Williams F1 team to sell majority stake in sister company WAE

Williams has agreed to sell a majority equity stake into sister company Williams Advanced Engineering

Williams F1 team to sell majority stake in sister company WAE

Founded in 2011, WAE is the engineering services business of the Williams Group that owns the Formula 1 team. It employs over 300 people working in 40 different technology projects.

The stake will be sold to an independent private equity firm controlled by EMK Capital.

Williams said it will retain a minority interest in the WAE business.

WAE was the sole battery supplier for Formula E from its first season in 2014 until season four in 2018.

"We have rapidly grown WAE from an embryonic one client start-up, to a business with many clients in multiple sectors," said Williams CEO Mike O'Driscoll.

"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."

Craig Wilson, WAE's managing director added: "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."

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