A pioneering designer and manufacturer of carbon hybrid automotive wheels.

Overview

In 2018, Puma Investments invested £3.6 million of equity into Dymag Group, enabling the company to expand and relocate its operations. To enable it to grow further, Puma has made additional investments totalling £5.15 million from 2020 to 2022, bringing the total investment to £8.75 million. Puma Private Finance exited in August 2024.

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Key Info
Total Investment
£8.8 million
Location
Southwest England
Sector
High performance Wheel Manufacturer
Involvement
2018 – 2024

About Dymag

Dymag has a highly experienced management team with long-standing sector expertise and knowledge of international automotive markets.

It launched the first commercial carbon motorcycle wheel in 1996 and the first carbon hybrid car wheel in 2004. Having successfully expanded from motorcycle to car wheels, the company continues to grow its presence in the aftermarket and original equipment manufacturer (OEM) channels, working with strategic regional aftermarket partners and several of the world’s leading-performance OEMs.

Dymag’s objective is to become the foremost producer in its market and to position Dymag as the technology of choice, available worldwide. The company’s growth plans are underpinned by the automotive sector’s desire to utilise carbon wheel technology to improve efficiencies. Through our initial funding, the company was able to expand and relocate its operations – increasing its design and production capabilities and positioning the business for further growth. Our latest investment will help it to amplify this growth, accelerate development of its product pipelines and continue to innovate its manufacturing processes to meet fast-growing demand.

The company’s view

“We’re pleased with the progress we are making in cost-optimising our wheels and designing them for more scalable manufacture. Our next big step is to increase production capability from 2,000 units a year to 10,000 units a year. We’re currently investigating how we can utilise microfactories to help us achieve this scale flexibly and at lower capital cost than traditional factories, where clients need them, which will save hugely on emissions and shipping costs.

 

“The investments made into Dymag have also helped us look at more sustainable operations, including recycling composites and new materials that could be leveraged in future wheels. We are excited about the role our wheels can play in EVs as part of an overall system designed to save energy and have a much lower impact on its environment in the future.”

Tom de Lange, CEO of Dymag
“We’re pleased with the progress we are making in cost-optimising our wheels and designing them for more scalable manufacture. Our next big step is to increase production capability from 2,000 units a year to 10,000 units a year. We’re currently investigating how we can utilise microfactories to help us achieve this scale flexibly and at lower capital cost than traditional factories, where clients need them, which will save hugely on emissions and shipping costs.

 

“The investments made into Dymag have also helped us look at more sustainable operations, including recycling composites and new materials that could be leveraged in future wheels. We are excited about the role our wheels can play in EVs as part of an overall system designed to save energy and have a much lower impact on its environment in the future.”
Chris Shelley, CEO of Dymag

Our view

“We see the growth in demand for EVs continuing, and this provides a huge opportunity for Dymag as an innovator in automotive wheel technology. The expertise it has brought into the business, as well as the strategic partnerships it is forging, will help drive growth and improve operational efficiency, and we believe it is well positioned to accelerate its plans in the coming months.”

Jane Smith Rupert West, Managing Director of Puma Growth Partners

Exit

Puma Private Equity exited the firm in August 2024 following Dymag’s acquisition by Dymag Technologies Ltd, a new wholly owned subsidiary of BORBET GmbH, a German-based global manufacturer of light alloy wheels.

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