Home NEWS Majority stake in Morgan acquired by Investindustrial

Majority stake in Morgan acquired by Investindustrial

Investment company Investindustrial has acquired a majority stake in Morgan Motor Company, it has been announced.

The news comes on the same day that Morgan revealed its new Plus Six sports car at the Geneva Motor Show – the first car to be built on the firm’s new CX-generation platform.

• New Morgan Plus Six revealed at Geneva

The Morgan family will still continue to act as stewards for the brand and will maintain a minority shareholding, however, for the first time, the management team and all Morgan employees will be become shareholders.

While Morgan confirmed the future investment, they did not state how much money would be invested into the company. Morgan is keen to say that there was no outstanding financial debt and that the move comes off the back of the two most successful years in Morgan’s history for both sales and profit. 2018 saw a record 700 Morgan models produced and a net profit of £3.2 million.

Morgan says the investment will be used to enhance its operations across the board, from updating its Malvern Link factory to global sales and distribution. The new investment also opens up the potential for future new models, adding scope for expanding the model line-up over the coming years or even decades.

Although Morgan is open to the idea of an extended product line-up, do not expect to see a cut price, base spec Morgan anytime soon. Or, indeed, an ultra exclusive performance model. Morgan is keen to keep loyal to its heritage and existing customers.

Investindustrial have previous experience with the automotive market having previously invested in Aston Martin Lagonda as well as Ducati motorcycles. Both companies have seen profits and sales rise as a result of the investment. 

Source link

Must Read

2020 Ford Explorer Police Interceptor Hybrid Review – MotorTrend

Ford had some standard hybrids at its test track in Dearborn for us to take a quick spin. Explorers are modified to become Interceptors,...

GWKFest: The Final Roll, A Final Take – Speedhunters

Nostalgia As you’ve hopefully gathered, the inaugural Golden Week Kyusha Festival featured a beautiful display of old Japanese cars. Going a bit deeper, it was an awesome...

Late In The Day: The Road To Wörthersee – Speedhunters

This has been a pretty wild few weeks of road trips. Ireland to Goodwood, Ireland to Germany, Germany to Belgium and now Germany to Austria. For...

2020 Lincoln Corsair Pricing Starts in High 30s, Can Speed Past $60K | News

We were wowed by the 2020 Lincoln Corsair with its classy styling and interior that bring to a compact SUV the design flourishes of...

All segments production, sales skid to negative, Auto News, ET Auto

New Delhi: The cautious attitude of customers, political uncertainty and negative shadow of tightened liquidity and higher insurance cost dragged down the new vehicle...