International legal practice Osborne Clarke has advised the management team of the iconic 110 year old British Sports car manufacturer, Morgan Motor Company, on a majority stake investment by Investindustrial.
The investment is expected to complete in April 2019. The Morgan family will continue to act as stewards for the brand and retains a minority shareholding. Meanwhile, for the first time in its history, the management team and all employees will have a share of the business.
Founded in 1909, Morgan hand-builds premium sports cars with a classic design in its historic factory in Malvern, UK, which is visited by more than 30,000 enthusiasts each year. The Morgan brand is synonymous of quintessential British craftsmanship, elegance, performance and design. Morgan has a loyal and active owners’ community with more than 5,000 members and 50 clubs globally.
Investindustrial will support Morgan to accelerate new product development, increase global distribution and broaden customers’ experience with unique events, enabling Morgan to fulfil its global potential as an iconic maker of hand-built British sports cars.
Dominic Riley, Chairman of the Morgan Motor Company, said: "As we achieve this significant milestone for the Morgan Motor Company, we have really valued the support and expertise Osborne Clarke provided. The team understood our brand and our needs for the future. Their in-depth and specialist management advisory experience meant that they were able to provide clear and insightful advice to ensure the deal was delivered effectively and to a very tight timetable."
Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the transport and automotive sector, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.