Bloodhound SSC HAS Been Saved By UK Turbocharger Entrepreneur
Good news! Bloodhound SSC has been saved thanks to Yorkshire, UK entrepreneur Ian Warhurst. The project to achieve 1000mph in a land vehicle went into administration in October, and on December 7 it was announced that the administrators had been unable to raise the £25 million investment required. However, Andrew Sheridan and Geoff Rowley, Joint Administrators of Bloodhound Programme Ltd, were subsequently contacted by a number of interested parties, and the business and assets are now being bought for an undisclosed amount.
Ian Warhurst has previously featured in the Britain’s Top 100 Entrepreneurs list by Management Today. He owned Melett, a supplier of automotive replacement turbo repair kits, from 2002 before selling it in late 2017, staying on as Managing Director.
Andrew Sheridan, Joint Administrator and partner at specialist advisory firm FRP Advisory LLP, said: “We have been overwhelmed by the passion that clearly exists for Bloodhound and are thrilled that we have been able to secure a buyer who is able to give this inspiring project a future. Ian has a strong background in managing highly successful businesses in the automotive engineering sector and he will bring considerable expertise to bear in taking the project forward. He will be outlining his plans for the project in detail early in the New Year. In the meantime, we would particularly like to thank the Ministry of Defence and Rolls Royce for their support and collaboration throughout this process, without which it would not have been possible for the project to be in a position to continue.”
Images courtesy of Bloodhound SSC