CPP GOES OFF ROAD TO ACQUIRE BOWLER

• Specialist coachbuilder CPP acquires Bowler, manufacturer of the Nemesis high performance cross-country racer • The combined management team has exciting plans to develop the brand and products CPP Global Holdings Ltd, the specialist coachbuilder based in Coventry, UK, has acquired Bowler Off Road Limited, the Derbyshire-based manufacturer of the Nemesis high-performance cross country racer, for an undisclosed price. The acquisition was completed in January 2011 following several months of positive dialogue between CPP and Bowler and the completion of a due diligence process. Brendan O’Toole, managing director of CPP, said: “This acquisition is extremely positive news for fans and customers of Bowler vehicles. I have followed the brand closely for several years and am delighted to have the opportunity to take the Bowler brand to new heights on the basis of very exciting plans. I’m looking forward to working with Drew Bowler and the exceptionally talented team at Bowler to bring these plans to fruition. This development is another step in CPP’s strategy to grow as a collection of complementary specialist automotive businesses.” Drew Bowler, managing director of Bowler, said: “I’m very excited that we are joining the CPP group of companies. Bowler will expand and reach its full potential thanks to the access we now have to greater resources in a number of respects: finances, the highly skilled workforce, its technical capabilities and advanced facilities. We will continue to do what we do best, which is developing, engineering and racing our cars. CPP will bring first-rate commercial and manufacturing expertise to our business, ensuring it meets the quality and integrity that our customers will expect. And there are dramatic plans for the business over the longer term.” Bowler was founded by Drew Bowler in 1999 and produces its Nemesis high performance off-road racer, based on current Land Rover technology, to meet the FIA T1 specification for the World Cup Cross Country Championship. Several Bowlers run by private customer race teams have completed the gruelling annual Paris-Dakar Rally over the last decade. Development and engineering will remain at Bowler’s current facilities in Belper, Derbyshire. Production, including of the Nemesis EXR road-going variant from early 2012, will be transferred to CPP in Coventry. Further plans will be announced in due course. CPP’s acquisition of Bowler follows an announcement of 24 February 2011 that it signed a Memorandum of Understanding to acquire the assets of the Spyker sports car business from its publicly-listed holding company, Spyker Cars NV. CPP is a world-class British coachbuilding company with a workforce of 250 highly skilled automotive specialist designers, technicians and craftsmen. It has vast experience working with global luxury car brands, by adapting standard vehicles, or undertaking full production of ultra-low volume standalone models. Over the last 16 years, CPP founder and managing director, Brendan O’Toole, has grown the Coventry-based business continuously, and the partnership and support of Vladimir Antonov, a passionate car enthusiast and chairman of Convers Group, a Russian investment business, has seen this growth accelerate during the last two years. The Bowler acquisition is yet another milestone in the expansion of CPP, which is creating more jobs at the automotive specialist group, and indirectly at a wide range of automotive specialist suppliers based in the West Midlands. - Ends -