Pronovias, a well-known and respected bridal fashion company, has recently received a significant capital injection of 100 million euros. This injection was provided by the company’s new owners, Bain Capital and MV Credit, and has exceeded the initial projected figure, bringing the total capital injection to 211 million euros. The primary purpose of this strategic move is to address Pronovias’ existing debt and execute its revitalization plan.

The capital injection was carried out through the entity Mermaid Bidco Limited in two phases. The first phase, which occurred on May 9, involved an injection of 31 million euros, followed by a second phase on May 6 with an infusion of 180 million euros. As a result, the previous owner of Pronovias, BC Capital, has completely divested itself from the company.

Like many other businesses, Pronovias experienced significant setbacks due to the Covid-19 pandemic and the subsequent slowdown in the wedding industry. By receiving a capital injection of 211 million euros, the company aims to refinance bridge loans, strengthen its balance sheet, and improve its liquidity. The ultimate goal is to reduce Pronovias’ existing debt by 70%, bringing it down to 125 million euros.

In addition to debt reduction, Pronovias has set its sights on achieving sales of 200 million euros by 2025. To accomplish this goal, the company has outlined several strategies, including expanding its presence in the United States, enhancing its digitalization efforts, and offering a wider range of brands in Europe. Despite the challenges faced during the pandemic, Pronovias managed to record revenues of 150 million euros in 2022, indicating a return to pre-pandemic levels.

Under the leadership of CEO Amandine Ohayon, who recently took the helm as part of the new board of directors, Pronovias is enthusiastic about its future prospects. The company remains fully committed to providing high-quality bridal fashion to its customers worldwide.

For more information on Pronovias and its recent capital injection, please visit their official website here. Additionally, for further insights into the bridal fashion industry, you can check out this informative article here.