McLaren has confirmed that it has completed a deal to sell its applied technology business to investment group Greybull.
This branch of the McLaren Group plays a central role in Formula 1 and supplies the ECU that is used in all units.
Despite the sale, McLaren confirmed that the division will retain its headquarters in the McLaren Technology Center, with the current management team in place.
In their statement, McLaren made it clear that the sale was part of their strategy of focusing solely on supercars manufacturing and elite motorsport, and raising additional funds as part of their financial restructuring.
The sale of a 15% stake in McLaren Racing has already raised € 185 million.
“The completion of the Applied strategic review is the latest in a series of proactive steps towards building a more focused and profitable group,” said Paul Walsh, executive chairman, McLaren Group.
“McLaren now has the right strategy and focus to achieve our ambitions as a global luxury supercar and elite motorsport company, backed by a more sustainable capital structure.
“At the same time, we’re excited that Greybull’s investment provides a strong platform for McLaren Applied to innovate and grow as a world-class technology, data insight and analytics company.”
Stand out from the crowd with McLaren merchandise through the Official Formula 1 Store
Anthony Murray, Chief Executive Officer of McLaren Applied, added, “We are excited to secure the investment that underpins our strategic intent to create a better future and leverage our electrification and telemetry, control and analysis capabilities.
“We remain focused and committed to our existing customer and market segments of motorsport, automotive and public transport, and this additional investment will ensure that we can provide long-term stability and additional funding to develop market-leading innovations for our customers.”
On the Formula 1 track, McLaren has gotten stronger and stronger as the search for investment continues.
The team from Woking is currently on par with Ferrari in the battle for P3 in the constructors’ championship with 163 points.
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