Cash infusion from venture capitalist will help 110-year-old British firm expand range and production, with goal to double sales
Mark Tisshaw
5 March 2019

Morgan has sold a stake in its company to Italian venture capitalist firm Investindustrial - and the British firm says the investment will allow it to massive expand its range and production facilities.

Announced at the Geneva motor show, the “significant new capital investment” makes Investindustrial the single biggest shareholder in the Morgan Motor Company. The amount the firm paid has not been disclosed.

The Morgan family will retain a share in the 110-year-old company, while management and staff will also have a share in the now-Italian-owned business. Morgan unveiled the Plus Six, its first new model in 19 years, at Geneva.

Morgan chairman Dominic Reilly said: “The last two years have been the most successful for Morgan and we want to build on that success and secure our long term future.

“This is a new partner that is absolutely right for the company to let us grow and fulfil our potential globally. It allows us to increase our sales and marketing activity worldwide and upgrade and invest in our factory and visitor centre.

“We will expand production, accelerate product development, develop new cars and recruit more staff to our Malvern base and worldwide. This expands production and secures the long term future in Malvern while retaining hand crafted sports cars that are hand built; these are at the heart of the company."

The firm currently sells around 750 cars a year, and is aiming to double this to 1500 in the coming years. The cash will also allow it to accelerate development of its proposed flagship model

Investindustrial also owns a large stake in Aston Martin. It bought a 37.5% stake in Aston in 2012, which has since been reduced following the company’s stock market listing, and was a key player behind the appointment Andy Palmer to lead that company in 2014.

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Palmer devised the Second Century plan for Aston launch seven all-new cars over seven years, including new mid-engined models, SUVs and the rebirth of Lagonda as an electric-only brand.

Aston Martin released its own statement on the news. “We would like to congratulate both Investindustrial and Morgan Motor Company on this agreement. It is encouraging that another independent British car company is flourishing and attracting high-quality investors.”

Read more

Morgan Plus Six unveiled at Geneva show

Geneva motor show: latest news and updates

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Comments
10

5 March 2019

Italian influences maybe?, wonder what an Italian Morgan would like?...chortle chortle..

Peter Cavellini.

5 March 2019

Good old Morgan.

Keeping the old days present.

JMax

5 March 2019

Thought we were led to believe that becaucse of B********, no foreign companies (i.e- Honda & Nissan) don't want to invest in the UK anymore!

Good news for Morgan, Good news for the UK.

By the way why hasn't Terminalsecurity reported that The Jaguar I-Pace has won Car of the Year 2019????

(Or do they only report it if it's a German car thats won???)

5 March 2019
jagdavey wrote:

Thought we were led to believe that becaucse of B********, no foreign companies (i.e- Honda & Nissan) don't want to invest in the UK anymore!

Good news for Morgan, Good news for the UK.

By the way why hasn't Terminalsecurity reported that The Jaguar I-Pace has won Car of the Year 2019????

(Or do they only report it if it's a German car thats won???)

They did report it, quite extensively actually.

5 March 2019
owenmahamilton wrote:

jagdavey wrote:

Thought we were led to believe that becaucse of B********, no foreign companies (i.e- Honda & Nissan) don't want to invest in the UK anymore!

Good news for Morgan, Good news for the UK.

By the way why hasn't Terminalsecurity reported that The Jaguar I-Pace has won Car of the Year 2019????

(Or do they only report it if it's a German car thats won???)

They did report it, quite extensively actually.

Well it is Austrian, which is close to being German..........

5 March 2019

When & where did they report it????? didn't see it in Terminalsecurity today.

5 March 2019

The suggestion that the Plus Six is Morgan's "first new model in 19 years" surprises me.

 

5 March 2019

Good news but Morgan are a very small business in comparison with the firms reported as reviewing their post bexit future....  750 cars a year by Morgan - Honda 160,000 a year.

5 March 2019

Devastating. This is precisely what Morgan is not, has never been, and never should be. Morgan is literally unique in the industry. That's what made it special. It has survived for 110 years by being small, and family-owned. That it was the oldest original-family-owned car company in the world WAS one of its truly charming and appealing characteristics -- apparently that's now over. It's terribly sad that they'll now be run by a venture capital firm (for the record, I have nothing against such firms, but it doesn't fit what Morgan is AT ALL). Growth, increasing "marketing activity," accelerated product development -- NOT doing this is what set Morgan apart from everything else. This sounds exactly like what Peter Morgan was advised to do years ago by a "business consultant." He did NOT follow that advice -- and the company prospered. Morgan doesn't fit into "standard" business strategies. This is a crying shame.

8 March 2019

My early Morgan Three Wheeler has been a disaster. It has only done 7500 km because for much of the time since 2012, it has been broken. Hopefully after being totally re-manufactured at the factory last autumn, with a new chassis and lots of other bits it might be better now. I wonder if the forthcoming purchase was one of the reasons, along with the insolvency of Frazer-Nash, for the cancellation of the electric Three Wheeler, in which I would have been quite interested. I would have hoped for a more powerful engine than the rather feeble 54bhp of the electric prototype. Morgan's overseas service arrangements need a big overhaul. Their arrangements in France are pitiful. 

Wilson Laidlaw

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