Alex who according to another Di interview has Saabs in his garage and one Lambo has been talking to DI.
Alex has his own car blog at http://alexmascioli.wordpress.com
Google translated from www.di.se
Racing driver who is taking over Spyker
“Our business is safe.” It says Alex Mascioli, racing driver behind the U.S. private equity firm North Street Capital are planning to buy the Spyker sports car business from Saab’s owner company Swedish Automobile. But he would be interested in investing in Saab denies he said. “I’m just a Spyker guy,” he says.
It is now two weeks since it became clear that the Saab owner General Swedish Automobile plans to sell the Spyker sports car business to U.S. private equity firm North Street Capital for 32 million, approximately SEK 300 million.
Swedish Automobile stressed that the deal with North Street Capital is still very uncertain. At the same time announced that the Russian businessman Vladimir Antonov company CPP, which had previously wanted to buy the Spyker sports cars, that there is still an interest in a business.
But when di.se reach Alex Mascioli, owner and founder of the American private equity firm North Street Capital, based in Connecticut, the picture is different.
“We are not in competition with the CPP to buy Spyker. Our business is safe,” he says to di.se, and points out that there is a cash transaction that will be in port on December 1.
North Street Capital, which has a very sketchy website and not sign with their holdings, is wholly owned by Alex Mascioli – racing driver and sports car enthusiast.
“It’s been a busy year so I have not competed in years, but before,” he says.
Through his own company he runs a hedge fund and invests in listed and unlisted companies in industries such as telecommunications, transportation and technology. And he has his own blog where he writes about sports cars.
Why are you so interested in sports cars? “I think many men are there. It starts when you’re a little boy. It’s a bloke thing,” he says and laughs out loud.
If the deal works out as planned, it will be North Street Capital’s first investment in the automotive industry.
“I talked to Victor (Muller) back and forth and when things were on the ice with the CPP and the opportunity came up we decided to implement the deal,” said Alex Mascioli.
The plan is a growth of 20 percent per year over the next few years, according to Alex Mascioli is a production of about 50 cars a year. Spyker’s exclusive sports cars, which have been seen in films like Pink Panther and Basic Instinct 2, had only a production of 37 cars in 2009 and it is uncertain whether any cars at all production last year.
“Victor (Muller) has obviously had some battles to fight so things slowed down for a period, but with this new acquisition, Spyker to breathe independently and go back to what the company does best – building cars,” says Alexis Mascioli and says he wants to make the Spyker brand more known.
“Everyone loves to see a Spyker on the road, but it’s not everyone who knows what kind of car,” said Alex Mascioli.
The plan is to keep Victor Muller as CEO.
“Nothing needs to change. He (Muller) do a great job,” says Alex Mascioli.
If you are not afraid to go in and buy Spyker in view of the company’s losses? “I have no doubt that buying Spyker. The losses are minimal. There is no loss in Saab Spyker.”
Spyker reported a loss before tax of around 23 million euros in 2008 and 2009, over 200 million. Last year, after the acquisition of Saab’s loss before tax of SEK 1.4 billion.
Alexis Mascioli says that he and Victor Muller know each other through a “mutual friend” and that they have not done business together before.
“Victor (Muller) was here last week and then went back to Sweden, with everything going on there. This deal is something we have done both as business partners and friends,” said Alex Mascioli and says that he and Victor Muller parts interest in cars.
“I am a car guys. I have always driven race cars and collected on cars and he is the same type of person.”
The interest in sports cars parts Alex Mascioli also by Vladimir Antonov, but the two are not familiar, he says.
“I have never met Vladimir Antonov, I have never spoken to him or done business with him.”
North Street Capital has expressed interest in Saab, and Muller has been in the U.S. recently to negotiate a sale also by the Swedish automaker, as a fallback plan to save Saab. It said a source with good insight into Saab di.se.
But there is no Alex Mascioli confirm.
Is there any interest on your part to buy Saab? “I have not talked with any Saab. Right now I end just Spykeraffären. I’m just a Spyker guy,” he says.
Can you change your mind or is it definitely that you are only interested in Spyker and not by Saab? “I have no idea what the future has to tell, but right now I read only if Saab just like everyone else.”