{
  "id": 9533734,
  "title": "Lone Star considers debt restructuring or sale of Italian coffee-machine maker Evoca",
  "url": "https://urgent.news/2026/09/24/lone-star-considers-debt-restructuring-or-sale-of-italian-coffee",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T09:29:02.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://www.privateequitywire.co.uk/lone-star-considers-debt-restructuring-or-sale-of-italian-coffee-machine-maker-evoca/"
  },
  "original_language": "en",
  "account": "Lone Star Funds, a private equity firm, is considering strategic options for Evoca, an Italian coffee-machine manufacturer, according to Bloomberg. These options include a potential debt-for-equity restructuring with creditors or a sale of the company. The firm has held initial discussions with creditors Carlyle and Park Square about converting their debt into equity, although no agreement has been reached yet. PJT Partners, an advisory firm, is assisting Evoca in evaluating its options. Evoca, which manufactures coffee machines used in hotels, cafes, and offices, is grappling with a significant debt burden. Following a decline in its financial performance, the company owes €400 million in payment-in-kind notes to Carlyle and Park Square, which were initially provided in 2019. Additionally, the company holds €550 million in notes due in 2029. Evoca's shares were trading at approximately 89 cents on the euro on September 23rd. The company's financial struggles prompted Fitch to downgrade its credit rating to B- in June, classifying it as high-yield debt. The downgrade is attributed to a 16% drop in revenue in 2025, which was worse than expected, and a debt-to-earnings ratio of 8.2 times at the end of the year. Despite the challenges, Evoca has undertaken a cost-reduction program, which resulted in improved revenue in the second quarter, rising 14% year-over-year in the three months ending June.",
  "summary": "Lone Star Funds is exploring strategic options for Evoca, including a potential debt-for-equity restructuring with creditors, or a sale of the Italian coffee-machine manufacturer, according to a report by Bloomberg.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}