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McLaren raises more funds with sale of Applied tech unit
The McLaren Group continues its push to shore up its financials, having agreed to sell its Applied technology division to a private investment group. McLaren Applied which specializes in electrification, telemetry, analytics and control, and which supplies the standard ECU used in F1's power units, has been acquired by London-based Greybull Capital. The move is part of the automotive group's financial turnaround that recently included a sale and lease back of its state-of-the-art McLaren Technology Center in Woking, a sale of £185 million minority stake in McLaren Racing, and a 550 million capital restructuring undertaken last month with several investors and existing shareholders,...
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