Black Toro-backed Torrot bolts on Gas Gas for €9m

Following the deal, Torrot plans to expand further in the European market.

Black Toro acquired Gas Gas through a liquidation process and will restart production immediately, unquote" understands. As part of the deal, Torrot's management team will lead the combined entity, with a single manufacturing facility, while maintaining separate design and marketing strategies for the two brands.

In November 2015, Black Toro bought Spain-based Torrot for €15m, converting the business to target the urban electric mobility sector.

The Black Toro Capital Fund II vehicle targets mid-sized Spanish companies with the opportunity to expand internationally. Launched in November 2015, the vehicle held a first close on €136m in December 2015. The fund has a €350m target with a €400m hard-cap.

Company
Gas Gas was founded in 1985 and is now based in Girona. The business focuses on professional and amateur motorbike production in both the trial and enduro markets. It distributes its products to 56 countries.

People
Black Toro Capital – Ramon Betolaza (managing partner).
Torrot – Ivan Contreras (CEO).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Spain
• Build-up