Black Toro Capital

Black Toro Capital is an investment firm based in Madrid, specializing in the rescue and stabilization of mid-sized companies in Spain and Southern Europe. Established in 2011, the firm focuses on providing both equity and debt solutions to companies in sectors such as biotechnology, manufacturing, retail, and technology. Black Toro Capital employs a strategy that includes capital injections and the purchase of discounted securities to help deleverage and stabilize the financial positions of targeted companies. It specifically seeks to support firms with viable business models that are facing financial challenges, often due to leadership issues or ownership by traditional private owners or financial institutions.

Antonio Macias

Principal

8 past transactions

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.

MaryPaz

Venture Round in 2016
MaryPaz is an online retailer specializing in footwear and bags, incorporated in 1997 and based in Seville, Spain. The brand has established itself as a leader in the Spanish market, operating over 365 outlets across the country. Focused on providing stylish and affordable products, MaryPaz caters primarily to a young audience, offering a diverse range of items that include sports shoes, formal footwear, and party attire, as well as a complementary collection of bags. The company's success is attributed to its commitment to customer satisfaction and its highly qualified workforce, which leverages modern technology to meet the evolving needs of its clientele.

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

Irestal Group

Acquisition in 2015
Irestal Group S.A. is a manufacturer and supplier of stainless steel products, providing a wide range of offerings including flat products like coils, sheets, plates, and special alloys, as well as tubular products such as pipes and tubes. The company also produces various types of bars, fittings, and offers customized cutting and finishing services. Established in 1945 and headquartered in Barcelona, Spain, Irestal Group serves diverse sectors including chemical, pharmaceutical, food, automotive, computer, and construction industries on a global scale. With additional locations in countries such as China, France, Poland, Portugal, Russia, the United Kingdom, and the United States, the company is committed to delivering efficient and flexible customer service through its network of service centers and advanced manufacturing facilities.

Papeles El Carmen

Private Equity Round in 2015
Papeles El Carmen, established in 1948 and based in Alzuza, Spain, is a vertically integrated manufacturer specializing in the design, production, and commercialization of flexible packaging solutions. With stable annual sales of €30 million, the company employs 205 individuals and serves a diverse client base of over 10,000 customers, including major supermarket chains and small to medium retail stores. Its product range includes paper bags, garbage bags, and various plastic and paper materials. The company operates three manufacturing facilities covering over 25,000 square meters, featuring a multiproduct plant equipped for four-color printing, alongside additional plants dedicated to paper wrapping and rubbish bags.

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.

ADL BioPharma

Acquisition in 2015
ADL Biopharma, based in León, Spain, is a biopharmaceutical company that develops and produces active therapeutic substances for both the pharmaceutical and veterinary sectors. Founded in 1954, the company specializes in creating products through fermentation processes, manufacturing sterile antibiotics, 6-APA derivatives, and various oral and sterile mixtures. ADL Biopharma focuses on the prevention and treatment of niche diseases, including orphan diseases, and offers antigens for new generation vaccines, as well as feed additives and probiotics. Its product portfolio serves tier 1 and tier 2 animal health companies, and the company is advancing several pipeline products, such as BNT006, BNT007, and BNT010, showcasing its commitment to innovation in biopharmaceuticals.

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.
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