Black Toro Capital

Black Toro Capital is a Madrid-based investment firm established in 2011 that specializes in rescuing and stabilizing mid-sized companies in Spain and Southern Europe. The firm focuses on providing both equity and debt services to companies in sectors such as biotechnology, manufacturing, retail, and technology. Black Toro Capital invests throughout the capital structure, utilizing new capital injections and purchasing discounted securities to improve the balance sheets of target companies. The firm seeks to support mid-sized enterprises that have a viable and proven business model but are facing financial and liquidity challenges, often due to insufficient leadership or control by traditional private owners and financial institutions.

Ramon Betolaza

Managing Partner

Juan Herrero

Associate

Jose Manuel de la Infiesta

Founding Partner

Isaac Lahuerta

Principal

Juan Naranjo

Principal

Álvaro Rodríguez-López

Associate

Enrique Sanz

Operating Portfolio Partner

10 past transactions

ADL Biopharma

Acquisition in 2015
Antibióticos de León is a clinical stage-biopharmaceutical company developing and producing biological products for the pharmaceutical and veterinarian sectors. It specializes in the prevention and treatment of niche diseases, such as orphan disease, antigens for new generation vaccines, feed additives and probiotics. Adl Bionatur offers a portfolio of non-therapeutic and therapeutic products to tier 1 and tier 2 animal health companies. The company's pipeline products include BNT006, BNT007, BNT010, and others.

Carbures

Funding Round in 2015
CARBURES is a technological industrial group specialized in the manufacturing of composite parts and structures and in designing engineering systems, which operates in the aerospace, automotive, civil works, railway and security industries. Founded in 1999, CARBURES has developed its own technological and manufacturing processes to produce composite structures, allowing the Company to branch out into different industries. Its own know-how gives the Company an unlimited applicability of the manufacturing processes with composites.

FARGGI CAFE

Private Equity Round in 2017
Farggi is an ice-cream manufacturer with more than 60 years of history, a well-known premium brand (“Farggi”) and a strong reputation as private label manufacturer for top quality retailers.

Papeles El Carmen SA

Merger/Acquisition in 2015
Papeles El Carmen SA designs and manufactures paper and plastic packaging products. It offers paper material products, including flat paper bags, twisted handle paper bags, luxury bags, and paper materials for industrial use; plastic material products, such as flat market bags, carrier bags, plastic and polypropylene envelopes, die-cut handle bags, soft loop handle bags, plastic materials for industry use, cord handle bags, vacuum bags, and isothermal bags; and packaging products with other materials comprising raffia, non-woven, cotton and PVC, nylon and polyester, recycled PET, and recycled PET laminated products. The company also provides food grade paper products, such as two layer paper, laminated paper, custom aluminum foil, plastic paper, window paper, and silicone baking paper products; retail paper products; garbage bags; thermal cash register rolls; polyester roller, organic cotton, reusable, jute, cotton bottle, white cotton cellulose bottle, kraft twisted, cellulose twisted, and kraft natural cotton bags; and T nonwoven, die cut non-woven handle, and non-woven tape bags. Its customers include retail shops, grocery trades, and industrial processes. The company was founded in 1978 and is based in Alzuza, Spain.

MaryPaz

Venture Round in 2016
INDUSHOES, S.L. operates as an online retailer of footwear and bags. The company was incorporated in 1997 and is based in Seville, Spain. As of November 29, 2019, MaryPaz operates as a subsidiary of Crocea Mors.

Irestal Group

Acquisition in 2015
Irestal Group engages in the production and supply of stainless steel products. Irestal Group specializes in supplying stainless steel in its various forms such as sheets, coils, tubes, bars, rods, accessories, and more. Irestal Group is a distributor and service center of flat and tubular stainless steel products. The company invests in the technology and staff training. Customer service is the aim and providing an efficient, flexible, and dynamic service which will keep the company as one of the service centres for stainless steel. The company was founded on 1945.

Good Job Business, S.L.U.

Merger/Acquisition in 2019
Good Job Business, S.L.U. owns and operates a chain of women’s clothing stores. The company sells its products through stores and online. Good Job Business, S.L.U. was founded in 1985 and is based in Madrid, Spain.

Carbures

Funding Round in 2015
CARBURES is a technological industrial group specialized in the manufacturing of composite parts and structures and in designing engineering systems, which operates in the aerospace, automotive, civil works, railway and security industries. Founded in 1999, CARBURES has developed its own technological and manufacturing processes to produce composite structures, allowing the Company to branch out into different industries. Its own know-how gives the Company an unlimited applicability of the manufacturing processes with composites.

Gas Gas

Acquisition in 2016
Right from its beginnings, in 1985, the Gas Gas history has always been an off-road story. The Gas Gas presence in both national and international competitions has produced a long list of victories in the world of trial, enduro and raids. After being purchased by Grupo Torrot Electric in early 2016, the company from Girona has undergone a renaissance as a brand whilst conserving its corporate image as a manufacturer of off-road products. A prestigious collective image, which after three decades of shared history and dreams in the factory in Salt, is still intact in the eyes of all its off-road fans. Now Gas Gas quality products are present in five continents and over fifty countries. The company from Girona offers a wide range of products to satisfy all the needs of the lovers of off-road in all its varieties