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.

Turnaround at Vauxhall

Vauxhall claims that its Vivaro UK van plant in Luton, Bedfordshire is working “almost full capacity”.

Vauxhall grad heads for Detroit

Duncan Aldred, chairman and managing director of Vauxhall Motors and chief executive officer of Opel Ireland is to be based at GM’s headquarters in Detroit from 1 March.

Aldred is appointed US vice–president, Buick-GMC sales, service and marketing. This will be his first hands-on experience of life at GM in the US, no doubt paving the way for further senior roles within the corporation.

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.

Vauxhall Motors on a roll

Vauxhall Motors is set to overtake take Ford Motor Company in the UK car retail business, according to a report in the Mail on Sunday.

Duncan Aldred, chairman and managing director of Vauxhall Motors, is reported as saying: We will be overtaking Ford by 2016. Just after the middle of the decade I expect us to be number one. So I have very high hopes for the Vauxhall brand in the UK. Our mission is to get Vauxhall right to the very top.”

Ford appears undaunted by the claims, noting “Vauxhall has always been feisty, but it’s been saying this kind of thing for 10 years.”