General Motors has sold the Millbrook Proving Ground to Rutland Partners, a UK-based turnaround and investment specialist, for an undisclosed sum.
GM will remain a key customer for Millbrook – opened in 1969 as the Vauxhall Proving Ground – which also has a number of other OEM customers. The deal is expected to secure the future of the the business which has revenues of approximately GBP40m and has more than 400 employees.
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Duncan Aldred, Vauxhall chairman and managing director, said: “This is a good day for General Motors and the employees of Millbrook. The acquisition of Millbrook Proving Ground by Rutland Partners is a very positive move for both businesses. GM’s strategic objective is to focus its global engineering facilities on larger regional centres and in Rutland we have found a strong partner to take over the UK engineering operation.”
Under Rutland’s ownership, Millbrook will be led by chief executive officer Miguel Fragoso. Completion is expected in early December. Fragoso said that Rutland’s involvement will secure “access to funds and strategic resources to support investing in people, technology and growth. Both myself and the management team are very confident in Millbrook’s future as a leading organisation in engineering and test technologies”.
