TLT has advised British designer and manufacturer of carbon hybrid automotive and motorcycle wheels Dymag on its GBP3.6m private equity investment from Puma Investments.
The deal will enable Dymag to expand its operations and fast-track product development. It will also create a significant number of new jobs and bring further innovations to its manufacturing processes to meet growing demand for carbon hybrid wheel technology.
Dymag launched the first commercial carbon motorcycle wheel in 1996 and the first carbon hybrid automotive wheel in 2004.
The TLT team was led by corporate partner Jon Gill with support from corporate associate Bryan Shaw, corporate solicitor Matthew Howells and advice from legal director Mark Braude in TLT’s specialist tax team.
Chris Shelley, CEO of Dymag, says: “These are really exciting times for our business. We see significant opportunities to grow globally and to drive further innovation into our business, and the Puma Private Equity team has the expertise and passion to help us deliver that.
“TLT proved to be an excellent partner for Dymag in delivering the transaction and we are grateful for their advice and hands-on management from start to end.”
Jon Gill, partner at TLT, says: “We were delighted to support such an exciting British manufacturer as Dymag as it seeks to disrupt the global automotive market. The transaction demonstrates that, despite uncertainty with regard to Brexit, private equity firms remain keen to support innovative UK businesses as they look to expand internationally.”
