Dymag is a pioneering designer and manufacturer of carbon hybrid automotive wheels.


In 2018, Puma Investments invested £3 million of equity into Dymag Group, enabling the company to expand and relocate its operations. To enable further growth, in early 2020 a second investment of £1.2 million was made. A further investment of £1.7 million in two tranches, the first of which was in late 2020 and the second in early 2021.


Key Info
£8 million
High performance wheel manufacturer
2018 – present

About Dymag

Dymag has a highly experienced management team with longstanding 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

“Following a comprehensive search for the right investor to help us, we chose to work with Puma Private Equity given the team’s understanding of technology and manufacturing, plus their longstanding commitment to supporting British businesses.”

Chris Shelley, CEO of Dymag

Our view

“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 longstanding motorcycle racing heritage. The company is now well-placed to accelerate growth and establish itself as the global leader in this market.”

Jane Smith Jonathan Wyles, Investment Director