What is it?
Picture Britain’s typical family-owned and operated business. The sort that mothers and fathers pass on to their kids, or in which uncles, aunties and cousins all pitch in together. You’re imagining a chip shop, right? Just me? Perhaps a pub, a corner shop or a post office, then. Not a car factory, I’d bet.
Well, just imagine one – if you can. It won’t be easy. Making cars isn’t something you succeed at simply by getting up early, drinking lots of tea, getting your hands dirty and having a go. It’s complicated. It requires up-to-date specialist know-how, and expert design, engineering and manufacturing skill. Peeling spuds, pulling pints or stamping envelopes, it ain't. And yet The Morgan Motor Company was family-owned and operated right until the year of its 110th anniversary; this year. Not a bad innings, that.
Change has finally come to Pickersleigh Road, however. Earlier this year, the Morgan family decided to sell a majority share of the business to the Investindustrial private equity group that previously owned Aston Martin until its recent market flotation.
Ask around at the firm’s visitors’ centre as to why that decision was taken, and the answers come very honestly. “It was the right offer, when all the others over the years just weren’t,” one staffer said. “We’d reached the point where the family was beginning to hold the company back rather than drive it on. Growing the business now needs investment and well-connected, industry-savvy leadership. Which, we’re hoping, is what we’ve now got.”