Aston Martin, which recently unveiled its new Vantage model, is on course to post its first annual pretax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance. So what better time for investors to get in on the fun?
Aston's owners have hired investment bank Lazard to prepare for a stock market listing or sale of the British sports-car maker, sources told Reuters. Italian private equity fund Investindustrial and a group of Kuwaiti investors, who together own more than 90 percent of the marque, are hoping to cash in on a recovery in sales and are in the initial stages of a strategic review.
They have hired Lazard to work on a plan and could either opt for an IPO in the third or fourth quarter of 2018 or a trade sale, the sources said. A deal could value Aston Martin at between $2.6 billion and $4 billion, one source told Reuters. However, no final decision had been made and the investors could decide to retain control, the sources said.
If Aston's owners need any inspiration they need only look at the striking success of Ferrari's 2015 Wall Street debut. Ferrari has more than doubled its value in 24 months, which is extraordinary for an automaker building cars with internal combustion engines rather than EVs.