Black Toro Capital invests 30 million in Carbures

New sign of confidence in the Company’s business and industrial growth plan  

 •Black Toro Capital’s investment amounts to 40 million Euros in the Company so far this year with the aim of promoting its industrial growth.  

•Before the 20th October, Carbures will decide which financial formula to execute in order to make the investment effective: an increase in capital or a loan convertible in shares  

Madrid, 1st September 2015-. Black Toro Capital (BTC) reiterates its confidence in Carbures as a strategic financial partner. The investment fund specialised in the growth of medium-sized Spanish businesses, which currently holds 7.04 per cent of Carbures’ capital, has signed a new investment agreement with the industrial group specialised in the manufacture of parts and structures using compound materials, such as carbon fibre, for which it will invest 30 million Euros in the Company before the 20th October.

According to the signed agreement, BTC’s contribution of 30 million Euros will be

made by means of an increase in capital before the 20th October 2015, or, alternatively, on the same date, by means of a loan convertible in Carbures shares and the Company will be the one who decides which format. Assuming that the second option is used, the capitalisation would be carried out by the issue of 20 million new Carbures shares, which would represent 17.11 per cent of the Company’s capital. The price of these new shares for BTC would be 1.5 Euros per share.  

With this financial investment, Carbures has the necessary resources to continue growing as a company and face the foreseen necessities of organic growth in order to attend to the increasing demands of orders, in the aeronautic, car and civil works sectors.  

“Solid and constant industrial growth”

With this operation, Black Toro Capital’s investment in Carbures amounts to a total of 40 million Euros so far this year. During the act of signing the financing contract, Ramón Betolaza, BTC’s Managing Partner, affirmed that “Carbures is a company with a strategic positioning in the global market of the manufacture of structures using compound materials and it has technological advantages over the rest of the companies, giving it a huge potential for growth. The Company has a perfectly defined road map, with plans for solid and constant industrial growth with the aim of becoming a leading global company in the compound materials sector. The ramp up, the escalating industrial production, has increased with orders from aeronautical companies such as Airbus and Boeing, which has led to Carbures’ consolidation as leader of this sector”.  

“As for the big car manufacturers, when they incorporate compound material parts in their vehicles, Carbures will see how its production will multiply due to the effects of substituting metal for carbon fibre in components. At BTC we have a clear vision

BTC  BLACK TORO CAPITAL  and so we continue to support Carbures and its President and founder, Rafael Contreras, in their growth and development”, adds Betolaza.  

For their part, the President of Carbures, Rafael Contreras, affirms that, “with this operation, Black Toro Capital has become an even stronger strategic financial partner of Carbures, we are very grateful to them for the confidence they have shown in us”. Contreras adds that, “in this way the Company obtains the necessary financial resources to continue moving forward in very favourable industrial surroundings.” Contreras adds that, “Carbures continues to manufacture technology, parts and structures using compound materials for its customers and works to continue growing in the global market, thereby continuing to generate value for its shareholders and investors”.  

This operation is an outstanding strengthening of Grupo Carbures’ own resources, which increase by 30 million, thus enabling the company to execute its Business Plan from a solid capital structure.  BLACK TORO CAPITAL  Black Toro Capital, with offices in Barcelona, Madrid and London, is a Spanish investment fund specialised in the direct investment in Spanish business to promote the fulfilling of their business plan and to propel both their organic and inorganic growth. BTC identifies and structures investments in companies which require the necessary financial resources to continue growing industrially. The firm contributes mid to long term ‘patient’ capital to businesses, a model that helps to reinforce the Spanish social-economic and industrial corporate world.

Carbures is an industrial group specialised in the engineering and manufacture of structures using compound materials, such as carbon fibre, for the sectors related to mobility, such as aeronautics, cars, rail, sports and civil works. Over the last decade, Carbures has developed its own technology which has positioned it as the leading Company in Europe in the manufacture, both in long and short series, of fibre carbon parts for aeroplanes, cars, trains, bicycles and construction girders.