13 May 2004

TVR has denied that its owner, Peter Wheeler, has ‘put the company up for sale’, but let it be known that the Blackpool sports car company could probably change hands if the right buyer came along.

Reports last weekend suggested that Wheeler had received offers around £15 million from a number of potential buyers — believed to include the former McLaren shareholder Creighton Brown and ‘a wealthy American financier’.

Newspapers claimed that Wheeler had previously tried to sell the company to Jon Moulton of Alchemy Partners, the company that tried to acquire Rover Group from BMW four years ago.

TVR general manager Ben Samuelson told Autocar that Wheeler ‘is far from trying to sell’, though he would entertain offers at the right price.

‘Peter is still in the office working every day, and he cares as much about TVR as he did five or 10 years ago,’ he said. ‘But no company is beyond price. Even the Quandt family, which owns BMW, would sell if the offer was big enough.’ TVR made its first car in 1949 and was acquired 22 years ago by Wheeler, an oil millionaire. It builds around 800 cars a year, having hit a peak of around 2000 in the late ’90s.

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