Us-based Dorilton Capital Buys Williams Racing
US-based private investment firm Dorilton Capital has acquired F1 team Williams Racing.
Williams says that it conducted a strategic review of all the options available to the company, which included exploratory discussions with a series of potential investors, and as a result has announced the sale to Dorilton Capital – a move which it says received unanimous support from the Williams Board.
“The transaction announced today marks the next stage in the history of Williams Formula 1 at an exciting time in the sport,” said Mike O’Driscoll, CEO, Williams.
“The company has successfully completed its strategic review and we are pleased to announce the sale to Dorilton Capital, which delivers a great outcome for shareholders and secures the long term future of the company.”
The news comes after the team – and all nine other F1 constructors – signed up to the series’ new Concorde Agreement, which will bring new rule changes to the sport.
Dorilton, meanwhile, says it has placed a emphasis on ‘respecting and retaining’ Williams’ heritage, committing to continue racing under the Williams brand and says it has no plans to relocate the team away from its base at Grove in Oxfordshire.
Matthew Savage, Chairman of Dorilton Capital, said: “We are delighted to have invested in Williams and we are extremely excited by the prospects for the business. We believe we are the ideal partner for the company due to our flexible and patient investment style, which will allow the team to focus on its objective of returning to the front of the grid.
“We look forward to working with the Williams team in carrying out a detailed review of the business to determine in which areas new investment should be directed. We also recognise the world class facilities at Grove and confirm that there are no plans to relocate.”
