Millbrook Proving Ground, one of Europe’s leading independent technology centres for the design, engineering, test and development of automotive and propulsion systems, is pleased to confirm that the acquisition by Rutland Partners was finalised at midnight on November 30, 2013.
The sale, which was announced in October 2013, sees ownership transfer from GM to London-based Rutland Partners for the entire Bedfordshire site which covers 290 hectares of land, has 70km of test tracks, employs over 400 people and operates 24 hours a day, seven days a week. This transfer heralds the beginning of a very positive new era for Millbrook, with Rutland’s involvement securing access to funds and strategic resources to support investing in people, technology and business growth. Millbrook is now able to grow its technological capability to continue delivering excellence to all its clients and strategic partners. Furthermore, the transfer will enable Millbrook to embark on a growth plan addressing market opportunities in the UK and overseas.
Miguel Fragoso, CEO of Millbrook, commented: “We are delighted that the sale has now passed the final stages smoothly and that we can announce the completed transfer. We look forward to taking Millbrook into the future with new investment and development and to build upon our forty plus years’ of experience. This is a very exciting time for Millbrook, our employees and our clients.”
