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Le Mans / ALMS
INDUSTRY: Lola Set To Continue Under New Leadership
SPEED.com EXCLUSIVE: Multimatic, Haas Auto believed to have acquired remaining assets, set to form partnership for licensing rights of Lola name...
The Lola brand appears to have found a new home, with Multimatic Engineering and Haas Auto believed to have acquired the licensing rights and remaining assets of the famed British constructor. (Photo: LAT)
While the future of the British constructor appeared to be in jeopardy following last week's news of the bankrupt company ceasing operations, the Lola brand is set to live on under a new set of operators.
SPEED.com has learned that Lola Group Holdings, owner of the Lola brand and intellectual property not affected by the company's fall into administration, is believed to have reached a licensing agreement with Multimatic Engineering and Haas Auto to use the brand's name and intellectual property.
Additionally, it's understood that the existing assets of Lola Cars that were up for sale by the joint administrators has also been acquired by the two companies, including the current stock and inventory of LMP parts and tooling to continue production and customer support.
Lola Group Holdings declined comment on the believed acquisition, but offered the following statement, courtesy of Sniffer Media, to SPEED.com:
"Further to the press release issued by the joint administrators of Lola Cars International Limited (in administration) and Lola Composites Limited (in administration) on Tuesday 9th October, which related solely to the trading of the two subsidiaries, Lola Group Holdings wish to put the record straight by making the following statement.
"Lola Group Holdings Limited is the owner of the Lola brand and all Lola intellectual property. Lola Group Holdings has reached agreement with the joint administrators, through participation in a sealed bid tender, to purchase the remaining Lola Cars International stock and inventory which includes current LMP stock and tooling to enable the continued manufacture of parts to service Lola customers.
"Lola Group Holdings is also able to announce that it is in advanced negotiations with parties to form a partnership to service Lola customers in the future. Lola Group Holdings is making available a license for the intellectual property and existing inventory.
"The Lola facilities in Huntingdon, which includes the 65,000sq ft of offices and factory plus the 15,000sq ft wind tunnel and technical facility with F1 capability, is owned and controlled by other group companies and are available for sale or [lease].
"The factory includes a fully equipped composites manufacturing capability with autoclaves, 5 axis machining and all the other equipment necessary to undertake composites manufacture for top level motorsport. The technical center remains fully operational and is undertaking consultancy work and wind tunnel testing for automotive and motorsport customers."
The latest development in the Lola saga comes following the news earlier this month that the remaining employees were laid off at Lola Cars International. Administrators CCW Recovery Solutions put the company's assets up for sale last week.
Toronto-based Multimatic hired a number of ex-Lola employees following the company's fall into administration in May, including chief designer Julien Sole, former managing director Jean Marchioni and head of Lola Cars U.S. manager, Stephen Charsley.
Additional details of the believed arrangement are still unclear at the moment.
Stay turned to SPEED.com for the continuing developments.
John Dagys is SPEED.com’s Sportscar Racing Reporter, focusing on all major domestic and international championships. You can follow him on Twitter @johndagys or email him at
SPEED.com has learned that Lola Group Holdings, owner of the Lola brand and intellectual property not affected by the company's fall into administration, is believed to have reached a licensing agreement with Multimatic Engineering and Haas Auto to use the brand's name and intellectual property.
Additionally, it's understood that the existing assets of Lola Cars that were up for sale by the joint administrators has also been acquired by the two companies, including the current stock and inventory of LMP parts and tooling to continue production and customer support.
Lola Group Holdings declined comment on the believed acquisition, but offered the following statement, courtesy of Sniffer Media, to SPEED.com:
"Further to the press release issued by the joint administrators of Lola Cars International Limited (in administration) and Lola Composites Limited (in administration) on Tuesday 9th October, which related solely to the trading of the two subsidiaries, Lola Group Holdings wish to put the record straight by making the following statement.
"Lola Group Holdings Limited is the owner of the Lola brand and all Lola intellectual property. Lola Group Holdings has reached agreement with the joint administrators, through participation in a sealed bid tender, to purchase the remaining Lola Cars International stock and inventory which includes current LMP stock and tooling to enable the continued manufacture of parts to service Lola customers.
"Lola Group Holdings is also able to announce that it is in advanced negotiations with parties to form a partnership to service Lola customers in the future. Lola Group Holdings is making available a license for the intellectual property and existing inventory.
"The Lola facilities in Huntingdon, which includes the 65,000sq ft of offices and factory plus the 15,000sq ft wind tunnel and technical facility with F1 capability, is owned and controlled by other group companies and are available for sale or [lease].
"The factory includes a fully equipped composites manufacturing capability with autoclaves, 5 axis machining and all the other equipment necessary to undertake composites manufacture for top level motorsport. The technical center remains fully operational and is undertaking consultancy work and wind tunnel testing for automotive and motorsport customers."
The latest development in the Lola saga comes following the news earlier this month that the remaining employees were laid off at Lola Cars International. Administrators CCW Recovery Solutions put the company's assets up for sale last week.
Toronto-based Multimatic hired a number of ex-Lola employees following the company's fall into administration in May, including chief designer Julien Sole, former managing director Jean Marchioni and head of Lola Cars U.S. manager, Stephen Charsley.
Additional details of the believed arrangement are still unclear at the moment.
Stay turned to SPEED.com for the continuing developments.
John Dagys is SPEED.com’s Sportscar Racing Reporter, focusing on all major domestic and international championships. You can follow him on Twitter @johndagys or email him at
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