JD Classics acquired by Woodham Mortimer Ltd - Business Leader News

JD Classics acquired by Woodham Mortimer Ltd

Restoration, racing and trading company for blue-chip classic cars, JD Classics, has been acquired by Woodham Mortimer Limited.

The sale safeguards the jobs of approximately 60 employees at the company’s headquarters in Maldon, Essex, and includes the company’s world-renowned workshop and restoration business, as well as its outstanding racing team.

The team of specialists employed at JD Classics has a well-earned reputation for producing work of the highest possible quality, whether it is concours-winning restorations at the world’s most prestigious events, supporting customers on the Mille Miglia, or winning on track at the highest level at events ranging from the Goodwood Revival, to the Le Mans Classic, the Spa 6 hrs and the Silverstone Classic.

The new business begins trading with immediate effect, and will benefit from a solid financial foundation that will deliver a sustainable yet ambitious development plan. Trading under the name Woodham Mortimer, the company is excited to bring a fresh new brand to the classic car market while benefiting from the established and highly-skilled JD Classics personnel, who boast unrivalled levels of combined experience and expertise within the industry.

Jean-Marc Gales, the former CEO of Group Lotus, will lead the new company as its Chairman and CEO.

Jean-Marc Gales, said: “It is fantastic news that we can today announce a future with financial security and a solid plan for growth, through the acquisition by Woodham Mortimer Ltd. Despite the difficulties of the recent past, the company remains a world-class organisation with a workforce of dedicated and highly talented individuals. We will continue to grow and develop a business that builds upon the excellence that JD Classics established. We look forward to a future at the absolute pinnacle of classic car restoration, historic competition and sales.”

Woodham Mortimer Limited is a newly established company wholly owned by HPS Investment Partners LLC, of New York. Jeff Fitts, MD of HPS Investment partners, said: “Our investment in Woodham Mortimer through this new chapter of its operations recognises its highly credible and experienced CEO and uniquely talented engineers who possess a passion for timeless design and exquisite craftsmanship.”