UK: Aston Martin sells stake to Investindustrial
By Dave Leggett | 7 December 2012
Aston Martin has announced that it is to receive a GBP150m investment from private equity firm Investindustrial in return for a 37.5% stake in the business.
The UK-based luxury sportcar firm said that it intends to invest more than half a billion pounds in its new product and technology programme over the next five years. It said that 'with the support of The Investment Dar and Investindustrial, the company is well positioned to realise its ambitious growth strategy.'
Investindustrial was reportedly competing with Mahindra for a stake in Aston Martin.
Andrea C. Bonomi, Senior Principal at Investindustrial, said: “We are delighted to form part of this iconic global, but quintessentially British brand. We are looking forward to working with the management and Investment Dar to achieve a similar transformation and rejuvenation that we achieved with Ducati, by expanding the model range and strengthening the dealership network, throughout the world.”
Investindustrial sold high-end motorcycle brand Ducati to Audi earlier this year.
See also: UK: Two bidders competing for Aston Martin stake - reports
Aston Martin announces new partnership with Investindustrial
7 December 2012, Gaydon: Aston Martin welcomes Investindustrial as a major shareholder and confirms that it will now proceed with its extensive and exciting plans for sustainable long-term growth.
Aston Martin Chairman David Richards said: “I am delighted that Investindustrial has decided to become a major investor in Aston Martin. With the support of The Investment Dar, we have made substantial progress over the past five years in laying the foundations for success as one of the world’s leading luxury sports car manufacturers. Investindustrial’s new investment reflects and sustains the unique position of Aston Martin within the industry. With this partnership and the continued commitment of The Investment Dar, we look forward to working with our shareholders as we realise our vision and exciting future plans.”
Andrea C. Bonomi, Senior Principal at Investindustrial, comments: “We are delighted to form part of this iconic global, but quintessentially British brand. We are looking forward to working with the management and Investment Dar to achieve a similar transformation and rejuvenation that we achieved with Ducati, by expanding the model range and strengthening the dealership network, throughout the world.”
Adnan Al-Musallam Chairman & Managing Director of The Investment Dar said: “We welcome Investindustrial as new partners in our collaboration with Aston Martin. With our continued commitment and the support of Investindustrial, Aston Martin is in a strong position to pursue its plans for development.”
Investindustrial is investing £150m in Aston Martin in the form of a capital increase for a 37.5 per cent stake in the company.
Aston Martin intends to invest more than half a billion pounds in its new product and technology programme over the next five years. With the support of The Investment Dar and Investindustrial, the company is well positioned to realise its ambitious growth strategy.
Aston Martin production will remain at the luxury British marque’s global headquarters at Gaydon in Warwickshire, a purpose-built facility where a skilled workforce of 1600 employees assemble the current range of sports cars.
Original source: Aston Martin
Sectors: Financial, Vehicle manufacturers
Companies: Aston, Mahindra, Audi
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