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Renault Group andAlpine welcome Otro Capital and their partner, RedBird Capital Partners, alongwith Maximum Effort Investments (together, the “Investor Group”) to AlpineRacing Ltd, the entity in charge of Formula 1 activities based in Enstone (UK).
·····F1, one of the most attractive and fastest growing international sports,with a historical F1 champion.
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Boulogne-Billancourt, New York & Los Angeles – June 26, 2023 – Renault Group and Alpine announced a €200 million investment from OtroCapital and their partner, RedBird Capital Partners, along with Maximum EffortInvestments (together the “Investor Group”) in Alpine Racing Ltd; (representinga 24% equity stake). Alpine Racing Ltd, the world class F1 team that finishedtop 4 in the 2022 F1 World Championship, is the entity representing Alpine’s F1team and activities, based in Enstone (UK).
Thetransaction values Alpine Racing Ltd around $900 million following thisinvestment. It will accelerate Alpine’s growth plans and sporting ambitions inF1.
AlpineF1 team will benefit from the Investor Group’s collective expertise and trackrecord in the sports industry including media, sponsorship, ticketing,hospitality, commercial rights management, licensing, and merchandising strategiesto unlock incremental value creation and new growth levers. The Investor Grouphas a strong track record of company-building with recognized partners such asthe Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC. AlpineF1 team will also benefit from the Investor Group's expertise in data andtechnology, key enablers of marketing and commercial performance.
AlecScheiner, Co-Founder and Partner of Otro Capital, will join Alpine Racing Ltd’sBoard of Directors.
AlpineRacing SAS, the entity manufacturing F1 engines in Viry-Châtillon, France, is notpart of the transaction and will remain entirely owned by Renault Group.
Luca de Meo, CEO of Renault Group:“
Laurent Rossi, CEO ofAlpine: “This association is an important step toenhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments,as international players with strong track record in the sports industry,will bring their recognizedexpertise to boost our media and marketing strategy, essential to support our sportingperformance over the long term. Second, the incrementalrevenue generated will in turn be reinvested in the team, inorder to further accelerate our Mountain Climber plan, aimed at catching upwith top teams in terms of state-of-the-artfacilities and equipment.”
Alec Scheiner, Co-Founder and Partner of Otro Capital: “We are thrilled to have theopportunity to invest in Alpine F1. We believe in the management of thecompany, the value of the brand as well as the long-term trajectory of thesport. We believe that, along with our partners RedBird and Maximum EffortInvestments, we can add value to Alpine's business operations and brandbuilding, especially in North America.”
James Toney, Co-Founder of MaximumEffort Investments: “Maximum Effort Investmentsfocuses on unlocking value through the power of storytelling, and we believethere is tremendous untapped potential in Alpine Racing. We are eager to helpshine a light on this incredible team. We’re thankful to our partners at OtroCapital and RedBird Capital Partners and look forward to diving in with them,as well as our co-investors Michael B. Jordan and Rob McElhenney."
Otroand RedBird’s investment also includes participation from the Huntsman Familyand Main Street Advisors.
RenaultGroup will detail Alpine’s strategy on June 26th, 2023during its Alpine Future Tour. This event will be hosted by Luca de Meo,CEO of Renault Group, and Laurent Rossi, CEO of Alpine, in Enstone (UK).
Theconference will take place from 1.00 pm (London time) / 2.00 pm (Paris time)and can be accessed remotely via the following link:
AboutBWT Alpine F1 Team
BWTAlpine F1 Team competes in the FIA Formula One World Championship with racewinners Esteban Ocon and Pierre Gasly. Led by Team Principal Otmar Szafnauer,the team finished fourth in the 2022 Constructors’ Championship as it continuesits quest to reach the pinnacle of Formula 1. Under the guidance of CEO LaurentRossi, Alpine is the French-style sports car brand founded in 1955 by JeanRédélé. The Alpine Business Unit was created in 2021 and became the branddedicated to innovative, authentic, and exclusive sportscars of the RenaultGroup, benefiting from the heritage and craftsmanship of its historic plant inDieppe as well as the engineering mastery from BWT Alpine F1 Team, AlpineRacing and Alpine Cars.
Formore information, please go to www.alpinecars.com
AboutRenault Group
RenaultGroup is at the forefront of a mobility that is reinventing itself.Strengthened by its alliance with Nissan and Mitsubishi Motors, and its uniqueexpertise in electrification, Renault Group comprises 4 complementary brands -Renault, Dacia, Alpine and Mobilize - offering sustainable and innovativemobility solutions to its customers. Established in more than 130 countries,the Group has sold 2.1 million vehicles in 2022. It employs nearly 106,000people who embody its Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition, Renault Groupis committed to an ambitious transformation that will generate value. This iscentred on the development of new technologies and services, and a new range ofeven more competitive, balanced, and electrified vehicles. In line withenvironmental challenges, the Group’s ambition is to achieve carbon neutralityin Europe by 2040.
Formore information, please go to www.renaultgroup.com
About Otro Capital
OtroCapital is an operator-founded private investment firm focused on sports,media, gaming, and entertainment, targeting under-monetized and oftenunder-valued assets, and works in partnership with RedBird Capital. The Otroteam, led by Alec Scheiner, Brent Stehlik, Niraj Shah, and Isaac Halyard, hasoperated and invested in the sports ecosystem for the last twenty-five years.Otro's targeted investments share three common factors i) differentiated accessvia a network of sports operators and owners, ii) valuable intellectualproperty, and iii) ability to add value via company building experience anddirect operational expertise.
Formore information, please go to www.otrocapital.com
About RedBird CapitalPartners
RedBirdCapital Partners is a private investment firm that builds high-growth companiesand provides strategic capital solutions to founders and entrepreneurs. Foundedin 2014 by Gerry Cardinale, RedBird integrates sophisticated private equityinvesting with a hands-on business building mandate that focuses on three coreindustry verticals - Media & Entertainment, Sports and ExperientialConsumer, and Financial Services. Throughout his 30-year investment career,Cardinale has partnered with founders and entrepreneurs to build some of themost iconic growth companies in their respective industries. The firm currentlymanages over $8.6 billion in assets on behalf of a global group of blue chipinstitutional and family office investors.
RedBird’sportfolio consists of blue-chip IP across leagues, teams, media, entertainmentand experiential consumer - including the YES Network, Fenway Sports Group, ACMilan, Skydance Media, The Springhill Company and its newly-created streamingplatform with the NFL, Everpass Media.
Formore information, please go to www.redbirdcap.com
AboutMaximum Effort Investments
Maximum Effort Investments is an investment fundfocused on creating transformational value through story-telling. Thestory-first approach applies across four key investment sectors: real estate,sports, media, and consumer goods. The MEI leadership team uses its diverse setof backgrounds to find asymmetric ways to realize gains. Led by Ryan Reynolds,real-estate development and private equity firm Watford Group’s Harshal Dave,and Maximum Effort’s George Dewey and James Toney.
Investor Relations and Presscontacts:
Alpine
David Gendry
David.gendry@alpinecars.com
Mario Almeida
Mario.almeida@uk.alpineracing.com
Renault Group
FrédéricTexier
Frederic.texier@renault.com
Philippinede Schonen
Philippine.de-schonen@renault.com
Otro Capital
Ben Sosenko
Ben@silvertribemedia.com
RedBird Capital Partners
Dan Gagnier
RedBird@gagnierfc.com
Maximum Efforts Investments
Molly Alves
Mollya@maximumeffort.com
