Editorial Vicens Vives obtains a loan of 16.2 million from Cofides

Just a week before the end of the European exception framework that allows certain public aid to companies, the Catalan publisher Vicens Vives, a reference in the publication of educational books, has obtained 16.

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NewsEditor
24 June 2022 Friday 15:22
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Editorial Vicens Vives obtains a loan of 16.2 million from Cofides

Just a week before the end of the European exception framework that allows certain public aid to companies, the Catalan publisher Vicens Vives, a reference in the publication of educational books, has obtained 16.2 million long-term credits from Cofides for shore up a balance sheet affected by the consequences of the pandemic crisis and finance its digital transformation.

The aid is articulated through a participative loan for 13.4 million and another ordinary for another 2.8 million. Last March, Vicens Vives, advised by KPMG, withdrew her request for help from the solvency fund managed by SEPI, from whom she had requested 25 million, and transferred her file to Cofides, which has been resolved relatively quickly.

Editorial Vicens Vives, founded in 1961 by Roser Rahola de Espona and his son Pere Vicens Rahola, is a leader in Spain in subjects such as geography and history and in publishing Hispanic and universal classics. It is, of course, a strategic company that develops its activity in a key sector, education, dominated by multinationals. Since 2021, it is 100% owned by Pere Vicens, who already had 25% and who bought the rest of the shares from his brothers.

Now, with the granting of aid, Vicens Vives gains muscle and calm. The company has some 300 workers in Barcelona, ​​Madrid, Seville, Granada, Valencia, Logroño, A Coruña, Palma de Mallorca and Tenerife, as well as Mexico, Colombia, Peru and Chile.

The pandemic left her touched. In 2019, she had invoiced 30 million, earned money and had 400 workers. Everything achieved until then was put at risk and sales, which had reached 40 million, fell to 26 million. Jaume Vicens, CEO of the firm, reports that they have had a very bad time. “That's why we are so grateful to those who have helped us get ahead,” he says.

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