The Mantero Group, the historic textile group founded in 1902 and owned by the same name family headed by Franco Mantero, the representative of the fourth family generation, closed 2018 with revenues up to 88 million, 9% EBITDA and profits amounting to 4.5 million so successfully completing its restructuring process started in 2014 and characterised, from year to year, by growth revenues and EBITDA and general success.
The Mantero Group, thanks to the industrial and commercial strategies implemented since 2012, definitively and formally closes a delicate stage and reached economic-financial targets even better than expected, gaining full economic, equity and financial balance. This has enabled the acceleration of the repayment of the residual debt towards the financial creditors and the anticipated overcoming of the restructuring agreements signed at the time.
In this rediscovered context of balance and industry leadership, the Mantero Group has developed a new 2019/2023 business plan aiming at the continuous growth of turnover and profits through product innovation and development of new markets, and the planning of investments in new technologies with particular focus on digital, eco-sustainability and training and development of human capital.
The new investments will be supported also through three loan agreements, signed with three of the major Italian banks.
The reorganization of the debt exposure and the rebalancing of the economic, financial and equity structure have been verified, with an independent opinion, by Andrea Tavecchio, a professional certifier pursuant to Art. 67, third paragraph, letter d) of Bankruptcy Law of the Plan.
The early repayment of the residual debt to financial creditors, with the overcoming of the restructuring agreements and the stipulation of the new loan agreements, was finalized with the assistance of Giovanardi Pototschnig & Associati with a team composed of partner Marco Marinoni, counsel Giulia Quarato and associate Marco Sola.
The new loans agreement will allow the Mantero Group to focus on the consolidation and further strengthening of its leading position in the creation, production and distribution of textile and textile men/women’s luxuries into its story of creativity and production perpetuating since 4 generations.