The business and assets of Project Bloodhound are being bought for an undisclosed amount by Ian Warhurst, managing director of Melett, a supplier of replacement turbocharger repair kits for the automotive industry.
Andrew Sheridan, joint administrator and partner at specialist advisory firm FRP Advisory described Warhurst as having ‘a strong background in managing highly successful businesses in the automotive engineering sector’.
“[Ian] will bring considerable expertise to bear in taking the project forward,” said Sheridan. “He will be outlining his plans for the project in detail early in the New Year.”
Following this announcement, the joint administrators were contacted by a number of other interested parties.
“We have been overwhelmed by the passion that clearly exists for Bloodhound and are thrilled that we have been able to secure a buyer who is able to give this inspiring project a future," said Sheridan. “We would particularly like to thank the Ministry of Defence and Rolls Royce for their support and collaboration throughout this process, without which it would not have been possible for the project to be in a position to continue."