Lawrence Stroll and his consortium sell shares in the Aston Martin Formula 1 team: New investor group raises several hundred million dollars
Accel and HPS Investment Partners will be two new investors in the Aston Martin Formula 1 team, Sky News reports. The two investment firms will bring several hundred million dollars into the Lawrence Stroll-led team, after the team was estimated to be worth between 1.5 and two billion dollars.
HPS Investment Partners is a US-based investment company that specializes primarily in private debt and equity transactions. It manages around 115 billion dollars in assets. Accel is a venture capital firm like Williams owner Dorilton Capital, based in the famous Silicon Valley, California, and has backed companies such as Facebook at an early stage.
According to Sky, the deal is to be officially announced soon, with the new investors holding around 20 to 25 percent of the Formula 1 team. Following the insolvency of Force India in 2018, Lawrence Stroll took over the Silverstone-based racing team with a consortium for the equivalent of 117 million dollars.
Lawrence Stroll has already sold shares in 2023
Since then, the Canadian investor has poured a lot of money into taking the British team to the top of Formula 1. Among other things, he had a new factory and his own wind tunnel built and hired a series of top-class engineers from other teams. Most recently, he was able to recruit aerodynamics legend Adrian Newey for his project
At the end of 2023, it was announced that Stroll had sold shares in his Formula 1 team for the first time. According to the American media company Bloomberg, the investment firm Arctos is said to have bought shares at a valuation of the team of 1.2 billion dollars. Nevertheless, Stroll’s consortium is likely to remain the majority owner of the racing team.
Sky News also reports that Aston Martin was advised on the deal by the Raine Group, the merchant bank that advised on the sale of Chelsea FC and a stake in Manchester United to Sir Jim Ratcliffe.
It is no longer unusual in Formula 1 for team shares to be sold to large investment firms. In 2020, the private equity firm Dorilton Capital took over the Williams Formula 1 team, while McLaren also sold a smaller share of its racing team to the investment company MSP Sports Partners.
