McLaren, which is owned by a group led by Bahrain s sovereign wealth fund Mumtalakat Holding Company, has secured hundreds of millions of pounds from existing backers over the last year, secured a loan from the Bahraini government, cut jobs, and is selling a minority stake in its racing division.
The main building at McLaren Technology Centre was designed by renowned architect Norman Foster and was short-listed for the Stirling Prize.
In 2011 the company added a second building, the McLaren Production Centre.
McLaren has counted many of F1 s biggest names on its team over the years, including Lewis Hamilton and Ayrton Senna – and its latest star is 21-year-old Lando Norris.
Potential buyer named for McLaren’s HQ
Date published:
March 9 2021
One of the world’s biggest buyout groups is reportedly in pole position to purchase McLaren’s HQ, which would then be leased back.
American private equity firm TPG is reported by Sky News to be in exclusive talks to buy the site in Woking, Surrey, which includes the McLaren Technology Centre, for £180m.
The transaction could be finalised as early as this month and will be structured as a sale-and-leaseback, enabling McLaren to continue occupying their home while raising money to strengthen a balance sheet hit hard by the health pandemic.
Report: PE firm in talks to buy McLaren Technology Centre
9 March, 2021
Private equity firm TPG are reportedly in exclusive talks over the purchase of the McLaren Technology Centre in Woking, Surrey.
According to the Daily Mail, the team are looking to sell the MTC on a sale-to-leaseback basis in order free up cash after suffering a £71.4 million loss in 2019. A sale-to-leaseback arrangement would allow McLaren to continuing working from the site.
The team’s impressive headquarters could fetch up to £180 million according to reports.
McLaren is owned by Bahrain’s sovereign wealth fund and secured a loan from the Bahraini government last year as its finances struggled due to the impact of the COVID-19 pandemic.
Private equity group TPG in solo race to buy Mclaren s £180m Surrey HQ thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.
McLaren unveils its 2021 Formula One Car, the MCL35M
McLaren has become the first Formula One team to unveil its 2021 car, whipping the covers of the McLaren MCL35M that will be piloted by the squad s new driver pairing of Daniel Ricciardo and Lando Norris this season. Visually, the MCL35M looks similar to its MCL35 predecessor, with teams having been forced to use modified versions of their 2020 chassis this year, ahead of the introduction of all new cars in 2022 - while the MCL35M also sports McLaren s now traditional papaya-and-blue colour scheme.
Daniel Ricciardo and Lando Norris at the launch of the new McLaren MCL35M