We have advised Nova Motorsport, a global leader in the motorsport tyre industry, on securing its €10m in funds from Banco Português de Fomento (BPF) to support the acquisition of Camac, a prominent Portuguese racing tyre manufacturer, and the reindustrialisation of the Avon Motorsport product line.
Nova Motorsport is a subsidiary of SPC Group, a leading manufacturer of rubber compounds, specialising in technically demanding, high-quality products. The group holds three factories in Europe and has a successful track record of several turnaround investments.
Founded in 1967, Camac is a tyre production company with over 2,000 tyre specifications in its portfolio. The factory, headquartered in the north of Portugal, has a production capacity of over 500,000 tyres per year and an industrial team with strong and niche know-how in the production of racing tyres.
Avon Motorsport is a renowned tyre brand with over a century-long legacy in the industry. Nova Motorsport recently acquired the brand licences for 'Avon Motorsport' and 'Avon Racing' from Goodyear, having exclusive rights to supply many renowned racing champions in Europe.
BPF, through its deal-by-deal co-investment program, provides an alternative funding source for viable and ambitious projects with debt, equity, and/or quasi-equity instruments.
This transaction will allow Nova Motorsport to start the reindustrialisation of Avon’s product line in Camac’s industrial facilities, reflecting its commitment to enhancing its product offerings and technological capabilities as a specialist in the motorsport tyre industry.
