Aston Martin agrees £150m investment deal
ASTON Martin is set for a major cash injection after securing a new investment deal with Italian private equity firm Investindustrial – in a move predicted by TheBusinessDesk.com.
Investindustrial is investing £150m in the Warwickshire-based sports car manufacturer in return for a 37.5% stake in the company.
The company also confirmed it would retain its global headquarters at Gaydon, where it employs 1,600 people.
The deal will surprise many in the industry who believed Indian firm Mahindra & Mahindra was the front runner.
However, the announcement of the deal bears out what industry insiders told TheBusinessDesk.com earlier this week.
Aston Martin chairman David Richards said the firm was delight5ed with the deal and the money would be pumped into the business to create sustainable long-term growth.
“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,” he said.
“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.”
Adnan Al-Musallam, chairman and 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.”
The firm said it now planned 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 said it was now well positioned to realise its ambitious growth strategy.