Phibowhich is owned by the management company of private equity Nazca Capitalhas agreed with the banks to adjust its financial structure.
Nazca Capital's entry into the company's shareholder base took place in 2018 with a capital increase 12 million, obtaining a majority stake of 55%.
The García Sabán brothers, founders of Phibo, continue to hold a stake of more than 40% and are on the board of directors of the multinational.
Phibo founded in 1986, is the leading Spanish company in implantology solutions, CAD-CAM prosthesis manufacturing and integral solutions for the complete digitalisation of the dental sector.
The company sells its products in more than 25 countries and employs 275 workers in two factories, one in Sentmenat del Vallés (Barcelona) and the other in Bogotá (Colombia). In other words, it is a company with a broad international presence, its main markets being Southern Europe, Mexico, Colombia and Chile.
Phibo has always been characterised by its vocation for innovation, with R&D being one of the fundamental pillars of its strategy, which has placed the company at the technological forefront of the sector.
The restructuring agreement implies that both Nazca Capital and the García Sabán family (Phibo's founders) will carry out a capital increase of EUR 2 million. In addition, the banks will provide liquidity lines of €5 million.
The funds raised will help stabilise the company's liabilities, which currently stand at almost EUR 30 million, as well as meet this year's maturities.
The Catalan company already carried out a restructuring in June 2017. Phibo restructured a bank debt of €28 million, after it had been strangled as a result of the impact of the group's crisis. Vitaldentwhich stopped paying all its invoices. Thanks to this operation, the company specialising in implants and prostheses was able to gain momentum and to face the repayment of the debt with greater peace of mind.
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