Breaking: Spyker sold to North Street Capital

Article by Christian A., on September 28, 2011

It was announced today that Swedish Automobile, parent company of Saab and Spyker, sold Spyker to North Street Capital, a Connecticut-based private equity firm, for about 32 million euros (about $43 million). At this moment, neither Swedish Automobile or the investment firm didn’t want to release any terms of the deal.

Still, it was not a secret that Swedish Automobile wanted to sell Spyker as during the summer it announced that it was negotiating with a group funded by the Russian investor Vladimir Antonov. Apparently the talks collapsed and the group funded by Vladimir Antonov announced that it will resurrect the legendary Jensen interceptor.

Although these news are not quite good for the fans of the Spyker sports cars we must see the bright side: the money received for Spyker will be seen as a mouth of fresh air for Swedish Automobile, which desperately needs cash in order to help Saab dig out bankruptcy. Of course, North Street Capital has a lot of work with Spyker because the Dutch manufacturer didn’t sold too many cars.

According to Financial Times, Spyker is currently unprofitable and sold only 36 cars in 2009. The firm didn’t reveal the numbers for 2010 but don’t expect to see any improvement. Vladimir Antonov said earlier this year that Spyker produced zero units in 2010… so it appears that Spyker needs some money, new products and a new marketing team in order to become a successful company!

Topics: spyker

If you liked the article, share on:

Comments

Recommended

While Tesla Motors continues to struggle with regards to the assembly of its much awaited Tesla Model 3, investment firm Oppenheimer & Co. is confident that its previous production estimates...
by - October 22, 2017
It seems that BMW’s high-performance division -- BMW M – still has not warmed up to front-wheel drive vehicles. So those who had been looking forward to BMW M vehicles...
by - October 22, 2017
Porsche already has the Performance Package for their range-topping Macan Turbo, which is currently available in some countries. Soon, this model will be dethroned by something even fancier by the...
by - October 22, 2017
After the highly dynamic Polestar 1 two-door coupe – Polestar’s first ever production car -- was recently unveiled, not a few people’s curiosity was piqued as to how much they...
by - October 21, 2017
The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries