ELFIN SOLD….December 2006
by Bill Hemming
After
nearly 10 years of custodianship, Elfin Sports Cars has been
sold by Bill Hemming and Nick Kovatch to the Australian
based Walkinshaw Performance Pty Ltd, a division of Tom
Walkinshaw’s high performance automotive engineering group
which runs Holden’s V8 Supercar racing operations and Holden
Special Vehicles.
Bill and
Nick have come under a fair amount of scrutiny by Elfin
enthusiasts over the sale, which sees the Elfin Brand move
from an intensely personal ownership to a more Corporate
structure. However, it must be stressed that the sale only
occurred after almost a year of negotiations to secure the
long term viability of the Marque as an Australian built
product.
It was a
fascinating year which saw Tom Walkinshaw’s attitude change
from one of a purely commercial opportunist to a genuine
enthusiast for the cars and the Elfin heritage. As
negotiations progressed over the months, Tom would start
bringing his wife and son to the Melbourne factory to
experience and explain the Elfin story. In the end, the sale
was carried through the Walkinshaw Group board meetings by
Tom Walkinshaw himself.
From a
fairly “cool” initial approach at an impromptu visit by Tom
Walkinshaw and John Crennan, on behalf of HSV, Bill and Nick
gradually came to realize that a secure future for Elfin
Sports Cars would best be served by an organization with the
existing resources of the Walkinshaw Group.
When Bill
and Nick took over the Brand from Murray Richards in 1997,
they had modest plans to produce a range of cars that would
resurrect the Elfin Marque. This included a Clubman (which
had been substantially developed by Murray Richards), a full
bodied sports car on the Clubman chassis based on the 1960
Streamliner, a V8 rear engined road car based on the
original Elfin 400, and a new race car to maintain the Elfin
racing heritage. This business plan was to be carried out
over a long period as limited time and resources permitted.
Everything changed when Mike Simcoe, the Holden Design
Director and Elfin fan, offered to design a new body for the
existing Clubman. The project quickly escalated to include
new engines and chassis and 2 body styles, culminating with
the extraordinary launch of the Elfin MS8 Clubman and
Streamliner cars at the 2004 Melbourne International Motor
Show. By mid 2005, Elfin had firm orders and over 6 million
internet enquiries from around the world.
To
capitalize on the opportunity, Elfin Sports Cars ramped up
to a staff level of 10 and moved to a new 20,000 sq ft
factory to facilitate development and production. There was
also the 2 year process of ADR compliance to be completed.
The team were working 7 days a week and achieved remarkable
results, especially given the limited funds available. The
issue became one of timing, where there was that “window of
opportunity” that remains open for a limited time, plus a
need for sales volumes that would allow for economic
production components and facilities. There was no doubt
that Elfin needed to export to increase volumes, and to
achieve sales and production as quickly as possible.
The
Walkinshaw Group proved they were prepared to invest where
necessary to facilitate the results required. Benefits will
be numerous, from being able to access Walkinshaw’s supplier
base and technical skills, to taking advantage of export
opportunities via HSV’s growing sales channels in overseas
markets. They also have firm plans for continued product
development.
In the
same vein as Colin Chapman with Lotus, William Lyons with
Jaguar, etc, there is and should be continued recognition of
the Elfin era under Garrie Cooper as the “Golden
Era” that
established the reputation of the brand. History shows that
a brand can still flourish with the right management
attitude and respect for the Marque’s heritage. The sale of
Elfin was based on the belief that the new owner’s will
achieve a bright future, which can only enhance the heritage
Bill
Hemming
30th January 2007
[Back]
|
