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SEVILLE, Spain, May 9, 2024 /PRNewswire/ — The Seville multinational Persán, European leader in the production and commercialisation of detergents and fabric softeners, ended 2023 with record invoicing of 811 million euros. This figure signifies growth of 22% compared with the previous financial year. The company has tripled its revenues in the last four years. It ended 2019 with 290 million euros; this figure increased to 423 million in 2020, 503 in 2021 and finally 665 million at the end of 2022.

The company managed to end the latest financial year with EBITDA of 55 million euros. It is a positive evolution that has allowed Persán to recover its losses from 2021 and 2022 due to the situation of inflation in the raw materials and energy markets.

The growth of the company, presided over by Concha Yoldi and with Antonio Somé as CEO, is explained by the increase in sales of all its product categories. In this way it has strengthened its leadership in home care at a European level and has increased its market share in the personal care sector. The company’s internationalisation plan, starting in 2019, has contributed to this progress, facilitating the arrival of its products on five continents.

In parallel, the multinational maintains its commitment to the development of its factories in Seville, Poland and France. In 2023 it invested a total of 46 million euros. Notable milestones were the completion and commissioning of the new Wróblowice plant in Poland, and the construction of the new bottle factory in Seville. In the last three years, investment for the modernisation of its work centres has exceeded 100 million euros.

Closer to being a ‘one billion’ company

The CEO of Persán, Antonio Somé, has highlighted the figures of the 2023 financial year: “We continue to get closer to the objective proposed a few years ago, of being a ‘one billion’ company. We must be satisfied with the results obtained, and for that reason we must congratulate our employees and thank all stakeholders for their support. We continue to be focused on our long-term objectives and are already creating the Strategic Plan for the next three years, which will consolidate our leadership in Europe and allow us to expand into other regions.”

Photo – https://mma.prnewswire.com/media/2408786/Persan_factory.jpg

Contact:
Sara Medina
+34 647 68 19 03

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NEW YORK and LONDON, May 9, 2024 /PRNewswire/ — Avenue Capital Group today announced the successful final closing of the Avenue Europe Special Situations Fund V (the “Avenue Europe Fund”). Together with separately managed accounts, over $1 billion of commitments have been raised for the Avenue Europe Fund from a broad range of existing and new investors, including public and corporate pension plans, sovereign wealth funds, asset managers and family offices.

The Avenue Europe strategy is focused on providing senior secured, asset-backed loans to structurally underserved borrowers across Northern Europe. As traditional lenders have reduced their lending in certain areas of the market, there is an attractive opportunity for alternative lenders with established capabilities. The Avenue Europe team leverages Avenue’s origination platforms and long-standing presence in Europe to generate a large volume of recurring lending opportunities in these market niches which are generally less competitive and have high barriers to entry.

Avenue is an established investor in Europe. The firm launched its dedicated presence in the region in 2004 and has since deployed more than $26 billion in European special situations and credit investments. Today, its Europe team of investment professionals operates from a London headquarters and offices throughout the region, overseeing close to $4 billion in investments across a range of investment vehicles focused on Europe.

“We are gratified to have received such strong support for the Avenue Europe Fund from our existing and new investment partners,” said Marc Lasry, CEO and Co-Founder of Avenue Capital Group. Jon Ford, Senior Portfolio Manager and Head of Avenue’s Europe Strategy, added, “We are confident in our ability to deliver attractive and differentiated returns. Our pipeline of lending opportunities continues to significantly exceed our available capital.”

“The support from our investors will allow us to continue to target a compelling opportunity in European asset-backed lending,” said Padraig Moore, Senior Portfolio Manager. “We look forward to growing the Avenue Europe business as we see an incredible number of opportunities in our area of expertise in the market.”

The Avenue Europe Fund has drawn over 50% of committed capital and is expected to be fully committed within the next 12 months.

About Avenue Capital Group
Avenue Capital Group is a global investment firm focused primarily on making opportunistic credit and other special situations investments across the United States, Europe and Asia. Avenue, founded in 1995 by Marc Lasry and Sonia Gardner, draws on the skills and experience of over 60 investment professionals, and more than 180 employees worldwide operating from its headquarters in New York and three offices across Europe, four offices throughout Asia, an office in Silicon Valley and an office in Abu Dhabi. Avenue has assets under management of approximately $12.2 billion.

Media Contact: Todd Fogarty, Kekst CNC. [email protected] or +1 917 992 1170

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