Javier de Rojas Roca de Togores
Managing Partner
Javier de Rojas Roca de Togores is Managing Partner of Maraz Corporate Finance, the firm he founded in 2013, advising Spanish middle-market and family businesses on sale and purchase processes, valuation, financial planning and corporate strategy. He holds a degree in Economics and Business Administration from the University of Alicante and an MBA from IE Business School. He has over 30 years of experience in financial management and corporate finance: he was CFO for Spain at SCR Sibelco, CFO of Grupo Jofel Industrial, and between 2017 and 2021 was Managing Director at Clairfield International, a global M&A advisory network. He previously worked as a financial controller in industrial groups and as an auditor at Grant Thornton. He authors the financial insight content on maraz.es and acts as an economic-financial expert witness.
LinkedIn
Education
Degree in Economics
Master's / postgraduate
MBA from Instituto de Empresa, Master's in Financial Auditing
Certifications
Expert in Business Valuation from IEB, Expert in Corporate Restructuring from IEB
Years of experience
34
Articles by Javier de Rojas Roca de Togores
Debt-to-Equity Swaps in Corporate Restructuring: How to Avoid Losing Your Company
The tool that rescues an over-indebted company and that, since 2022, creditors can impose without a shareholder vote. When to convert, how it is taxed and what the owning family must do to avoid being left out.
Change of Control Clauses: the silent impact in M&A
The risk that sits not in the bylaws or the balance sheet but in contracts with banks, customers and landlords. Where they hide, how buyers price them in and what to do before selling.
Early Warning Financial Indicators for Companies | Maraz
Companies do not fail overnight: they give warning. The ratios that anticipate a liquidity crisis months in advance, which thresholds to watch and what to do as soon as one turns.
Customer, product and range mix
Two euros of sales are not worth the same. How to measure which customers, products and SKUs create margin and which consume cash, and how to reshape the mix to earn more selling the same.
Why companies fail
Companies do not fail because they run out of cash: they run out of cash because margin, working capital or an investment decision failed first. The real causes, in order of frequency, and how to spot them in time.
Family Protocol for the family business: What It Is, what to Include and mistakes to avoid
A family protocol only protects the business if its key agreements (transfer, valuation, liquidity and governance) are enforceable. What it must include, what stays on paper and the most expensive mistakes.
