BC Partners Agrees to Transfer Control of Bridal Co. Pronovias to Bain Capital, MV Credit

Bridal fashion company Pronovias Group is set to fall into new hands. The company announced that its main shareholder, alternative investments firm BC Partners, along with a vast majority of its senior and junior creditors have reached an agreement to recapitalize the Barcelona-based group.

Financial terms of the transaction were not disclosed. The transaction is expected to close in early 2023.

Majority ownership of the conglomerate will be passed to a newly formed consortium of investors led by Bain Capital and MV Credit.

As a result of the change in ownership Pronovias is expected to significantly reduce its debt. The remaining debt maturities will be extended to provide the group with the necessary margin to execute its business plan.

Amandine Ohayon, executive director of the Pronovia Group, said, “The group is now going to have greater strength and the financial capacity necessary to accelerate our business plan.”

For his part, Sandro Patti, CEO of Bain Capital, highlighted its importance as a “financier of Pronovias for several years.” “We know the business well. With its commitment to cutting-edge fashion, innovative designs, high-quality fabrics and personalized service, the company is well positioned to become the bridal brand of choice in the post-pandemic wedding boom.”