John Morrison Posted April 14 Report Share Posted April 14 Pretty much agree with all the negative comments here, and I think that in years to come, we,ll come to see that parts availability for our cars, some quality issues aside, was pretty good. John Quote Link to post Share on other sites
RogerH Posted April 14 Report Share Posted April 14 Our TR's have been served very well by C&B, Moss whatever over many years. Even new cars have quality issues. We have been very lucky. Roger Quote Link to post Share on other sites
ianc Posted April 14 Report Share Posted April 14 I wouldn't say "lucky". Why ? Because Pete Buckles above all believed in "Preserving the Marque" (once the mantra for the TR Register - remember) and he pursued this policy with dogged determination, and was followed by others of similar ilk. We have been exceedingly fortunate to have benefitted enormously from Pete's farsightedness, which has meant that parts for TRs are, on the whole, readily available and not expensive - anyone who owns a modern will have knowledge of difficulties with parts and the cost thereof. Has anyone explored the record of the group acquiring Moss and Rimmers, to see how the other companies under its control have performed, and, in particular, how the customers using the acquired companies have fared ? ian Cornish Quote Link to post Share on other sites
BlueTR3A-5EKT Posted April 14 Author Report Share Posted April 14 (edited) 2 hours ago, ianc said: I wouldn't say "lucky". Why ? Because Pete Buckles above all believed in "Preserving the Marque" (once the mantra for the TR Register - remember) and he pursued this policy with dogged determination, and was followed by others of similar ilk. We have been exceedingly fortunate to have benefitted enormously from Pete's farsightedness, which has meant that parts for TRs are, on the whole, readily available and not expensive - anyone who owns a modern will have knowledge of difficulties with parts and the cost thereof. Has anyone explored the record of the group acquiring Moss and Rimmers, to see how the other companies under its control have performed, and, in particular, how the customers using the acquired companies have fared ? ian Cornish I have used Pitch Book to research who else is in the Radial portfolio. https://pitchbook.com/profiles/investor/431692-84#faqs It looks like a many armed/layered company. What that means ultimately is not something I know about. There is Radial Equity 1 the fund and Radial Equity Partners the investor. Both at the same address. Their financial association is with New value capital and Irving place capital. Bear Sterns also is a name that pops up. Radial are owners of American Chrome the go to shop for chrome bits to hang on your trans US rig ( that statement could be misinterpreted) That fits with the automotive angle. https://pitchbook.com/profiles/company/263280-79#faqs Plus what looks like a Unipart type company called MultiParts. American Chrome are described as a subsidiary Coker Tire are in there. They are/were the place for red stripes on your TR250 tires (tyres) but these seem to be expensive since the pandemic. https://pitchbook.com/profiles/company/121261-24#faqs 185/80/15 red stripe. https://www.cokertire.com/tires.html?size_section_width_radial=2398&shop_aspect_ratio_radial=1939&tire_rim_diameter=1714&sidewall_style=2461&tire_build=1627 I note that K&N were once financed by New Value Capital. In 2016. https://pitchbook.com/profiles/investor/135952-39#exits This research does not constitute any statement of fact as it was copied from an internet source as noted at the beginning. E&OE Edited April 14 by BlueTR3A-5EKT Quote Link to post Share on other sites
RobH Posted April 14 Report Share Posted April 14 The fact is they are an investment company, and the only thing which will really matter to them is how much return they can get and how quickly. The companies they invest in are not an end in themselves, they are a merely a means to an end which can be disposed of when no longer productive. Moss and Rimmer now have a whole new layer of people who will have to be remunerated. Given that the size of the classic-car-parts market is pretty much fixed, surely that can only be done by increasing prices, reducing costs, or disposal of assets. Quote Link to post Share on other sites
BlueTR3A-5EKT Posted April 15 Author Report Share Posted April 15 I’ll be watching EBay closely for the Moss and Rimmers inventory sell down sale. Some creamy now irreplaceable slow moving stock could hit the sales floor at knock down prices, Unless the bean counters conclude dumping the stock in the bin is a cheaper option……would not be the first time that happened. Unipart used to do it regularly and some lovely Triumph parts went for sale at scrap prices. It was the quick action by the TR specialist that saved the stuff that could not feasibly be remade. Think TR6 crankshafts and blocks here. Quote Link to post Share on other sites
Phil Read Posted April 15 Report Share Posted April 15 Morrisons supermarket is a typical example of US private equity companies. They borrow money to fund the buy out and then sell assets and load their debt onto the company they have bought, Last year, Morrisons finance costs were £735m – up from £593m the year before. About £400m of that reflected annual interest payments on the grocer's borrowings, which stood at £5.4bn. Quote Link to post Share on other sites
stuart Posted April 15 Report Share Posted April 15 Apparently at the meeting at Moss when this was announced the bit about Rimmers being included in the deal came at the end of the takeover announcement after all the usual stuff about keeping the company profile high etc all the usual takeover waffle and there was an audible intake of breath in the room. Stuart. Quote Link to post Share on other sites
DRD Posted April 15 Report Share Posted April 15 18 minutes ago, stuart said: Apparently at the meeting at Moss when this was announced the bit about Rimmers being included in the deal came at the end of the takeover announcement after all the usual stuff about keeping the company profile high etc all the usual takeover waffle and there was an audible intake of breath in the room. Stuart. Is it a takeover? I got the impression they've invested in the businesses. Probably got controlling interests but will run them as separate businesses. Quote Link to post Share on other sites
BaulyCars Posted April 15 Report Share Posted April 15 Gotta be a positive in there somewhere given the investment, can't all be doom and gloom. Quote Link to post Share on other sites
james christie Posted April 15 Report Share Posted April 15 Dream on!! james Quote Link to post Share on other sites
barkerwilliams Posted April 15 Report Share Posted April 15 There is a difference between running a business selling parts and making a profit and running a business buying and sell businesses to make a profit. Alan Quote Link to post Share on other sites
BlueTR3A-5EKT Posted April 15 Author Report Share Posted April 15 2 hours ago, Phil Read said: Morrisons supermarket is a typical example of US private equity companies. They borrow money to fund the buy out and then sell assets and load their debt onto the company they have bought, Last year, Morrisons finance costs were £735m – up from £593m the year before. About £400m of that reflected annual interest payments on the grocer's borrowings, which stood at £5.4bn. Let us not forget Thames Water. Quote Link to post Share on other sites
SuzanneH Posted April 15 Report Share Posted April 15 12 minutes ago, BlueTR3A-5EKT said: Let us not forget Thames Water. Indeed. Quote Link to post Share on other sites
mike ellis Posted 11 hours ago Report Share Posted 11 hours ago Never thought I would see Rimmers advertising in the Guardian but here it is. I wonder whether this is a result of the new ownership. Interesting that Rimmers website makes no mention of the new structure while Moss have a somewhat disingenuous statement about joining with Rimmers. Mike E95BC9BB-F40B-4AD0-88D8-7F3BC368321B.heic Quote Link to post Share on other sites
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