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Aston Martin Sold. And Again and Again...

Filed in archive British Cars by Philip Powell on March 13, 2007

Aston Martin Zagato

Much is being written about Ford's sale of "Aston Martin" to F1 backer David Richards, Aston Martin collector John Sinders, and Investment Dar and Adeem Investment Co... two companies headquartered in Kuwait. This is yet another in a lengthy history of ownership changes for the illustrious British sports car maker, whose origins reach back to pre-WW1 days when Old Etonian Lionel Martin built a car to compete in the Aston Clinton hillclimb. Hence the name, Aston Martin.

By 1924 Lionel Martin had produced about 50 cars but his resources were depleted so Lady Dorothy Charnwood and her son joined the board of directors with a substantial cash input. Just one year later Aston Martin was for sale. William Sommerville Renwick was the eventual buyer, paying a mere £3600. Renwick had been employed by car-builder Armstrong-Siddeley and brought with him Augustuslinks Cesare Bertelli, who was responsible for Aston designs from 1926 to 1927. Various wealthy enthusiasts contributed money to keep the firm alive until 1932, when Aston Martin was again purchased, this time by shipping tycoon Sir Arthur Sutherland for his son R. Gordon Sutherland.

After 15 years of ownership Sutherland advertised the company in The Times. The buyer was David Brown, owner of a tractor-building firm, whose lengthy tenure with Aston Martin turned the tiny firm into a giant among specialist builders.

Racing played a role during Brown's ownership, his cars recording victories at LeMans, Spa, and other international endurance events. James Bond, of course, made the marque familiar to film-goers all over the world. But in 1972 David Brown realised he could no longer carry the burden of a money-loser on his shoulders. This time Aston Martin went to Company Developments, an arrangement that lasted less than two years. It then became the jewel in the crown of Canadian hotelier George Minden, backed by American Peter Sprague. (For enthusiasts like me, who frequented Minden's Windsor Arms Hotel in Toronto, it was great fun to boast that we were drinking in the bars of Aston Martin's owner.) There were many exciting moments during that era, including the creation of a separate company, Nimrod Racing Automobiles, to deliver a win in the LeMans 24-hour race. Nimrod failed to achieve that goal, settling for a third in the 1982 World Endurance Championship.

The Minden/Sprague duo eventually sold Aston Martin to CH Industrial who, in 1983, turned the company over to Automotive Investments. That arrangement lasted barely a year before Aston Martin once again changed hands, this time to Peter Livanos and chairman Victor Gauntlett. In 1987, the Ford Motor Company purchased 75% of Aston Martin, later gaining full ownership. Ford's financial input helped until its own well ran dry. America's many "Aston Martin enthusiasts" hope the new owners will turn the marque into a winner, at the bank and on the track.


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