MDV And Caparo Lead Investment In Gordon Murray Design Limited
London And Menlo Park, Calif., April 25, 2007
Gordon Murray Design Limited announced today that it has raised funding from U.S.-based venture investor MDV-Mohr Davidow Ventures and U.K. based Caparo Group. Gordon Murray Design Limited will be a design, prototyping and development company with an in-house capability to undertake automotive and other engineering programs in an efficient and innovative way.
“Gordon Murray is recognised around the world as a creative force in automotive design. He has repeatedly delivered innovation to the market,” said MDV’s Jonathan Feiber, a director with the company. “Throughout Gordon's career he has led the way in styling and packaging, advanced aerodynamics and suspension work, and investigated and applied new techniques and technologies. He was among the first, for instance, to employ carbon chassis panels and on-board timing and he has won numerous awards and accolades for his pioneering design and engineering work in automotive technology.”
Angad Paul, Caparo group’s CEO confirmed, “Caparo’s belief in Gordon’s capabilities is already exemplified through his involvement with our Vehicle Products group in his role as Director of Advanced Concepts. Working with Gordon and Gordon Murray Design Limited will undoubtedly result in new levels of innovation; something Caparo and Gordon are passionate about. We are excited and honoured to be working with Gordon who is, without question, a legend in automotive engineering.”
About Caparo Group
Caparo is a fast growing, global manufacturing and investment group with a turnover approaching $1.2bn. Caparo’s operations are located at over 50 sites in the UK, North America, India and Spain. The group was founded in 1968 by Indian born British Industrialist, Lord Paul of Marylebone, who remains Chairman, and now employs circa 6,000 people worldwide. Caparo’s recent growth under CEO Angad Paul has been rapid. Since 2004 turnover has increased by 35%. In 2006 alone, Caparo acquired 22 UK companies, initiated the development of a number of major new businesses in India, made significant additions to its US activities and initiated trading operations in Dubai and China.
With traditional business interests predominantly in the manufacture of steel and engineering products, Caparo has recently developed the Caparo Vehicle Products division, CVP. CVP is a group of tier 1 component design, engineering and manufacturing companies providing advanced solutions for the automotive, aerospace, military and motor sports markets, with global manufacturing locations to service both high volume passenger vehicles along with specialist niche applications.
The CVP portfolio consists of a wide and varied range of products and services including: bespoke braking systems; body in white pressings and assemblies; design and manufacture of composite crash structures; castings of engines and engine components; seamless precision manipulated and coiled rigid tube assemblies; specialist forging and fasteners, grooved/cylindrical and spring pins; niche market metal pressings and fabricated assemblies, as well as providing technology development, materials engineering and design services and many other engineered products for the world’s leading manufacturers. For more information, please visit www.caparo.com
About MDV-Mohr Davidow Ventures
MDV-Mohr Davidow Ventures is a leading Silicon Valley-based venture capital firm investing in entrepreneurs building start-up companies capable of re-segmenting large existing markets or building altogether new ones. The firm invests in the areas of Cleantech, Internet technologies, and Life Sciences. Since its inception in 1983 the firm has built a reputation among entrepreneurs as a partner by taking a hands-on approach to investments and working skilfully to architect and build successful companies. MDV has $1.4 billion under management. For more information, please visit www.mdv.com
Gordon Murray Design Limited will provide further details this summer about the team, projects and partnerships.
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For media enquiries contact:
Tiffany Hutt, Gordon Murray Design Limited
enquiries@gordonmurraydesign.com
Pamela Mahoney, MDV-Mohr Davidow Ventures
pmahoney@mdv.com
Michelle Newson, Caparo Industries Plc
michelle.newson@caparo.com