Black Toro Capital 'injects' eight million in Carbures to consolidate its growth project.

• The fund has granted a loan of EUR eight million with an interest rate of 6 percent.

• BTC has also declared its interest to become, in the medium term, an important shareholder of the Company.

• Carbures has raised EUR 25 million in less than two months, more than the amount raised during the process to be listed on the MAB.

Madrid, January 20, 2015-. Black Toro Capital (BTC), an investment fund focused on the stabilization and growth of Spanish mid-sized companies, has invested in Carbures, a specialized manufacturer of parts and structures made of composite materials, as carbon fiber. This show of confidence by the international investment fund in the Company has been formalized through an EUR 8 million loan, with a three-year interest rate of 6 percent. The objective of the operation is to support the organic growth and business plan of Carbures.

BTC has declared its firm intention to become a stable shareholder of the Company and replicates, for the second time in Spain, its unique business model, whose success has been proven for over 15 years in the international markets. The president of Carbures, Rafael Contreras, commented: "We are very grateful to Black Toro Capital for the show of confidence that this capital injection is for the Company. This new private funding confirms that the Company has the market credibility to capture the necessary financial resources to continue to be operative. Carbures continues to grow and fulfil client orders, both in 2015 and for subsequent years, thus contrinuing to generate value for its shareholders and investors."

According to Ramón Betolaza, Black Toro Capital's Mananging Partner: "This commitment to a Spanish innovative and technology company such as Carbures marks the entry of BTC into a sector with great potential for international growth and confirms our commitment to the Spanish industrial companies. We aim to be strategic partners of Carbures and develop together new scopes for international development." After this operation, Carbures has been able to raise EUR 25 million in less than two months and it consolidates, apart from its necessary funding for the year, its organic growth.

This is Black Toro Capital's second investment within the last three months, following its EUR 35 million investment in Antibióticos de León, with the aim of making it the leading antibiotics and other biotechnological products producing plant in Europe. Both investments confirm BTC's capacity to mobilize resources and its commitment to the recapitalization and expansion of the Spanish industrial companies, reinforcing their growth potential and fostering their development towards international markets.

Unlike other private equity investors, BTC's philosophy stays away from opportunistic and leveraged transactions, focusing on working together with the company through direct capital injections, which ensure the growth and expansion of the company.