Top ad man invests in Liverpool sportscar firm
ONE of the world’s top advertising executives has invested in Briggs Automotive Company, the small Liverpool company behind single seater sports car the BAC Mono.
Alexandre Gama has bought a “significant” minority stake in the business along with an unnamed Chinese investor based in Hong Kong.
The company announced the investment on Friday alongside a tie-up with Liverpool John Lennon Airport – see more pictures here – which is allowing it to use the runway for high speed testing at off-peak times.
Mr Gama is the Sao Paulo-based chief creative officer of BBH and sits on the board of its parent company Publicis, one of the world’s big four advertising agencies along with WPP, Omnicon and Interpublic.
He first got involved with the business as a customer and saw his car being made when BAC set up a temporary work shop at Mann Island in Liverpool during the International Festival for Business in the summer.
Andrew Whitney, director of strategy and corporate development at the business, said: “He’s a remarkable asset for the business because of his credibility, creativity, vision and global reach. It’s already having an effect. He sits on the board of the company and is very involved in all decisions and matters concerning the brand.”
Briggs Automotove was established in Holmes Chapel, Cheshire in 2009 by the brothers Ian and Neill Briggs. In 2013 it was enticed to Liverpool where it has set up a production facility making around two cars a month on the Compass Industrial Park in Speke, close to the airport.
It has 20 staff and expects to hire another 40 by the end of 2016 to help meet demand as orders pick up. Around 25 cars have been shipped so far and orders for 200 are in the pipeline. Around 95% of parts are sourced in the UK and 35% come from North West suppliers, including Ellesmere Port-based ceramic brakes manufacturer Surface Transforms.
The BAC Mono is powered by a four-cylinder 2.3 litre Ford Cosworth engine but can hit 60 mph in 2.8 seconds because it is so light. The no fills approach and a carbon fibre body ensure it weighs just 580 kilos. The top speed is around 175 mph and BAC is charging £103,500, plus VAT.
“The market we cater to is high net worth individuals and very discerning drivers,” said Mr Whitney. “They don’t want to buy this instead of a Ferrari, they buy it in addition because it gives them something a Ferrari can’t give, and there’s no shortage of these people, the luxury goods market is expected to double in value over the next 10 years.”
