They II have experience, connections and are motivated to move things on. Some of the comments about rinsing it for a profit are not strictly true. They make money through developing a business so that the overall value increases, not just profit but share value through brand reputation, growth and competitive edge. When/if/how they come to divest their shares at that point could be an IPO or a sale to a larger business with an interest (BMW or Geely) for example. I have a little experience of investment companies and venture capital. If you work well with them and the goals are maintained it invests further and everyone benefits. The biggest risk often overlooked is that you have no control over how/when they choose to divest their part. Also if things become rough they do have a full set of knives if really needed. I would worry a little less about this given the last few years of Morgan's results.
From the families point of view it is very sensible to make the decision now. The car sales and services seem to be going very well and so they will get best value for their shares. You never want to sell when things are going badly do you?
I also note the comment about the staff becoming shareholders, I do hope that is more than a passing comment as it would be important to keep the staff with the business in times of change and that would be a good way of focusing them on the future.
As we have all said at one time or another Morgan needs investment to be able to continue to play at an ever increasing table of costs. Regulation and other challenges become a disproportionate amount compared to revenue generated and at some point it goes down a spiral. I think this way they should be able to make the next steps and have a future.
I think it is a little sad in the same way the parting with Charles was also sad. However the team have done a great job in moving the business on and deserve the respect in my opinion.
Change does not automatically mean doom, Mr Mannering. I don't overlook the risks involved but I think this is a good call if it works out as they have been doing for the last few years.
Everyone loves a Morgan. Even me, unless it's broken again.
