Black Toro invests €30m in Carbures

The investment will either be structured as a capital increase or a convertible loan. The latter option would result in Black Toro owning an additional 17.1% stake in the company.

Following completion of the deal, Carbures will look to ramp up its production in response to new orders placed by Airbus and Boeing.

The business has undertaken an acquisitive growth strategy over the past two years, having acquired automotive specialists Mapro, Axcep and Technical and Racing Composites in 2014.

Previous funding
Black Toro invested €8m in Carbures in January 2015, with the funding structured as a three-year convertible loan with a 6% rate. The investment has since resulted in BTC owning a 7% stake in the company.

Company
Headquartered in Cádiz and founded in 2011 with the merger of Composites Atlantic and Easy Industrial Solutions, Carbures is a provider of carbon fibre manufacturing and engineering services.

Following various acquisitions and partnerships, the company has manufacturing facilities in Spain, the US, China, Poland and Mexico, in addition to offices in Spain, the US and Germany.

People
Ramón Betolaza is managing partner at Black Toro. Rafael Contreras is the president and founder of Carbures.

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