Black Toro Capital Fund II (BTC) , focused on the stabilization and growth of Spanish mid - sized companies, closes its fourth investment for BTC Fund II w ith a € 30m commitment into Marypaz ( MYP ) , Spain’s leading women's fashion shoe retailer .

BTC ́s investments completes Marypaz ́s internal restructuring by rationalizing its store network, reducing fixed costs and optimizing the international supply chain . Additio nally, MYP has reached an agreement with the majority of its creditors , which , together BTC investment, will allow the company to return to pre - crisis growth levels. Focus will continue to be in delivering fashionable, value - added products to its young, ur ban clientele and to refocus the company ́s international expansion both through own stores and master national franchises.

This investment will result in a controlling stake in MYP of circa 60% of the equity structured through an initial €10m equity inj ection i nto the company to improve its working capital capacity and an additional €20m investment through a convertible security.

Ramon Betolaza, Black Toro Capital’s Managing Partner commented: “It’s a great opportunity to invest in one of Spain’s leadin g players in the segment of trendy footwear . We will continue to work with the c ompany ́s founding family to restore Marypaz ’s profitability and ensure its continued growth and leadership ”.

This investment confirms BTC’s capacity to mobilize resources and its commitment to the recapitalization and expansion of Spanish companies, reinforcing their growth potential, providing financial support as well as fostering their access to international markets.

BTC Fund II has invested over €70 million during the last 9 months into four prime examples of Spain’s industrial landscape : Antibióticos de León, Torrot and Gas - Gas, Carbures and Marypaz, each a leader in its field and a showcase of BTC’s investment strategy.

Black Toro Capital has a clearly significant advantage in its investment space due to the proven experience and track record of its investment team in identifying and executing investments and a unique proprietary deal flow pipeline.

Marypaz

Marypaz is a family owned business specialized in women's shoes and accessories, headquart ered in Seville (Spain) and €97 m of sales in 2015 and 6m pairs sold in 2015 . The company was founded i n 1972 and it has become the second largest retail fashion player in Spain.

It has presence in Spain, Portugal, France, Emirates, Egypt, Guatemala, Honduras and Dominican Republic, employing more than 1,500 people. It leases 221 stores in Spain, 34 internationally, 49 franchises and an online shop.

It operates under the single brand Marypaz an d it is perceived by its customers as a modern and accessible brand. To c over different market segments i t has created several lines of business, the most relevant being Woman (adult women), Trendy (young women) and Girl (little girls).

The business model is based on developing proprietary designs, good value for mo ney, high number of SKUs with more than 700 SKUs per season and an extensive network of stores. http://www.marypaz.com/

BLACK TORO CAPITAL

Black Toro Capital , based in Barcelona, Madrid and London, is a private equity group focused on providing flexible capital solutions for mid - sized companies in Spain by structuring investments thr oughout the capital structure. I nvestments are arranged in the form of debt, equity and equity - linked instruments as well as discounted securities purchases to de - leverage and recapitalize companie s’ balance sheets. BTC looks to partner up with existing owners and stakeho lders of “good” companies with viable and proven busine ss model s undergoing financial and liquidity constraints as well as strategic leadership and ownership misalignments. www.blacktorocapital.com

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