Warwickshire car-maker Aston Martin has confirmed production will stay at its Gaydon headquarters following the formal completion of its partnership with Italian private equity fund Investindustrial.
Aston Martin announced in December last year that Investindustrial was to buy a 37,5 per cent share of the firm for £150 million, paving the way for growth and the development of new models.
The luxury car manufacturer said the completion of the deal gave the green light to an investment programme that would see £500 million ploughed in to the firm over a five-year period.
In a statement the company said: “The investment underpins a significant new product development programme of more than half a billion pounds over the next five years.
“With the support of major shareholders The Investment Dar, Adeem Investment and, now, Investindustrial, Aston Martin is well positioned to realise its ambitious growth strategy.
“Aston Martin production will remain at the luxury British marque’s global headquarters at Gaydon in Warwickshire, a purpose-built facility where a skilled workforce assembles the current range of sports cars.”
Details of the company’s first quarter results for 2013 are to be announced to bondholders in May.
Investindustrial, which has £2.5 billion of assets under management, has said it hopes to rejuvenate the brand in the same way it transformed Italian motorcycle maker Ducati.