Dymag to supercharge growth in 2019

Dymag Group, the British designer and manufacturer of carbon hybrid automotive wheels, is predicting a record 2019 as a £3.6m investment closed by Puma Private Equity, the private equity division of Puma Investments, fuels its global growth plans.

Dymag, which employs 32 skilled staff at its base in Chippenham, Wiltshire is set to expand its operations in Chippenham, with a move to larger premises in early 2019 and the creation of a significant number of new jobs across its design and production capabilities. This investment will also support faster delivery of its pipeline of product development and bring further innovations into its manufacturing processes to match the growing demand for carbon hybrid technology.

The British firm is already working with several of the world’s leading performance original equipment manufacturers (OEMs) and has a growing aftermarket presence with regional strategic partners including Forgeline, Brixton Forged and ADV.1. Dymag sees this partnership strategy as integral to global growth, developing co-branded aftermarket products, bespoke tuner products and OEM projects across key markets and territories.

Chris Shelley, CEO of Dymag commented:

“Following a comprehensive search for the right partner to help us at this stage of our development, we chose to work with Puma Private Equity given the team’s understanding of technology and manufacturing, plus their long-standing commitment to supporting British businesses.”

“We continue our goal of making Dymag the technology of choice available anywhere in the world. Working with strategically chosen partners enables us to tune our products and business model to the needs of each market. In North America we have partnered with Forgeline, Brixton and ADV.1 to bring our technology to market with performance and luxury wheel brands who know what their customers want. We have products in the pipeline for automobiles and motorcycles that serve OEM, aftermarket and tuner markets. And our commitment to racing and performance applications is unwavering.”

Tommy O’Sullivan, Managing Director at Puma Private Equity, advised on the investment of £3.6 million. Puma Private Equity advises Puma Investments on discretionary funding to SMEs across all sectors, and partners with management teams to accelerate business growth. So far this year, funds managed by Puma Investments have invested £25 million into seven companies. Speaking on this investment in Dymag, Tommy O’Sullivan said:

“Dymag is positively disrupting the automotive wheel market with its new carbon wheel products. Significant investment in its products and processes has strengthened the business and allowed the team to build on the brand’s long-standing motorcycle racing heritage. The company is now well- placed to accelerate growth and establish itself as the global leader in this niche market.”

Dymag is a global pioneer in carbon wheel technology, launching the first commercial carbon motorcycle wheel in 1996 and the first carbon hybrid automotive wheel in 2004. Its flagship is the BOXSTROM™ BX that comprises a patented carbon rim developed with the National Composites Centre in Bristol, UK, mounted with a high strength forged aluminium centrepiece, to produce a wheel that delivers unparalleled performance and highly flexible application capabilities without comprising safety, surpassing the strictest OEM laboratory and track testing.

Across the automotive industry the drive to reduce weight has become paramount. With OEMs turning to electric and hybrid engines or looking to optimise the efficiencies in petrol and diesel technology, there has been a flight to carbon; especially in tackling unsprung weight. As testament to this, leading OEMs including BMW, Rolls Royce, Porsche, McLaren and Ford have all launched carbon wheel programmes in recent years.

Dymag-Forgeline-wheelsThe BOXSTROM™ carbon hybrid wheel reduces weight by up to 50% compared to standard alloy wheels and improves moment of inertia by up to 60%. These unparalleled enhancements in performance are matched by uncompromising standards of safety, achieved via a number of unique design and technical features that are fully patent protected.

At the 2018 SEMA show, Dymag unveiled the BXF wheel which harnesses the performance and safety benefits of the BOXSTROM™, with the added versatility of a greater range of styling options for the aluminium centrepiece due to the flange technology. The BXF is aimed at the aftermarket and custom tuners, where wheel design and aesthetics are greatly desired.

Dymag would like to particularly thank WH Ireland who acted as its financial adviser and broker, sourcing the funds and advising upon the transaction and TLT for advising upon the legal aspects of the transaction.

Ends

 

For further information, or to arrange an interview with Chris Shelley, CEO of Dymag Group, contact:

Alister Foye, Leader Communications

+ 44 1789 739248

+ 44 7595 189964

alister.foye@leader.co.uk

 

For further information on Puma Private Equity, contact:

Alice Payne

+44 (0)20 7408 8141

alice.payne@pumainvestments.co.uk

 

About Dymag:

The innovative BOXSTROM™ carbon hybrid barrel improves all elements of driving performance through its patented design, which meets the highest levels of testing demanded by leading performance and luxury automotive OEMs, which are substantially more onerous than general aftermarket wheel testing. The BOXSTROM™ hybrid barrel is teamed with a Dymag designed high specification forged aluminium centrepiece. The result is a wheel that is up to 50% lighter than OEM cast aluminium wheels, with a corresponding 60% lower moment of inertia – meaning drivers will experience faster acceleration, sharper braking, as well as vastly superior road handling; all without compromising safety.

Started in the early 1970s, Dymag quickly moved to the technology pinnacle developing diecast magnesium wheels for Formula One and inventing the world’s first three spoke Magnesium motorcycle racing wheels. Dymag’s rich heritage on four and two wheels ranges from Formula 1, IndyCar, Rally/RAID, Moto GP, Superbikes, Isle of Man TT champions and race winners driving and riding to victory on Dymags, as well as many production Supercar manufacturers.

Building on their success, Dymag expanded into manufacturing Forged Magnesium wheels, Forged Aluminium wheels and finally developed lightweight Carbon Composite motorcycle and auto wheels with an equally enthusiastic response from bike and auto owners around the world.

The company was re-launched in 2011 after current CEO Chris Shelley and other key former employees took control of Dymag. Very soon after it was successfully involved in re-entering the motorcycle racing and aftermarket, supplying the winning BMW S1000RR ridden by Michael Dunlop in the 2014 Isle of Man TT, and leading British Superbike Teams, a victory repeated in 2016 with the faster ever lap at the IOM TT Senior Superbike race of 133.393mph average speed, and again in 2017 this time on the new Suzuki GSXR. In 2018 Dean Harrison became the first ever rider to average 134mph round the IoM TT course supported by Dymag. 2018 also saw Dymag support Leon Haslam and the Bournemouth Kawasaki team as they won the BSB championship, as well as success at Pike’s Peak in the USA and as official wheel provider to Kramer as it won the GP2 title in its debut season.

Always at the forefront of materials technology over the past 30 years Dymag has progressed from its beginnings using diecast magnesium into forged magnesium and aluminium, before establishing itself as the world’s leading carbon auto and motorcycle wheel manufacturer in the 90s and 2000s.

Website:          www.dymag.com,

Facebook:       www.facebook.com/dymagwheels,

Twitter:            @dymagwheels

Instagram :      @dymagwheels

Email:               sales@dymag.com

#lighterfasterstronger

 

About Puma Private Equity:

For more information on Puma Private Equity, visit www.pumainvestments.co.uk/growth-capital.

Puma Private Equity Limited (“Puma Private Equity”) is an appointed representative of Puma Investment Management Limited (“Puma Investments”) which is authorised and regulated by the Financial Conduct Authority. It is a leading provider of growth capital to small and medium-sized businesses across all sectors and regions of the UK, advising on investments between £2-10 million and partnering with management teams to accelerate growth and help businesses achieve their potential.

Puma Private Equity is the private equity division of Puma Investments, an award-winning adviser, fund manager and portfolio manager active across private equity, property finance and quoted equities. Since inception, Puma Investments has raised over £400 million in capital.

Further information on Puma Investments, its products and services can be found at www.pumainvestments.co.uk.