The famous Williams Racing team, partnered by Acronis, has secured its long-term future in the sport after being acquired by US private investment firm Dorilton Capital.
Williams held a strategic review in May with an aim of securing investment or a buyer in order to remain competitive in one of the toughest sporting arenas, and the news will come as great relief to employees and fans of the great team.
Dorilton Capital boasts a strong track-record of building and enhancing companies and although being based in New York, the firm recognises the importance retaining Williams’ heritage and culture and will not relocate.
Williams Racing is acquired by Dorilton Capital.
New era secures long-term future of the F1 team and paves the way for renewed competitiveness.
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— Williams Racing (@WilliamsRacing) August 21, 2020
“We are delighted to have invested in Williams and we are extremely excited by the prospects for the business,” commented Matthew Savage, Chairman of Dorilton Capital. “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.”
The acquisition by Dorilton Capital received the unanimous support of the Board of Williams, including founder and team principal Sir Frank Williams, and comes at the perfect time only days after all ten teams signed the new Concorde Agreement aimed at reducing the financial and on track disparities between teams.
“The Strategic Review was a useful process to go through and proved that both Formula One and Williams have credibility and value,” added Claire Williams, deputy team principal. “We have now reached a conclusion and we are delighted that Dorilton are the new owners of the team. When we started this process, we wanted to find a partner who shared the same passion and values, who recognised the team’s potential and who could unlock its power. In Dorilton we know we have found exactly that. People who understand the sport and what it takes to be successful. People who respect the team’s legacy and will do everything to ensure it succeeds in the future. As a family we have always put our team first.
“Making the team successful again and protecting our people has been at the heart of this process from start. This may be the end of an era for Williams as a family owned team, but we know it is in good hands. The sale ensures the team’s survival but most importantly will provide a path to success. We are enormously grateful to Dorilton for the faith they have shown in our team and we look forward to working with them now. I would also like to thank the Williams Board and our advisers who have worked tirelessly over the past months to make this happen and our employees who have remained steadfastly loyal.”