Bahrain’s sovereign wealth fund, Mumtalakat, has acquired complete ownership of the prestigious British supercar brand, McLaren. While McLaren’s legacy remains deeply rooted in its British heritage and Formula 1 prowess, the firm now finds itself under the full ownership of Bahrain’s esteemed investment arm.
The completion of a capital reorganization for the McLaren Group marks a pivotal moment for the iconic brand, providing much-needed financial stability amid challenges exacerbated by the global pandemic. The McLaren Group encompasses two key entities: McLaren Automotive, renowned for its production of high-performance sports cars and supercars, and McLaren Racing, the motorsport division steered by CEO Zak Brown.
Mumtalakat’s journey with McLaren traces back to 2007 when it initially acquired a 15% stake in the brand’s ownership. Over the years, this stake steadily increased, reaching 50% in 2012. Following significant shifts in leadership and ownership, including the departure of Ron Dennis in 2017 and the passing of Mansour Ojjeh in 2021, Mumtalakat further augmented its ownership share, reaching 60% by late 2022.
McLaren’s recent financial challenges prompted strategic measures, including the sale of prized race cars from its collection and the divestment of its UK headquarters in Woking in 2021. These moves were compounded by delays in the launch of its highly anticipated hybrid supercar, the Artura. Presently, McLaren operates out of leased premises as part of a 20-year leaseback program.
With the completion of this ownership transition, McLaren Group Executive Chairman Paul Walsh expressed confidence in Mumtalakat’s support, emphasizing the sovereign wealth fund’s role in steering McLaren towards long-term success. Walsh highlighted Mumtalakat’s commitment to facilitating McLaren’s strategic business initiatives, including investments in new products and technologies, while exploring potential collaborations with industry partners.
