Formula 1 News: Aston Martin takes on new American owners
Aston Martin is selling a portion of their F1 team to the multi-billion dollar American private investment firm Arctos Partners, which will value the team at $1 billion.
The agreement, announced on the eve of the Las Vegas Grand Prix, confirms the increasing appeal of the Aston Martin Aramco Cognizant Formula One Team during an unprecedented period of growth and popularity of Formula One especially in the United States. It will give Arctos ownership of a minority shareholding in AMR Holdings GP Limited (“AMR”), the team’s holding company. The investment in Aston Martin Aramco Cognizant Formula One Team is expected to close by year end. Arctos is the first and only professional investment platform approved to invest in multiple franchises across MLB, NBA, MLS, NHL, and European football, among other sports.
Arctos brings strategic strength, deep sports connections and key learnings at a time when the Silverstone-based team is undergoing rapid progress in Formula One. The months ahead will see the team complete its state-of-the-art AMR Technology Campus with the opening of a new wind tunnel and additional engineering facilities – key milestones as the team takes positive strides to establish its position at the front of the grid.
Lawrence Stroll, Executive Chairman of Aston Martin Aramco Cognizant Formula One Team, said:
“I am delighted to welcome Arctos Partners as a new partner and minority shareholder in the Aston Martin Aramco Cognizant Formula One Team. As investors in several leading sports franchises, Arctos brings deep industry knowledge, and I am thrilled that Aston Martin will be joining such a prestigious portfolio. The team has enjoyed tremendous success this season with eight podium finishes and our biggest points haul as a team, but our collective ambition is greater.
“Arctos see the potential and value of this project as we continue to build a world-class Formula One team. They share our vision for our ultra-luxury brand, and they are extremely passionate about the sport and its prospects. We are investing in infrastructure, people and processes, and this is the perfect time to add strength in depth with the operational expertise and strategic experience of Arctos. Together, we will continue to drive this team forward and build an even brighter and successful future.”
Doc O’Connor, Managing Partner, Arctos Partners, said:
“We look forward to collaborating with Aston Martin Aramco Cognizant Formula One Team and view the opportunity as the beginning of a long-term partnership with Lawrence and the entire organization. This investment is consistent with our firm’s strategy, which focuses on backing leading sports brands across North America and Europe. We will provide extensive resources to enhance Aston Martin Aramco Cognizant Formula One Team’s reach and brand, including industry intelligence sourced from our proprietary quantitative research and data science platform. Aston Martin Aramco Cognizant Formula One Team is a leading name in Formula One, one of the fastest growing sports in the US, and we are truly excited to be entering the sport alongside Lawrence and his team.”
The Raine Group served as exclusive financial advisor to Aston Martin Aramco Cognizant Formula One Team.