Paul Jeffrey
Premium
Former multiple World Championship winning Formula One outfit Williams have agreed a majority stake sale in their offshoot business, Williams Advanced Engineering.
Williams Advanced Engineering has long been a part of the Williams group of companies, developed to specialise in 'world class technical innovation, engineering, testing and manufacturing services to deliver energy efficient performance to customers', however the British outfit confirmed on the build-up to Christmas that a majority stake in the business has been sold to EMK Capital LLP, an independent private equity firm.
The deal has been agreed between the two parties, with the transaction expected to conclude within the next few weeks.
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Williams Advanced Engineering has long been a part of the Williams group of companies, developed to specialise in 'world class technical innovation, engineering, testing and manufacturing services to deliver energy efficient performance to customers', however the British outfit confirmed on the build-up to Christmas that a majority stake in the business has been sold to EMK Capital LLP, an independent private equity firm.
“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.” said Craig Wilson, Managing Director of Williams Advanced Engineering said of the announcement on December 24th.
Although the team are set to relinquish a 'majority stake' in the business, and thus release much needed funds into other areas of Williams Grand Prix Holdings, the outfit will still retain what they call a 'significant minority interest' in Williams Advanced Engineering, presumably in a bid to help steer the direction and technology output of what has proven to be an organisation with a strong reputation within the automotive and racing sectors.The deal has been agreed between the two parties, with the transaction expected to conclude within the next few weeks.
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