Currently reading: Aston Martin confirms £150m investment

New £150m investment deal with Investindustrial underpins new five-year product development programme

Aston Martin has confirmed a partnership deal with industrial solutions and investment company Investindustrial.

The completed deal, which was announced in December 2012, brings £150m worth of investment to Aston Martin.

Aston Martin will use the money to underpin a £500m five-year product development programme, which will be supported by Aston's partners The Investment Dar, Adeem Investment and Investindustrial.

The new backer, Investindustrial, is claimed to be one of Europe's leading investment groups, managing £2.6 billion worth of assets.

Investindustrial states that it "provides industrial expertise, operational focus and global platforms to accelerate value creation and international expansion."

With substantial support, Aston says it is now "well positioned to realise its ambitious growth strategy".

The manufacturer will remain based at Gaydon, where its headquarters and factory are currently based. The news follows the announcement that Aston's boss, Ulrich Bez, will step down to take a more ambassadorial role at the firm.

Aston Martin's new models include the Rapide S, a 550bhp four-door grand tourer.

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