Engineering news
A European investment group is to take a major shareholding in luxury carmaker Aston Martin in a move that is likely to lead to a rapidly expanded model range.
Investindustrial is to pay £150 million for a 37.5% stake in the business, based in Gaydon, Warwickshire.
Aston Martin said it was also receiving support from Kuwaiti group Investment Dar.
David Richards, Aston Martin's 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, 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.”
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.”
Aston Martin said it planned to invest half a billion pounds in new products and technology over the next five years.