Fiduciam facilitated the launch of new sports car
Fiduciam facilitated the launch of the new TVR sports car by providing a funding line for both the Wales-based factory and development and manufacture of the car.
This is revealed after the car launch on Friday at the Goodwood Revival Festival in Chichester.
The development of the car and investment of the production facility in Wales represents £30m of capital expenditure over a period of five years.
Johan Groothaert, director of Fiduciam, said: “Our financial backing is an endorsement of TVR’s ability to successfully bring its stunning new car to market, while creating many new valuable manufacturing jobs in Wales.”
John Chasey, chief executive of TVR, added: “Fiduciam made the difference for us, and their loan was one of the key components that made it possible to reach today’s important milestone of unveiling our new car.”
Fiduciam provided an initial multi-drawdown, interest-only facility of £6m secured over the company’s and guarantors’ assets.