Racecar client - JD Classics acquired by Charme Capital Partners
JD Classics is the market-leading specialist for premium classic cars, providing retail, restoration, racing and related lifestyle services to its global ultra-high net-worth customer base
Investment and access to Charme Capital Partners’ unique global investor base will support the continued internationalisation of JD Classics
Investment is Charme Capital Partners’ first in the UK; deCAR Partners and FiveW Capital led a group of minority investors and join the Board of Directors
Charme Capital Partners (“Charme”), the pan-European mid-market private equity firm, announces that Charme III has acquired a majority stake in JD Classics (“the company”). As part of the transaction Derek Hood, founder of JD Classics, will retain a significant stake and partner with Charme and the co-investors. Terms of the transaction were not disclosed.
Founded in the 1980s in the UK, Derek Hood has built JD Classics into the pre-eminent specialist in retail, restoring, racing and exporting premium classic road and race cars worldwide with deep expertise in Jaguar, Ferrari, Aston Martin, Mercedes, and Maserati, among others. The company today employs 60 expert technicians, craftsmen and engineers across its purpose-built engineering and sales complex in Maldon and its showroom in Mayfair, London.
The company provides its global base of customers with a full-service offering, from sales and after-sales; restoration and upgrading; to racing and lifestyle services. Services also include worldwide collection/delivery/storage, financing, entry to high-profile events, bespoke vehicle commissions, driver training, on-site race support, and logistics.
JD Classics is a main partner of the most famous classic racing events in the world: the Mille Miglia, Goodwood Revival and Le Mans Classic. JD Classics also has trophy cabinets full from winning the world’s leading classic car concours events such as Pebble Beach and historic races such as the Grand Prix de Monaco Historique, Goodwood Revival and Le Mans Classic.
As part of the transaction, Charme and co-investors will invest significant capital in the company to maintain the best service offering for JDC’s valued customers; this will enable an international retail footprint, additional team hires and continued access to unique classic cars. Specifically, Charme and JD Classics have already identified a number of compelling opportunities to accelerate the company’s international growth in the large, liquid market for classic cars across the US, Europe, Asia and the Middle East, including potential acquisitions. The partnership will also provide JD Classics with access to Charme’s unique global investor base, which includes many of the world’s leading industrialist families.
Charme’s investment in JD Classics is the firm’s first in a UK-based business, and follows the launch of its London office in November 2015. The investment is the second made from Charme III to date, following the July 2016 acquisition of Spanish reproductive genetic testing company Igenomix.
Christopher Fielding, Partner at Charme Capital Partners, said:
“JD Classics represents a fantastic opportunity for Charme to support a national champion and to cement its place as a global leader. Working in partnership with Derek Hood and his talented team with the support of our unique investor base, we plan to help JD Classics build on its impressive growth, while protecting what makes the company unique: its expertise, passion and customer focus.”
Derek Hood, Founder and Chief Executive Officer of JD Classics, said:
“This is an exciting development for JD Classics and I am delighted to be partnering with Charme Capital Partners. I have always had a clear vision for JD Classics and for the potential of the classic car business internationally supplying the very best prepared classic cars, a vision that is shared by Charme. They have the right mindset, approach and track record to take the business I have built over the past 30 years to the next stage, and I look forward to being part of that journey.”