In a somewhat out of the blue announcement Morgan Motor Company has been sold to Investindustrial, an Italian venture capitalist company.
The deal brings an end to the ownership of the Morgan family, although they will still retain shares in the business & continue to be involved, the Italian firm will become the majority shareholders.
The deal for the 110-year-old company was put together in a very short space of time according to managing director Steve Morris who also said that the Morgan family felt it was the right time & that the deal will be a perfect fit & opportunity for the prestige’s car making firm.
After a very successful year & with order books looking very positive the company sees a real opportunity for growth with a planned increase in their future production. The new investment of capital from Investindustrial will enable the company to look at developing new platforms & expansion at their Malvern facility.