Williams Advanced Engineering's majority stake sold to EMK Capital
The company has sold the stake to secure a better future and have an accelerated growth.
Williams Grand Prix Holdings has initiated majority sale process of its Advanced Engineering division to funds controlled by EMK Capital LLP.
In an interesting move, Williams Grand Prix Holdings plc announced an agreement to sell its majority equity stake to funds controlled by an independent private equity firm, EMK Capital LLP. Williams will still retain a 'significant' minority stake, even with the new deal.
The idea behind the sale is to not only secure its future but also accelerate its long-term growth, where they are to commercialise various technology opportunities. The Williams AE has had a strong influence in the industry which it wishes to continue.
The firm has more than 300 people working currently with over 40 live projects in automotive, motorsport, aerospace, marine, defence and healthcare fields. Mike O’Driscoll, Group Chief Executive Officer of Williams said:
"We have rapidly grown WAE from an embryonic one client start-up, to a business with many clients in multiple sectors. The time is now right to sell a majority stake to enable WAE to further scale and develop its technologies.
"EMK Capital have a proven track record of success which will enable WAE to take advantage of these emerging opportunities and realise its full potential." At the same time, Craig Wilson, Managing Director of Williams Advanced Engineering, stated:
"Williams Advanced Engineering has developed a strong reputation for providing energy-efficient advanced performance solutions to a diverse range of sectors and blue-chip clients. This expertise and our technologies in areas such as electrification, lightweight structures, aerodynamics and precision manufacture will become even more relevant and in-demand globally going forward.
"This new ownership structure will enable WAE to take advantage of these emerging opportunities and comes at a pivotal moment allowing us to further invest in new areas of capability and technologies in order to realise the full potential of the business."
Finally, Edmund Lazarus, EMK added: "We are excited about partnering with WGPH and the WAE management team to support further growth in this exceptional engineering business which has achieved so much in such a short period of time."
The British racer gets another chance to be in F1.
[Image courtesy: Williams Advanced Engineering] [Note: This story was also written by me on FormulaRapida.net]