McLaren agrees sale of technology division to increase investment push
McLaren agrees sale of technology division to increase investment push
McLaren Group has announced the sale of its Applied technology division to Greybull Capital as part of an increased investment push.
The Applied branch of the business will continue to be overseen by the current management team at McLaren with the aim to expand under Greybull's investment.
The move represents a shift in focus at the McLaren Group towards its Automotive and Racing sectors, with the racing team, in particular, due to expand from F1 and IndyCar to Extreme E in the near future.
McLaren Group executive chairman Paul Walsh said: "The completion of the strategic review of Applied is the latest in a series of proactive steps to build a more focused and profitable Group.
"McLaren now has the right strategy and focus to achieve our ambitions as a global luxury supercar and elite motorsport business, underpinned by a more sustainable capital structure.
"At the same time, we are delighted that Greybull's investment will provide a strong platform for McLaren Applied to innovate and grow as a world-class technology, data insight and analytics business."
McLaren Applied CEO Anthony Murray added: "We remain focused and committed to our existing customer and market segments of motorsport, automotive and public transport and this additional investment will ensure we can provide long-term stability and additional finance to develop market-leading innovations for our customers."
The move comes after a significant investment at the end of 2020 when an initial 15 per cent stake in McLaren Racing was sold to a consortium led by MSP Sports Capital which saw the F1 team valued at £560m.
The Automotive sector was also subject to significant investment earlier this year, thanks to the input of Ares Management and Saudi Arabian state fund PIF.
In addition, in April, the McLaren Group also agreed a £170million sale of its Technology Centre with US-based real estate investment trust Global Net Lease.
Related
Change your timezone:
Latest News
Cocky sporting legend CHALLENGES Hamilton in stunning claim
- 4 minutes ago
Ricciardo boss in 'super disappointing' claim amid RB stars' performance
- 1 hour ago
F1 team 'set to announce MEGA signing' in major Red Bull challenge
- 2 hours ago
Horner in BRUTAL Wolff swipe amid Verstappen to Mercedes links
- 3 hours ago
Hamilton car camera captures Verstappen's TRUE feelings toward F1 rival
- Today 18:57
F1 star hits back at Sky pundit with 'boring old man' jibe
- Today 17:57
Related news
Young F1 star set to make McLaren debut in injury replacement
F1 star reveals how Verstappen and Hamilton rivalry influenced key decision
Norris reveals CRUCIAL save that kept him at McLaren
F1 star hints future Ferrari move after Hamilton influence
F1 Standings
Drivers
- Oliver Bearman
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Daniel Ricciardo
- Yuki Tsunoda
Races
- Gulf Air Grand Prix of Bahrain 2024
- Saudi Arabian Grand Prix 2024
- Grand Prix of Australia 2024
- MSC Cruises Grand Prix of Japan 2024
- Grand Prix of China 2024
- Miami Grand Prix 2024
- Gran Premio dell'Emilia Romagna 2024
- Grand Prix of Monaco 2024
- Grand Prix du Canada 2024
- Gran Premio de España 2024
- Grand Prix of Austria 2024
- Grand Prix of Great Britain 2024
- Grand Prix of Hungary 2024
- Grand Prix of Belgium 2024
- Heineken Dutch Grand Prix 2024
- Grand Prix of Italy 2024
- Grand Prix of Azerbaijan 2024
- Grand Prix of Singapore 2024
- Grand Prix of the United States 2024
- Gran Premio de la Ciudad de Mexico 2024
- Grande Prêmio de São Paulo 2024
- Heineken Silver Las Vegas Grand Prix 2024
- Qatar Grand Prix 2024
- Grand Prix of Abu Dhabi 2024
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media
Innovatieweg 20C7007 CD, Doetinchem, Netherlands
+31645516860