Can PSA Group gain where GM loses?

What does Peaguot SA know that so far has eluded General Motors in Europe? It remains to be seen. But, if you’re gonna buy something, you sure as hell gotta make it work.

Spectris gobbles up Millbrook in £122 million deal

Rutland Partners only wanted the former General Motors/Vauxhall Motors’ proving ground at Millbrook for one thing, and one thing only – to make money.

Battle for Silverstone becomes bitter

Having lost out some three years ago in its bid to buy the Millbrook Proving Ground in Bedfordshire previously owned by General Motors, JaguarLandRover set its cap at buying the Silverstone racing facility.

Calsonic Kansei to open new UK R&D centre

Calsonic Kansei, a supplier of heat exchange, air conditioning, exhaust, interior and electronic automotive components, has created a new R&D centre at Millbrook’s Bedfordshire-based Technology Park in the UK.

Millbrook test cells ready next month

Millbrook Group expects its new engine test cells will be completed and ready for use by the end of next month.

Go-ahead given for Millbrook extension

Planning consent has been given by Bedfordfordshire Council for nearly 25,000 square metres of offices, and research and development space at the Millbrook Proving Ground at Lidlington, Bedforshire.

This is in addition to consent for three new building offering 6,000 square metres of space as the business seeks to establish a technology park on the site.

Vauxhall built only 44,000 vans in 2013

The Vauxhall Van Plant in Luton, UK built over 44,000 vans last year, making it Britain’s number one van maker for the 12^th year running, according to figures released today by the Society of Motor Manufacturers and Traders.

The Bedfordshire-based Vauxhall celebrated 110 years of building and selling vehicles in 2013 and achieved 12 years of manufacturing dominance.

GM to bank-roll Millbrook’s pension scheme

It is rumoured that the cost to Rutland Partners of buying Millbrook Proving Ground Ltd is just under £15 million; a figure somewhat lower than some people expected. As part of the consideration, Rutland will not have to fund the employees’ pension scheme. It has not been disclosed how Rutland will finance the deal.

Also as part of the deal, there is a continued agreement from General Motors (GM) and Vauxhall Motors for Millbrook to maintain production of ‘blue light’ vehicles and other conversions. In this event, Millbrook will be a sub-contractor to Vauxhall.

GM will continue to provide durability, testing and engineering design work to Millbrook for a range of Vauxhall/Opel vehicles.

Millbrook acquired by Rutland Partners

As exclusively reported in this blogspot on 25 September, Rutland Partners of Regent Street, London has now confirmed it has acquired Millbrook Proving Ground Limited. The wait is over - this blogspot first revealed Millbrook being placed 'for sale' a year ago in October 2012!

The venture capitalist company exchanged contracts with General Motors (on 2 October) for the acquisition of Millbrook Proving Ground Limited for an undisclosed amount with additional funds being made available for the development of new facilities.

The nature of the ‘new money’ and new investments has not at this stage been disclosed. The consideration could be a multiple of Millbrook’s trading profits. For example, Rutland acquired Pizza Hut UK Restaurants for £20 million and the renowned test centre might seem a strange bedfellow alongside the Edinburgh Woollen Mill business which Rutland acquired for £80 million.

Venture capitalist in the frame for Millbrook

The latest word on the street suggests a venture capital company has moved into first place as the most likely business to acquire the assets of Millbrook Proving Ground in Bedfordshire.

These rumours come at a time when JaguarLandRover (JLR), once a strong candidate tipped to take over Millbrook, is now enmeshed with its own new state-of-the-art research facility where it is the lead partner in the project to invest £50m, along with Tata Motors European Technical Centre (TMETC), WMG and the UK Government's Higher Education Funding Council England (HEFCE).

With the new National Automotive Innovation Campus (NAIC) as JLR’s first focus, the prospect of an investment in Millbrook inevitably takes a back seat, paving the way for other possibilities.