RENAULT GROUP: Alpine Racing Ltd speeds up its development and
attracts EUR200m from World class investors
20230626_Alpine F1 Team_Press Release_EN
ALPINE RACING LTD SPEEDS UP ITS
DEVELOPMENT AND ATTRACTS €200M FROM WORLD CLASS
INVESTORS
Renault Group and Alpine welcome Otro
Capital, RedBird Capital Partners
and Maximum Effort Investments to
Alpine Racing Ltd, with a 24% equity
stake.
- Renault
Group and Alpine welcome Otro Capital and their
partner, RedBird
Capital Partners,
along with Maximum Effort
Investments (together, the “Investor Group”) to Alpine Racing Ltd,
the entity in charge of Formula 1 activities based in Enstone
(UK).
- The
Investor Group is investing €200 million,
representing a
24% equity
stake, to support
Alpine’s growth strategy and sporting ambitions in Formula
1.
- The
transaction values Alpine Racing Ltd
around $900
million following this
investment.
- The
Investor Group brings together a unique combination of expertise.
Otro Capital and RedBird Capital Partners, with the brand building
skills of Maximum Effort Investments (led by Ryan Reynolds) will
bring successful sports & media experience and operational
expertise in building high-growth companies.
-
Ryan Reynolds
co-investors also include Michael B. Jordan and Wrexham
AFC Co-Chairman Rob McElhenney.
- The
Investor Group is excited to enter F1, one of the
most attractive and fastest
growing international sports,
with a historical F1 champion.
- Alec
Scheiner, Co-Founder and Partner
of Otro Capital, will join the Alpine Racing
Ltd’s Board of
Directors.
Boulogne-Billancourt, New
York & Los Angeles – June
26,
2023 – Renault Group and Alpine
announced a €200 million investment from Otro Capital and their
partner, RedBird Capital Partners, along with Maximum Effort
Investments (together the “Investor Group”) in Alpine Racing Ltd;
(representing a 24% equity stake). Alpine Racing Ltd, the world
class F1 team that finished top 4 in the 2022 F1 World
Championship, is the entity representing Alpine’s F1 team and
activities, based in Enstone (UK).
The transaction values Alpine Racing Ltd around
$900 million following this investment. It will accelerate Alpine’s
growth plans and sporting ambitions in F1.
Alpine F1 team will benefit from the Investor
Group’s collective expertise and track record in the sports
industry including media, sponsorship, ticketing, hospitality,
commercial rights management, licensing, and merchandising
strategies to unlock incremental value creation and new growth
levers. The Investor Group has a strong track record of
company-building with recognized partners such as the Dallas
Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham
AFC. Alpine F1 team will also benefit from the Investor
Group's expertise in data and technology, key enablers of marketing
and commercial performance.
Alec Scheiner, Co-Founder and Partner of Otro
Capital, will join Alpine Racing Ltd’s Board of Directors.
Alpine Racing SAS, the entity manufacturing F1
engines in Viry-Châtillon, France, is not part of the transaction
and will remain entirely owned by Renault Group.
Luca de Meo, CEO of Renault Group: “Formula 1
and Alpine are strategic assets for Renault Group. Over the past
two years, we have re-ignited Alpine, capitalizing on its iconic
A110 sports coupé, boosting it by entering Formula 1, where it aims
to become a championship contender. This partnership will
accelerate Alpine F1 development by diversifying revenue drivers
and increasing brand value.”
Laurent Rossi, CEO of Alpine: “This association
is an important step to enhance our performance at all levels.
First, Otro Capital, RedBird Capital Partners and Maximum Effort
Investments, as international players with strong track record in
the sports industry, will bring their recognized expertise to boost
our media and marketing strategy, essential to support our sporting
performance over the long term. Second, the incremental revenue
generated will in turn be reinvested in the team, in order to
further accelerate our Mountain Climber plan, aimed at catching up
with top teams in terms of state-of-the-art facilities and
equipment.”
Alec Scheiner, Co-Founder and Partner of Otro
Capital: “We are thrilled to have the opportunity to invest in
Alpine F1. We believe in the management of the company, the value
of the brand as well as the long-term trajectory of the sport. We
believe that, along with our partners RedBird and Maximum Effort
Investments, we can add value to Alpine's business operations and
brand building, especially in North America.”
James Toney, Co-Founder of Maximum Effort
Investments: “Maximum Effort Investments focuses on unlocking value
through the power of storytelling, and we believe there is
tremendous untapped potential in Alpine Racing. We are eager to
help shine a light on this incredible team. We’re thankful to our
partners at Otro Capital and RedBird Capital Partners and look
forward to diving in with them, as well as our co-investors Michael
B. Jordan and Rob McElhenney."
Otro and RedBird’s investment also includes
participation from the Huntsman Family and Main Street
Advisors.
Renault Group will detail Alpine’s
strategy on
June 26th, 2023 during
its Alpine Future Tour. This
event will be hosted by Luca de Meo, CEO of Renault Group, and
Laurent Rossi, CEO of Alpine, in Enstone
(UK).
Access to conference, will be
available at 13:00 (UK time)
/ 14:00 (Paris time) on our
website:www.renaultgroup.com
About BWT Alpine F1
TeamBWT Alpine F1 Team competes in the FIA Formula One
World Championship with race winners Esteban Ocon and Pierre Gasly.
Led by Team Principal Otmar Szafnauer, the team finished fourth in
the 2022 Constructors’ Championship as it continues its quest to
reach the pinnacle of Formula 1. Under the guidance of CEO Laurent
Rossi, Alpine is the French-style sports car brand founded in 1955
by Jean Rédélé. The Alpine Business Unit was created in 2021 and
became the brand dedicated to innovative, authentic, and exclusive
sportscars of the Renault Group, benefiting from the heritage and
craftsmanship of its historic plant in Dieppe as well as the
engineering mastery from BWT Alpine F1 Team, Alpine Racing and
Alpine Cars.For more information, please go to
www.alpinecars.com
About Renault
GroupRenault Group is at the forefront of a mobility that
is reinventing itself. Strengthened by its alliance with Nissan and
Mitsubishi Motors, and its unique expertise in electrification,
Renault Group comprises 4 complementary brands - Renault, Dacia,
Alpine and Mobilize - offering sustainable and innovative mobility
solutions to its customers. Established in more than 130 countries,
the Group has sold 2.1 million vehicles in 2022. It employs nearly
106,000 people who embody its Purpose every day, so that mobility
brings people
closer. Ready to
pursue challenges both on the road and in competition, Renault
Group is committed to an ambitious transformation that will
generate value. This is centred on the development of new
technologies and services, and a new range of even more
competitive, balanced, and electrified vehicles. In line with
environmental challenges, the Group’s ambition is to achieve carbon
neutrality in Europe by 2040.For more information, please go to
www.renaultgroup.com
About Otro CapitalOtro Capital
is an operator-founded private investment firm focused on sports,
media, gaming, and entertainment, targeting under-monetized and
often under-valued assets, and works in partnership with RedBird
Capital. The Otro team, led by Alec Scheiner, Brent Stehlik, Niraj
Shah, and Isaac Halyard, has operated and invested in the sports
ecosystem for the last twenty-five years. Otro's targeted
investments share three common factors i) differentiated access via
a network of sports operators and owners, ii) valuable intellectual
property, and iii) ability to add value via company building
experience and direct operational expertise. For more information,
please go to www.otrocapital.com
About RedBird Capital
PartnersRedBird Capital Partners is a private investment
firm that builds high-growth companies and provides strategic
capital solutions to founders and entrepreneurs. Founded in 2014 by
Gerry Cardinale, RedBird integrates sophisticated private equity
investing with a hands-on business building mandate that focuses on
three core industry verticals - Media & Entertainment, Sports
and Experiential Consumer, and Financial Services. Throughout his
30-year investment career, Cardinale has partnered with founders
and entrepreneurs to build some of the most iconic growth companies
in their respective industries. The firm currently manages over
$8.6 billion in assets on behalf of a global group of blue chip
institutional and family office investors. RedBird’s portfolio
consists of blue-chip IP across leagues, teams, media,
entertainment and experiential consumer - including the YES
Network, Fenway Sports Group, AC Milan, Skydance Media, The
Springhill Company and its newly-created streaming platform with
the NFL, Everpass Media. For more information, please go to
www.redbirdcap.com
About Maximum Effort
InvestmentsMaximum Effort Investments is
an investment fund focused on creating transformational value
through story-telling. The story-first approach applies across four
key investment sectors: real estate, sports, media, and consumer
goods. The MEI leadership team uses its diverse set of backgrounds
to find asymmetric ways to realize gains. Led by Ryan Reynolds,
real-estate development and private equity firm Watford Group’s
Harshal Dave, and Maximum Effort’s George Dewey and James
Toney.
Investor Relations and Press
contacts:
AlpineDavid
GendryDavid.gendry@alpinecars.com
Mario AlmeidaMario.almeida@uk.alpineracing.com
Renault GroupFrédéric
TexierFrederic.texier@renault.com
Philippine de SchonenPhilippine.de-schonen@renault.com
Otro CapitalBen
SosenkoBen@silvertribemedia.com
RedBird Capital PartnersDan
GagnierRedBird@gagnierfc.com
Maximum Effort
InvestmentsMolly AlvesMollya@maximumeffort.com
- 20230626_Alpine F1 Team_Press Release_EN
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