Photo: Timitrius / Creative Commons
The New York Times reports that Investindustrial, an Italian private equity firm, has purchased a 37.5 per cent stake in Aston Martin from Investment Dar, which retains principal ownership.Investindustrial isn’t a stranger to the motor industry, but their latest purchase marks the first time they’ve selected the four-wheeled variety. The firm sold the Italian motorcycle maker Ducati for over $1 billion to Audi earlier this year.
Investindustrial, which invests primarily in Southern Europe, has nearly $4 billion in assets under management.
This infusion of cash was desperately needed. Demand for Aston Martins decreased significantly due to the financial crisis, while competition in the luxury car market spiked. Sales declined, so much so that the firm was forced to forego investing in R&D.
There’s no doubt who the big winner is in this deal, but it isn’t the car company or the firm which bought them.
The name’s Bond. James Bond.
The Aston Martin has been the agent’s vehicle of choice since Goldfinger was released in 1964.