TVR price

[firefox1712]

What was the purchase price of the TVR company? Did Peter Wheeler take it all in cash?

firefox

[iainjones]

Reported at £15m, if it was cash, the taxman may be interested and its drinks on PW!!!

Regards
Iain

[firefox1712]

That's what I heard seems like somewhat good value to me.

Can you point me to a news service that can confirm the price?

firefox

[Graham]

Its a private company so i expect we'll never know..

[suffolkfox]

The price is likely to have included his wages to continue as a consultant plus other retained options, possibly company pension contributions and or future agreed payments, hence spreading the tax burden, and therefore you are very unlikely to see a definitive answer to the question.

[DJC1001]

One publication reported that the £15m did not include the buildings - which are believed to be owned by PW.
I have seen a seperate publication which put the price at £22m.
With 'rumoured' profits well below £1m either of the above figures looks high but depends on value of assets

[rev-erend]

15 million is being spread around .. but it might well be high .. several pottential buyers took a back seat purely for the reason that in a month or 2 the company would have been in receivership with debts estimated at 5~10 million.

I think 10 ~ 15 million would have been how much was paid (to include the debt write off..).

Oh - by the way only 1/2 the land was owned the other half was leased.

Ever wonder why parts supply for other models was in such short supply .. add 2 + 2 and guess the answer above.

[dickymint]

The Sale of the shares will have to be declared in the annual accounts.But not neccessarily any other deals.

[rev-erend]

Aye.. and you should also see the profit / losses and saleries of the directors !

[firefox1712]

Well, I am aware that some years ago Peter Wheeler was allegedly paying himself £1m p.a.! Maybe that increased in recent years.

I am surprised to hear of the debts. Short of carrying out a full search on the company we would have no way of confirming that - unless someone else has specific information.

Very surprised to hear of impending, alleged, receivership - any more info on that? They are making good cars that sell well and expanding their dealership base.

cheers!
firefox

[grady]

Sorry to say that growth, particularly rapid growth, can be fatal to a company without deep pockets.

Anyone know what their sales (# of cars) have done in the past 3 years. My sense is it has been increasing at a good clip.

>> Edited by grady on Friday 17th September 16:42

[stainless_steve]

The debt was 9 million

[firefox1712]

Hmm - this is becoming more interesting. Anyone got a reference that confirms all this? - otherwise I might consider a company search.

Any other views/knowledge?

[19560]

grady said:

Anyone know what their sales (# of cars) have done in the past 3 years. My sense is it has been increasing at a good clip.

I think that they've been about static now at about 1,000 cars for six or seven years.

[firefox1712]

So Los Angeles -

Where is this inside info from and is there any more of it?

[firefox1712]

Rev -

Where do you get this business that the TVR company was up for sale and several people declined it?