£100m deal for aircraft tyre maker
The world's only dedicated aircraft tyre manufacturer, based in Birmingham, has been bought in a deal worth more than £100 million.
Dunlop Aircraft Tyres, based at its factory near Fort Dunlop, has been acquired by US private equity company Liberty Hall Capital Partners for £106m.
Although its roots are in the Dunlop tyre brand, founded by John Boyd Dunlop in the19th century, the company is not part of the Goodyear Dunlop group. As well as its home in Birmingham it has sites in the USA and in China, employing 570 people in total.
“Our intention is to steward the legacy, reputation and brand name that Dunlop Aircraft Tyres has built over its 100-plus year lifetime to grow the company into an independent, global, diversified supplier of aircraft tire products of the highest value,” said Rowan Taylor, Liberty Hall’s founding partner.
“With a globally recognized brand, proven history of customer service, exemplary technology and a well-balanced portfolio of platforms in the civil and military aircraft sectors, the business is ideally placed to continue to outperform the market.
"The company has also executed a successful business strategy based upon geographic expansion, product and technology range enhancement and modernization. We intend to provide management with the financial, intellectual and human capital necessary to continue to meet the needs of Dunlop’s customers.”
Dunlop Aircraft Tyres' products are found on more than 150 commercial, regional and military aircraft platforms and serve over 300 global customers, including airline operators and manufacturers, across more than 85 countries. Over 90 per cent of Dunlop Aircraft Tyres’s revenues are generated in the aftermarket.
The existing management team, led by Gordon Roper, CEO and managing director, will remain in their roles following the takeover. Mr Roper said: “Management’s day-to-day focus will be on continuing to execute our successful business strategy.
"Liberty Hall, with its deep experience, knowledge and relationships within the global aerospace industry, is ideally positioned to help us accelerate the outstanding growth record that we have demonstrated in recent years.”
Liberty Hall specialises in investing in businesses in the aerospace and defence industries.
Dunlop Aircraft Tyres represents Liberty Hall’s second acquisition in Birmingham. In March 2016, Liberty Hall acquired Bromford Industries, a supplier of complex, close tolerance engine components, fabrications and assemblies and landing gear components for the global aerospace and power generation industries.
