Araoz & Rueda advises Black Toro Capital on its investment in Calzados MaryPaz

• The private equity fund acquires a majority stake in the largest Spanish network of shoe stores, with more than a thousand employees and about two hundred shops

Araoz & Rueda, under the leadership of partners Alejandro Fernández de Araoz and Guillermo Yuste and senior associate Andrés Mochales, has advised private equity fund Black Toro Capital on the acquisition of a majority stake in Calzados MaryPaz.

Black Toro Capital has reached an agreement with the Seville company to inject EUR 30 million that will allow the group, owned by the Aguaded family, to come out of administration. MaryPaz, advised by a Cuatrecasas, Gonçalves Pereira team led by Fernando Torrente and Camila Salazar-Simpson, will maintain a minority equity package and retain management control of the company.

The cash injection will be delivered in two different phases. The first one will guarantee the purchase of items for the autumn/winter season. The second phase, more strategic and for a greater amount, will serve to enhance the company´s strategic plan, especially abroad. This payment will be made once the agreement with creditors is approved and the company is out of administration, which is expected for the first quarter of 2017.