Miniature classic car-maker Hedley Studios revs up rescue deal

A institution which makes miniaturised electrical versions of classical cars has secured a rescue woody led by an American merchant banking group.

Sky News understands that the aboriginal of Hedley Studios - formerly known arsenic The Little Car Company - has been salvaged done a pre-pack medication deal.

FRP Advisory is understood to person acted arsenic head earlier selling the concern to an entity controlled by Island Capital Group.

Hedley Studios was founded successful 2018, erstwhile luxury car-maker Bugatti approached Ben Hedley to spot if helium could recreate a 1920s Type 35 racing car astatine half-scale to people its 110th anniversary.

In a connection issued successful effect to an enquiry from Sky News, the institution said it had built and delivered much than 500 vehicles to clients successful much than 60 countries successful the past 17 months.

Hedley Studios manufactures its cars astatine three-quarters the size of the archetypal model, with the resulting vehicles typically costing £75,000 oregon more.

"We're thrilled to invited Island Capital Group arsenic a strategical spouse successful the adjacent signifier of Hedley Studios' growth," Mr Hedley said.

"Its concern and content successful our imaginativeness people a pivotal infinitesimal for the institution arsenic we accelerate our enlargement and scope caller planetary audiences.

Hedley Studios makes its cars successful concern with a scope of luxury manufacturers, including Aston Martin, Bentley and Ferrari.

Andrew Farkas, founder, president and CEO of Island Capital, which initially backed Hedley Studios successful 2023, said: "This latest concern is testament to the entrepreneurial tone of Ben and his squad successful gathering a palmy British luxury marque successful a abbreviated play of time.

"Automotive enthusiasts globally are progressively keen to honour these historical icons, bringing them to caller audiences successful a new, afloat electrical way.

"Our broader concern marks the opening of a caller section for Hedley Studios, reinforcing its presumption arsenic a person successful the instauration of luxury, driveable artworks, and Island Capital is excited to beryllium portion of that maturation journey."