Cosmetics packaging company Quadpack has signed a new 38 million financing agreement with a leading syndicate of regional and international banks. The financial institution leading the deal, as the company itself announced in a press release, was Deutsche Bank, with Caixabank, BBVA, Ibercaja and Institut Català de Finaces, Catalonia's public financial institution, acting as arrangers of the deal.
Alex Chauvigné, CEO of Quadpack, said in the press release that this is an important deal and a significant step for the company in line with its roadmap and strategic plan.
Quadpack explained that this agreement aims to simplify the financial structure and accelerate the repayment of payments and loans requested during the Covid crisis in 2020 with Spanish and German banks.
Bardo Bevelander, Quadpack's CFO, said they are pleased to have the financial support of major banks and financial institutions that show confidence in the company.
Toni Martinez, who is with Deutsche Bank, said: "This agreement demonstrates how collaboration between banks and businesses can lead to highly customised solutions that support a company's strategy and growth." Martinez also referred to Quadpack's big challenges, ambitions and growth plans.
The international manufacturer and supplier of cosmetic packaging closed the 2022 financial year on 31 January with an ebitda of 12.6 million euros. This figure represents an increase of 65% compared to the previous financial year's figures. The improvement also extended to the income statement, as it restored the €2.3 million lost in 2021 to a net profit of €1 million. In terms of turnover figures, it posted a revenue of 142 million euros, which was the highest figure in its history, reflecting a 34% increase on the 106.4 million euros of the previous season.