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WESTFIELD UK ANNOUNCES NEW OWNERSHIP
Westfield Sportscars, the market leader, in the kit car industry, has been acquired by Potenza Sports Cars Limited creating a unique opportunity to take the development of the company to new exciting levels.
Westfield currently produce 3 different models. Each has different engine options including the blistering performance from its current flagship car, the Sport 2000S with 250 plus BHP featuring a 6 speed sequential gearbox.
The company was founded by Chris Smith producing Lotus XI replicas. Over the past 24 years Chris Smith has built the company to produce high specification, quality cars with introducing European legislative requirements, such as impact and seat belt anchorage testing. Westfield was the first company to win the prestigious Low Volume Type Approval certificate and was at the forefront of the introduction of Single Vehicle Approval to the kit car industry.
The new British owners, Potenza Sports Cars Limited will build on with the Chris Smith ethos of constant development, by firstly investing to meet Euro 4 regulations to allow the Westfield Duratec powered vehicles to be registered across Europe and beyond.
Chris Smith will stay involved with Westfield on a consultancy basis and also as an investor. Holly Bond and Richard Smith will also continue with Westfield under the new ownership. The team will be run by a new Managing Director, Julian Turner who brings a wealth of experience in business, engineering and manufacturing to the company and the kit car industry.
Commenting on the acquisition, Julian said that as a Director of Potenza Enterprises Limited, the parent company of Potenza Sports Cars Ltd, he had seen how bringing wide ranging business, engineering and financial knowledge to support existing management could transform companies, even industries. Potenza Enterprises Limited had recognized similar characteristics in the Kit Car Industry to those seen in other markets where the contribution from Potenza Enterprises had been successful.
Chris says “Escalating costs of modern automotive development has made it difficult for Westfield to compete on a global level. Backed by the new investors and expertise Westfield will now have the opportunity to introduce new innovation and technology to the kit car and specialist car industry, enabling it to grow to its full potential.”
“Up until now Westfield has been run as a family business, and this is a very emotional time for the both family and our loyal enthusiastic work force. The new team is dedicated to keeping the infectious, friendly atmosphere that the Westfield enthusiast has come to enjoy over the past 24 years. This is beyond doubt an exciting opportunity to open the next chapter in the Westfield experience!”
“Westfield is already renowned for the high quality specification of its kits and complete cars” said Mr Turner “and I am looking forward to working with the whole of the team at Westfield to ensure that our products consistently redefine the quality, engineering and technology standards within our industry ”.
ABOUT POTENZA SPORTS CARS LTD
Potenza Sports Cars Ltd is a subsidiary of Potenza Enterprises Ltd
The Potenza Companies incorporated in 2000 comprise of Potenza Limited, Potenza Enterprises Limited and Potenza Technology Limited, which trade as separate companies with one common goal:
To realize the potential of people, companies and technology through involvement, investment and innovation.
Potenza has a history of involvement with the automotive industry at the forefront of training, management, and powertrain and electronics technology.
The Chairman of Potenza Enterprises who will also be Chairman of Potenza Sports Cars Limited is Frank Turner, ex Main Board Director of Rolls-Royce plc and Lucas Industries plc.
Potenza Sports Cars Ltd is advised by Hardy Transaction Management Ltd and by Keeble Hawson LLP.
For futher information please either contact us or Westfield UK