2 Jun 2017

PCS2 and PCS3 act as sole lenders in the acquisition of Dunlop Aircraft Tyres

On 2 June 2017, Permira Debt Managers (“PDM”), announced that direct lending fund Permira Credit Solutions II (“PCS2”) and Permira Credit Solutions III (“PCS3”) acted as sole lenders in the acquisition of Dunlop Aircraft Tyres (“DAT”) by Liberty Hall Capital Partners, a US sponsor specialising in Aircraft & Defence. The deal was originated through a strong relationship with the debt advisor, Rothschild.

Founded in 1910, DAT is a highly respected and globally recognised aircraft tyre manufacturer, with a strong presence in the regional and military aviation market. The Company is the only pure-play aircraft tyre manufacturer operating on a global scale, with facilities in the UK, USA and China. As one of four key players in the market, DAT has established itself as a niche provider serving smaller airline fleets and platforms. With a diversified client base, DAT can supply tyres for over 300 different types of aircraft.

DAT has a strong brand with significant heritage, having manufactured tyres for the Howard Wright Biplane, and has also historically manufactured the tyres for iconic aircraft including the Spitfire and Boeing 747.