GROVE, United Kingdom – One of Formula One’s most successful race teams officially has new owners.
Officials from Williams Racing announced on Friday that Dorilton Capital, a U.S.-based investment firm, has acquired the team. The transaction received the unanimous support of the Board of Williams, including Sir Frank Williams, who determined the transaction delivers the best outcome for the company’s shareholders and secures the long-term success of the Williams Formula One team.
Dorilton Capital is a private investment firm headquartered in the United States with a track-record of building and enhancing companies with a flexible and patient investment style.
The team will continue to race and compete under the Williams brand, with the chassis name remaining unchanged. Dorilton has no plans to re-locate the team from Grove, United Kingdom, its traditional home.
The sale follows Williams’ announcement to proceed with a strategic review in May after a dip in the company’s financial results. The Williams Racing team also parted ways with Rokit, which had served as the team’s main sponsor in Formula One.
“The strategic review was a useful process to go through and proved that both Formula One and Williams have credibility and value,” said Claire Williams, Deputy Team Principal. “We have now reached a conclusion and we are delighted that Dorilton are the new owners of the team. When we started this process, we wanted to find a partner who shared the same passion and values, who recognised the team’s potential and who could unlock its power. In Dorilton we know we have found exactly that. People who understand the sport and what it takes to be successful. People who respect the team’s legacy and will do everything to ensure it succeeds in the future. As a family we have always put our team first. Making the team successful again and protecting our people has been at the heart of this process from start.
“This may be the end of an era for Williams as a family owned team, but we know it is in good hands. The sale ensures the team’s survival but most importantly will provide a path to success. We are enormously grateful to Dorilton for the faith they have shown in our team and we look forward to working with them now. I would also like to thank the Williams Board and our advisers who have worked tirelessly over the past months to make this happen and our employees who have remained steadfastly loyal.”
“The transaction announced today marks the next stage in the history of Williams Formula One at an exciting time in the sport,” said Mike O’Driscoll, CEO of Williams. “The company has successfully completed its strategic review and we are pleased to announce the sale to Dorilton Capital, which delivers a great outcome for shareholders and secures the long term future of the company.”
Williams entered Formula One in 1977 and since then the team has captured Formula One driver championships on seven occasions and constructors’ championships on nine occasions.
Those to claim Formula One championships while driving for Williams include Alan Jones, Keke Rosberg, Nelson Piquet, Nigel Mansell, Alain Prost, Damon Hill and Jacques Villeneuve.
George Russell and Nicholas Latifi currently drive for the Williams team in Formula One competition.
“We are delighted to have invested in Williams and we are extremely excited by the prospects for the business,” said Matthew Savage, Chairman of Dorilton Capital. “We believe we are the ideal partner for the company due to our flexible and patient investment style, which will allow the team to focus on its objective of returning to the front of the grid. We look forward to working with the Williams team in carrying out a detailed review of the business to determine in which areas new investment should be directed. We also recognise the world class facilities at Grove and confirm that there are no plans to relocate.”