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Monday, October 3, 2022
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Vaciero counsels STRE on Insolvency proceedings and the search for an investor

Vaciero has advised Specialized Technology Resources España (STRE) on the search for an investor for the company (Partners Connect Group) and on the Insolvency proceedings of the US subsidiary with the approval of the Insolvency agreement

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The Partners Connect Group has acquired the North American capital company Specialised Technology Resources España (STRE) after exiting the Insolvency proceedings with the approval of the Insolvency agreement. The company STRE, assisted by the Legal and Financial services firm Vaciero, restructures its workforce and debt within the Bankruptcy proceedings with the arrival of the Partners Connect Group as an investor.

The bankruptcy, which took just over a year to complete, has served as an instrument to give an exit to one of Partners Connect’s strategic projects, which seeks to lead the transformation of the plastic film industry by offering a complete range of flexible packaging solutions that are 100% recyclable, compostable and sustainable.

STRE, a company based in Asturias for the last 20 years, was originally dedicated to encapsulating silicon cells for photovoltaic panels. In recent years, following the crisis in the sector, it was forced into bankruptcy.

Vaciero´s team was led by the firm´s managing partner Ricardo San Marcos de la Torre and Commercial & Corporate Law partner Begoña González Díaz.

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