Chasing Tenths

30/07/2025

27/07/2025

One of my favourite Grand Prix cars from the yester-years , the BRM V16 at my favourite circuit Oulton Park 🇬🇧

26/07/2025

That’s not ideal at all

26/07/2025

❤️

25/07/2025

HPS and Arcmont inject €25m into Dainese as debt-for-equity talks advance

Private credit giants HPS Investment Partners and Arcmont Asset Management have provided €25m in fresh funding to embattled Italian sportswear manufacturer Dainese, as negotiations intensify over a potential debt-for-equity takeover, according to a report by Bloomberg.

The new financing, structured as private notes maturing in three years, is intended to stabilise Dainese’s operations amid ongoing discussions with its private equity owner, Carlyle Group, over a possible transfer of ownership to the lenders.

HPS and Arcmont already hold €285m in notes due in 2028, issued to finance Carlyle’s acquisition of Dainese in 2022. The latest cash injection signals growing lender involvement in the company’s future, as Dainese struggles under financial strain.

Bloomberg previously reported that Carlyle is considering handing over control of Dainese through a consensual debt-for-equity swap — potentially one of the first such restructurings in the Italian private equity market.

Dainese, known for its high-performance protective gear for motorcyclists, skiers, and cyclists, reported a sharp financial decline in 2023, with losses nearly tripling to €120m. The downturn was driven in part by an €86m goodwill impairment and a slump in consumer demand.

Carlyle injected €15m in equity at the end of 2024 to help Dainese remain compliant with loan covenants, but that support may no longer be sufficient.

23/07/2025

Carl Fogarty 👑

21/07/2025

James Stone’s smoker Aprilia
Video on Stone Automotive YouTube

Photo courtesy Motowikki

21/07/2025

Couldn’t have chosen a better song

19/07/2025

Super interesting