Kirkland & Ellis represented Bayside, a credit affiliate of H.I.G. Capital, as the largest lender in the restructuring of the Bodybell group of companies, through a Spanish court process known as a homologación.

The homologación was subject to a challenge by a minority dissenting lender and, in conjunction with Spanish counsel, Kirkland successfully defended the challenge in its entirety, allowing the restructuring to be fully implemented. Through the restructuring, Bayside took control of the Bodybell group and reduced its total debt burden from over €235 million ($260 million) to approximately €50 million ($55 million). The restructuring closed on October 5, 2016.

Bodybell is a cosmetics retailer based in Spain.