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Spyker sportscars (brand) sold!

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  • #46
    More rumblings of a sale

    This article in the Financial Times suggests that a release was due out today announcing sale of the Spyker division of Swedish Automotive to one "North Street Capital, LP." Can't find a lot of information about them on their website.

    I'm certainly curious to learn more!

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    • #47
      A quick search shows multiple North Street Capitals, and in different cities. Do we know which one it is?
      Rijk

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      • #48
        Originally posted by F Spider View Post
        A quick search shows multiple North Street Capitals, and in different cities. Do we know which one it is?
        Seems likely to be the hedge fund based in Greenwich CT. Hopefully they continue relationship with CPP to build Aileron and invest in expanding marketing and sales distribution, though how they do that who knows...

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        • #49
          Car and Driver Blog » Spyker Sold! We Interview the New Owner, Alex Mascioli of North Street Capital

          C/D: How many cars per year can Spyker sell? It epitomizes the phrase “boutique carmaker.”

          AM: We’re looking for realistic growth. It would be great over the next couple of years to see 20-percent year-on-year growth—so moving to about 50 cars a year would be the goal for now. We just want to see consistent growth, even if it’s small in absolute numbers.
          The buyer:
          https://www.facebook.com/people/Alex...oli/1654059134
          AlexMascioli.com
          North Street Capital, LP

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          • #50
            Spyker uncertainty leads to redundancies at CPP

            "Having geared up for production of Spyker Cars, the uncertainty surrounding ownership and future production has lead to management redundancies at CPP.

            It all started so well for CPP (Manufacturing, Global Holding et al) when it was announced that Spyker Cars had been bought by CPP. And it made a lot of sense. To all intents and purposes CPP were already building most of what makes up a Spyker, before it was shipped to Holland to get the engine bolted in and the pretty bits added.

            But Victor Muller’s foray in to Saab ownership has lead to the agreement for CPP to buy Spyker sidelined, as Muller appears to have done a deal with a little-known venture capital company in the US – North Street Capital.

            Even then the deal is probably going to be complicated by the issues surrounding Vladimir Antonov’s arrest over a missing €300 million at Lithuania’s Snoras Bank. It’s thought that Spyker was wholly funded by Antonov and he or, if the allegations are proved against him, the authorities seeking to repatriate his assets, will tie up Spyker in no-man’s land for a long time.

            So CPP, who will potentially have their own problems with Antonov’s 50 per cent investment in their business, have decided to bite the bullet and start to cut costs, having invested heavily in facilities and management in preparation for Spyker production.

            With a staff of 250+ CPP are carrying a heavy payroll, and some of the ‘management’ must be taking home sizeable pay packets. People like Tony Gott (ex RR & Bentley), Wicher Kist (ex Spyker), Steve Haywood (ex Land Rover Chief Engineer), not to mention the cost of paying salaries to the Zagato family (CPP and Zagato are ‘partners’).

            CPP didn’t go in to detail of who is been let go when we spoke to them, although at this stage we don’t think it’s any of the headline acts. But they are losing at least six ‘management’ staff, which we guess will save them around £300k a year.

            Hopefully this is as far as CPP will need to cut, and it’s a very sensible thing to do with so much uncertainty over Spyker. But it could get a lot worse if the Antonov situation starts to implicate in CPP’s aggressive growth and acquisition plans."

            (source)

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            • #51
              Hi everyone, so, as of now who owns Spyker then?

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              • #52
                Originally posted by AUSSPYKER View Post
                Hi everyone, so, as of now who owns Spyker then?
                Jason,

                Welcome to the site. There is a lot to read about Spyker on this site, including contributions from many a Spyker owner and even responses from the factory.

                We keep the financial side out of the discussion as much as we can, but right now Spyker is owned by Swan.
                Rijk

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