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Top related persons:
McLaren - 2 de Wouw - 1 Lavoie - 1 Nick Fry - 1 Fry - 1 Jan Padberg - 1 Robin de Wit - 1 VanMoof - 1
Top related locs:
Amsterdam Netherlands AMSTERDAM Silicon Mumtalakat Bengaluru
Top related orgs:
McLaren - 2 Thomson - 2 REUTERS - 1 Formula - 1 VanMoof - 1 McLaren Group - 1 Capital - 1 Norwest Venture Partners - 1

Search resuls for: "McLaren Group"


3 mentions found


☆ McLaren Applied's Lavoie buys bankrupt Dutch e-bike maker VanMoof
  + stars: | 2023-08-31 | by ( Nick Carey Tosterling | Nick Carey | ) www.reuters.com   time to read: +3 min
The logo of e-bike maker VanMoof is seen on a bicycle in Amsterdam, Netherlands August 17, 2023. REUTERS/Piroschka van de Wouw Acquire Licensing RightsLONDON/AMSTERDAM, Aug 31 (Reuters) - Lavoie, the electric scooter unit of Formula One engineering and technology firm McLaren Applied, said on Thursday it has agreed to buy bankrupt premium Dutch e-bike maker VanMoof and will invest to stabilize and expand its business. Fry said McLaren Applied - bought from McLaren Group by private equity firm Greybull Capital in 2021 - would retain VanMoof's departmental managers and would "engage and retain or rehire some of the great people" the Dutch e-bike maker employed. VanMoof had also struggled with quality problems, which McLaren Applied's Fry said had hurt sales. McLaren Applied recently launched the premium Lavoie e-scooter brand.
Persons: de Wouw, Lavoie, Nick Fry, Fry, Jan Padberg, Robin de Wit, McLaren, VanMoof, McLaren Applied's Fry, Nick Carey, David Holmes Organizations: REUTERS, Formula, McLaren, Reuters, VanMoof, McLaren Group, Capital, Norwest Venture Partners, Nasdaq, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, Silicon
☆ Saudi sovereign wealth fund PIF sells McLaren stake to Bahrain -Sky News
  + stars: | 2023-06-21 | by ( ) www.reuters.com   time to read: +1 min
June 21 (Reuters) - Bahrain's state investment fund Mumtalakat is buying preference shares and warrants worth 400 million pounds ($510.48 million) in carmaker McLaren from Saudi Arabia's Public Investment Fund (PIF) and Ares Management (ARES.N), Sky News reported on Wednesday. The transaction will not lead to any new money being injected into McLaren, the Sky News report said, adding that an announcement from Mumtalakat on the deal will come on Thursday. The purchase will expand Mumtalakat's majority stake in McLaren group, which includes the British supercar maker as well as McLaren Racing. In July 2021, global investment firm Ares Management and Saudi's PIF provided much of a 550 million-pound equity investment in the McLaren group. Ares Management declined to comment, while McLaren and the PIF did not immediately respond.
Persons: carmaker McLaren, PIF, Ares Management, McLaren, Khalid Al Rumaihi, Bharat Govind Gautam, Chris Reese, Matthew Lewis Organizations: Saudi Arabia's Public Investment Fund, Ares Management, Sky News, McLaren, British, McLaren Racing, Reuters, Thomson Locations: Mumtalakat, Bengaluru
☆ McLaren a money-making machine? We are profitable, says Brown
  + stars: | 2023-02-13 | by ( Alan Baldwin | ) www.reuters.com   time to read: +3 min
"I don't know about money-making machine but we are now a profitable Formula One team," he said. "(We are) very fortunate that we brought in new shareholders that enabled us to do things like the wind tunnel and the simulator. Brown became chief executive of McLaren Racing in 2018 as part of a major restructuring of the second most successful team in the sport in terms of wins. McLaren Racing are part of the McLaren Group, which includes the supercar manufacturer and is majority-owned by Bahrain's sovereign wealth fund Mumtalakat. The papaya orange and blue car has been designated the MCL60, a break from previous naming convention, to mark the anniversary of the founding of McLaren Racing by New Zealander Bruce McLaren in 1963.
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