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