value to our customers, manufacturing high-quality products, as it has been doing since 1914.”