Maven invests £3.5m in DMack

The investment will be used to fund the company's next stage of growth. Having recently introduced a range of passenger car tyres, the capital will allow DMack to invest in new tyre moulds to increase its range of available tyres.

According to Maven, the global tyre market is currently valued at around $90bn per year, and is forecast to grow by a further 50% by 2017.

Company
DMack produces high-performance tyres for the global automotive market, with a focus on the motorsport sector. In 2011, the company was appointed alongside Michelin as approved tyre supplier to the FIA World Rally Championship. The company then went on to produce a range of passenger car tyres in 2012.

DMack was established by managing director Dick Cormack in 2006 and is headquartered in Carlisle with a manufacturing facility in China.

People
The deal was led by Maven investment managers Julie Glenny and Richard Elliott. Dick Cormack is managing director of DMack.

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