DPC Holdings PLC (DPC) entered into a new senior unsecured revolving credit agreement providing a $325 million multi-currency revolving credit facility with a syndicate of banks and Barclays Bank PLC as administrative agent, maturing on the earlier of September 3, 2029 or termination of all commitments.
The facility includes an uncommitted accordion of up to $150 million, a $50 million U.S. Dollar swingline sub-facility, and a $50 million multi-currency letter of credit sub-facility. Borrowings bear interest at various benchmark or base rates plus a margin tied to the company’s total net leverage ratio and step up to the highest level during an event of default. In connection with the new unsecured facility and related guarantee agreement, DPC repaid in full its prior senior secured term note loan and senior secured asset-backed lending facility, with the company stating the refinancing is expected to increase liquidity and financial flexibility, reduce annual interest expense, and extend debt maturities.
DPC Holdings PLC received a Schedule 13G from a group of investment entities affiliated with Searchlight. The Reporting Persons collectively report beneficial ownership of 10,515,042 Ordinary Shares, held through SOF Holdings, L.P. (1,489,760 shares), Searchlight Opportunities Master Fund II-A, L.P. (208,006 shares), and SOF II DBT I, L.P. (8,817,276 shares). These positions are reported as of a base of 149,393,016 Ordinary Shares outstanding as of July 28, 2026. Searchlight Opportunities Fund GP, LLC and Searchlight Opportunities Fund II GP, LLC report shared voting and dispositive power over the relevant positions, while individuals associated with these entities may be deemed to share beneficial ownership but expressly disclaim it.
DPC Holdings PLC has received a Schedule 13G from a group of investment entities affiliated with J.F. Lehman & Company, LLC, reporting significant ownership of its ordinary shares. The largest reported position is by entities including JFL GP Investors VI, LLC, JFL Equity Investors VI, L.P., JFL Parallel Fund VI, L.P., JFL Executive Investors VI, L.P., and JFL Fund VI Alloy Holdings, LLC, which report beneficial ownership of 20,235,129 ordinary shares, representing 13.5% of the class, based on 149,393,016 shares outstanding.
Additional entities affiliated with J.F. Lehman report smaller positions: TPCI LLC and related credit-focused vehicles report 2,535,267 shares (about 1.7% of the class), and JFL Credit Opportunities Fund II, L.P. and its general partner report 454,546 shares (about 0.3%). All reported holdings are characterized as having shared voting and dispositive power, with no sole voting or dispositive power. The filing states that various JFL-affiliated individuals and funds disclaim beneficial ownership except to the extent of their pecuniary interests and clarifies that the group relationship and joint filing are made under Section 13(d) and Rule 13d-1(k)(1).
DPC Holdings PLC is reported as having a significant shareholder group led by Hill City Capital Master Fund LP and related entities. These reporting persons collectively beneficially own 7,693,605 ordinary shares, representing 5.1% of the outstanding ordinary shares of DPC Holdings PLC.
The group reports shared voting and dispositive power over all 7,693,605 shares and no sole voting or dispositive power. The ownership percentage is based on 149,393,016 ordinary shares outstanding as of July 28, 2026, as referenced from the issuer’s quarterly report.
DPC Holdings PLC reported strong top-line growth but larger losses for the quarter and first half of 2026. For the three months ended June 28, 2026, revenue was $268.7 million, up 33.7% year over year, driven by Aerospace and IGT demand, while net loss widened to $131.1 million, mainly due to a $129.5 million charge for a cash Management Incentive Plan (MIP) and $19.9 million of new share-based compensation. Adjusted EBITDA rose to $47.8 million with a 17.8% margin.
For the six months, revenue reached $505.3 million (up 29.9%) and net loss was $178.5 million, with adjusted EBITDA of $87.9 million and a 17.4% margin. An IPO and concurrent private placements generated over $1.1 billion in net proceeds, enabling full repayment of a $878 million shareholder PIK loan and, shortly after quarter-end, a $460 million term-loan paydown. This reduced total debt to $572.7 million and lifted cash to $846.4 million, though free cash flow for the half was negative as inventory and capex increased.
DPC Holdings PLC reported record Q2 2026 revenue of $268.7 million, up 34% year over year, led by strong Aerospace and IGT demand and above-market growth in Engine Products across Europe and North America. For the first half, revenue reached $505.3 million, up 30% from 2025.
Q2 adjusted EBITDA was $47.8 million, up 33%, with an adjusted EBITDA margin of 17.8%, broadly in line with last year despite metal cost pass-through and higher corporate costs. Engine Products segments delivered double‑digit revenue growth and margin expansion, while Turbo Wheels saw margin compression and lower profitability.
GAAP results were weaker: Q2 net loss was $131.1 million, compared with a $49.4 million loss a year earlier, driven largely by a $129.5 million long‑term management incentive expense, share‑based compensation and IPO‑related costs. However, adjusted net income turned positive to $5.6 million (EPS $0.05) versus an adjusted loss. Free cash flow was negative at $(36.5) million in Q2 on higher working capital and capex. The balance sheet strengthened markedly, with adjusted net cash of $273.7 million at June 28, 2026 and transaction‑adjusted net cash of $118.2 million after IPO‑related items. Management issued full‑year 2026 guidance for revenue of $1.0–$1.04 billion and adjusted EBITDA of $182–$187 million.
DPC Holdings Ltd director Nick Sanders reported several equity-related transactions tied to the company’s initial public offering. An entity associated with him, Walther Investments Limited, bought 6,030 ordinary shares at $33.00 per share through a directed share program, bringing its indirect holdings to 149,780 shares.
Sanders also bought 288,213 ordinary shares directly at $33.00 per share in a concurrent private placement and received 15,865 fully vested matching shares under the 2026 Equity Incentive Plan, lifting his direct holdings to 304,078 shares. In addition, he was granted multiple share options over ordinary shares with exercise prices starting at $33.00 and expirations in 2036.
DPC Holdings Ltd CEO & Executive Director Michael (Mike) Quinn reported a substantial increase in his stake around the company’s initial public offering. On June 26, 2026, he made an open-market purchase of 435,121 Ordinary Shares at $33.00 per share through a directed share program, using after-tax proceeds from the Management Incentive Plan. Following this, he held 435,121 shares directly, and a separate entry shows 27,729 shares held indirectly by QP Capital Ireland Limited, which is wholly owned by him.
On June 24, 2026, Quinn also received significant equity compensation. He was granted share options over 458,470 Ordinary Shares with a $33.00 exercise price expiring in 2033, plus multiple additional grants of 334,829 or 334,828 options each, with exercise prices between $33.00 and $48.31, exercisable from 2027 to 2031 and expiring in 2033. These grants were made under the 2026 Equity Incentive Plan as IPO-related and MIP recognition awards.
DPC Holdings Ltd director Willibald Meixner increased his stake and received new equity awards. On June 26, 2026, he purchased 3,784 ordinary shares in the open market at $33 per share through a directed share program tied to the company’s initial public offering.
He also received a fully vested matching grant of 946 ordinary shares under the DPC Holdings Limited 2026 Equity Incentive Plan, and on June 24, 2026 was granted several tranches of share options covering ordinary shares with exercise prices between $33.00 and $48.31, exercisable from 2027 to 2031 and expiring in 2036.
DPC Holdings Ltd Chief Operating Officer Jason Mays reported an open-market purchase and multiple option grants. He bought 85,973 Ordinary Shares on June 26, 2026 at $33.00 per share, bringing his direct holdings to 93,456 Ordinary Shares.
On June 24, 2026, he was granted several tranches of share options under the 2026 Equity Incentive Plan in connection with the company’s initial public offering. These options cover Ordinary Shares at exercise prices from $33.00 to $48.31 per share, generally expiring in 2036, including IPO-related and MIP recognition grants.