JD Classics acquired by Woodham Mortimer
Essex-based classic car dealer rescued by US-owned Woodham Mortimer, with jobs and premises retained
So JD Classics is no more - but the business has been saved. The classic car restoration, racing and sales company will continue under a new name - Woodham Mortimer Limited - having been acquired by a business of the same name.
It means that the 60 or so employees in Maldon keep their jobs, and that the motorsport operation will continue. The stocklist is back on a new homepage - very fine it looks, too - and Jean-Marc Gales continues as CEO and Chairman.
In a press release issued today, Woodham Mortimer is said to now benefit from "a solid financial foundation that will deliver a sustainable yet ambitious development plan." While keeping hold of the people that helped JD achieve its success, Woodham Mortimer is "excited to bring a fresh new brand" to the world of classic cars.
And if the name Woodham Mortimer isn't familiar, then it shouldn't be - it's brand new, and owned outright by HPS Investment Partners LLC of New York. The HPS MD Jeff Fitts said the investment "recognises its [Woodham Mortimer's] highly credible and experienced CEO and uniquely talented engineers".
Speaking of that CEO, Jean-Marc Gales added, "It is fantastic news that we can today announce a future with financial security and a solid plan for growth... Despite the difficulties of the recent past, the company remains a world-class organisation with a workforce of dedicated and highly talented individuals."
So it would appear there's at last some good news to come out of the rather sorry JD Classics affair. Woodham Mortimer is trading as of now, with customer motorsport and restoration plans afoot as well as car sales. A new name then, though seemingly still much of what made the company a renowned name in years gone by - we look forward to seeing what comes next.
Mmmm. I particularly like the about us page.
"Woodham Mortimer is also a major sponsor of some of the largest motoring events in the world, including the Mille Miglia, Goodwood Revival and Goodwood Members’ Meeting, providing unrivalled access for our customers."
Is that so. Company has achieved a lot in its ten day existance.
Just a 'replace "JD Classics" with "Woodham Mortimer"' on the web site.
Oh, well. Must've been accidentally omitted.
https://www.pistonheads.com/gassing/topic.asp?t=17...
Oh, well. Must've been accidentally omitted.
https://www.pistonheads.com/gassing/topic.asp?t=17...
Sorry - I also must have pinched your cut/paste/replace comment about JD -> WM too.
I know it is a quick job, and they probably wanted the website up and running quickly - but it does come across as a bit dishonest. This I would have thought was something they really wanted to avoid.
Not sure I could do business with them just yet.
I trust the workforce (restorations look excellent) just not the management.
It was all a bit too easy - generate loads of free PR and paint yourselves as heroes complete with grinning photo shoot in the showroom.
I guess it’s good for peoples jobs but feels a bit sleazy somehow.
Maybe I just don’t like the thought of American investment banker types involved in the classic car scene looking to suck the blood out of it - just another get rich quick scheme.
(No basis for this - it’s just how I feel)
(A much better articulation of my own thoughts)
Has anyone any experience of dealing with Woodham since then?
I’m thinking of customers and potential Woodham Mortimer customers, whether or not they were customers of JD Classics.
It could be quite complex. What has happened to former JD customers with part-complete vehicles, asking Woodham Mortimer to pick up where JD left off? How is the work in progress measured and funded?
Also, what about former JD customers, having presumably now lost their deposits against vehicles JD had contracted to sell to them? Have Woodham honoured the contracts?
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