Wheeler revs up to sell TVR for £15M
Discussion
Sunday Telegraph Business News said:
TVR, the maker of cult sports cars, has been put up for sale by Peter Wheeler, the entrepreneur, for about £15M. Wheeler, who has owned the business for the past twenty-two years, is understood to have approached a number of possible buyers, including a wealthy American financier. Another potential bidder is thought to be Creighton Brown, a motor racing vetran who was once joint owner with Ron Dennis of McLaren international, the Forumla One racing team. In the past Wheeler has tried and failed to sell the business to Alchemy Pertners, the private equity form led by Jon Moulton which came close to buying MG Rover. TVR, which is based in Blackpool and made its forst car in 1949, is famous for its supercars, which are all built to the individual customer's specifications. The company's flagship car is the Tuscan S, which has a top speed of 195mph.
So
given the population of PH, I calculate that the £15M price tag would be less than a grand each (and leave enough cash left to develop the next model!). So: Who's up for it? 
Also, how exactly does the top speed of the Tuscan add to this report?
Sheepy
Wasn't it the Telegraph that slagged Peter Wheeler off and that was why Ted got the interview with him to give him a chance to reply?
So it does not make sense that the Telegraph would have 'exclusive rights' to a story like that. Seems to me that it is a slow motoring news day and they are possibly resurrecting old rumours or simply making it up (all IMHO of course).
I think I will wait for Mr Wheeler to make a proper statement about whether he is going to sell or not before I believe anything written in the tabloids. Yes I used that description deliberately. There are NO quality papers left now.
Ace-T
So it does not make sense that the Telegraph would have 'exclusive rights' to a story like that. Seems to me that it is a slow motoring news day and they are possibly resurrecting old rumours or simply making it up (all IMHO of course).
I think I will wait for Mr Wheeler to make a proper statement about whether he is going to sell or not before I believe anything written in the tabloids. Yes I used that description deliberately. There are NO quality papers left now.
Ace-T
I was reading the review of the T350 in the Telegraph a couple of weeks ago. The guy clearly wasn't keen on it which is fair enough, everybody is entitled to their own opinion, but this statement made me lose any faith in anything he'd written.
I suppose you prefer a car where you can safely fall asleep at the wheel then?
Andrew English said:
You have to concentrate to keep the car on track, even on a motorway.
I suppose you prefer a car where you can safely fall asleep at the wheel then?
The Telegraph guy Andrew English wrote a bad report about the Griff years ago, and was basically barred from ever driving one from the factory IIRC.
They gave him a T350C, and he wrote another report... moaning about things like the boot hinges and the fuel filler - which everyone else has praised for their design... I just think he doesn't "get" TVR's...
As for the rumour.. sounds like a lot og b
x to me...
They gave him a T350C, and he wrote another report... moaning about things like the boot hinges and the fuel filler - which everyone else has praised for their design... I just think he doesn't "get" TVR's...
As for the rumour.. sounds like a lot og b
x to me...
gearboxman said:Nah, more like I need to type the report in correctly (couldn't find an on-line version).
I think the Sunday Telegraph needs to get a spell-checker
FWIW, £15M seems a little bit low. However I don't think that the motoring department (ie Andrew English) hating TVR would really have an effect on the Business Dept writiing speculative stories.
Anyone know any more on this, or is it just an excuse for the Sunday Torygraph to print a piccy of a yellow TVR!
Sheepy
www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/05/02/cntvr02.xml&menuId=242&sSheet=/money/2004/05/02/ixcity.html
Wheeler revs up to find a buyer for £15m TVR
By Grant Ringshaw (Filed: 02/05/2004)
TVR, the maker of cult sports cars, has been put up for sale by Peter Wheeler, the entrepreneur, for about £15m. Wheeler, who has owned the business for the past 22 years, is understood to have approached a number of possible buyers, including a wealthy American financier.
Another potential bidder is thought to be Creighton Brown, a motor racing veteran who was once joint owner with Ron Dennis of McLaren International, the Formula One racing team. In the past Wheeler had tried and failed to sell the business to Alchemy Partners, the private equity firm led by Jon Moulton which came close to buying MG Rover.
TVR, which is based in Blackpool and made its first car in 1949, is famous for its supercars, which are all built to the individual customer's specifications. The company's flagship car is the Tuscan S, which has a top speed of 195mph.
Claire
Wheeler revs up to find a buyer for £15m TVR
By Grant Ringshaw (Filed: 02/05/2004)
TVR, the maker of cult sports cars, has been put up for sale by Peter Wheeler, the entrepreneur, for about £15m. Wheeler, who has owned the business for the past 22 years, is understood to have approached a number of possible buyers, including a wealthy American financier.
Another potential bidder is thought to be Creighton Brown, a motor racing veteran who was once joint owner with Ron Dennis of McLaren International, the Formula One racing team. In the past Wheeler had tried and failed to sell the business to Alchemy Partners, the private equity firm led by Jon Moulton which came close to buying MG Rover.
TVR, which is based in Blackpool and made its first car in 1949, is famous for its supercars, which are all built to the individual customer's specifications. The company's flagship car is the Tuscan S, which has a top speed of 195mph.
Claire
gearboxman said:
As a p.s. to the last post, I've just spoken to one of the Tuscan drivers.
He's been racing at Croft this weekend.
He's heard nothing.......
Mind you, if he's "just" a driver he wont know what goes on in the boardroom.
I agree with the above- £15Million does sound cheap, though...
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