Investindustrial, a European investment group, has acquired a majority stake in Morgan Motor Company, the iconic 110-year-old British sports cars manufacturer.
The Morgan family will continue to act as stewards for the brand and retains a minority shareholding, with the management team and all employees also becoming shareholders in the business.
Founded in 1909, Morgan builds premium sports cars at its factory in Malvern, UK, which is visited by more than 30,000 enthusiasts each year. With revenues of £33.8 million ($AUS63 million) and net profit of £3.2 million ($AUD5.98 million) in 2018, the company sells around 700 cars per year including a unique three-wheeler. The Morgan brand has an active owners’ community with more than 5,000 members and 50 clubs globally.
As part of the transaction, Investindustrial will support Morgan to accelerate new product development, increase global distribution and broaden customers’ experience with unique events.
Morgan will continue to focus on its niche classic segment within the automotive sector, with bespoke manufacturing, hand-built products.