McLaren Group Acquisition, Valuation, Funding & Investors

McLaren Group was acquired by Mumtalakat in March 2024.

McLaren Group acquisition price

Undisclosed

Acquired by Mumtalakat · Mar 2024

McLaren Group revenue

$835M

Strategic investment · May 2018

Cumulative funding McLaren Group raised

$510M

across 3 funding rounds

Key investors in McLaren Group

  • Ares Management
  • Saudi Arabia's Public Investment Fund
  • Mumtalakat
  • Nidala company

McLaren Group Overview

About McLaren Group

McLaren Group is a Woking-headquartered manufacturer of supercars, operator of motorsport teams, and provider of applied technologies from its base in Surrey, England. The Automotive division hand-builds models like the 720S and Artura at the McLaren Production Centre, exporting over 90 percent to markets in the United States and Asia. Racing competes in the Formula 1 World Championship and IndyCar series, while Applied develops composites at the Yorkshire Composites Technology Centre opened in 2021. Established in 1963, the group invests in research at the McLaren Technology Centre supporting NHS ventilator production during the COVID-19 pandemic.


Founded

2017

HQ

United KingdomWoking

Status

Acquired

Customer focus

B2C

Revenue model

Product sales, Subscription

Revenue

$835M (May 2018)

Valuation

$2.7B (May 2018)

McLaren Group Acquisition

McLaren Group was acquired by Mumtalakat for an undisclosed price on 25 March 2024.

Before the acquisition McLaren Group had raised $510M across 3 funding rounds.

McLaren Group, headquartered in Woking, Surrey, is the parent company of McLaren Automotive, a producer of high-performance luxury sports cars rivaling Ferrari and Porsche, and holds a significant stake in McLaren Racing, which competes in Formula 1, IndyCar, and plans to enter the World Endurance Championship in 2027. Bahrain Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, previously the largest shareholder, acquired complete ownership of McLaren Group in March 2024 amid the company's recent financial challenges, marking a shift to full control to stabilize operations and support long-term plans including investments in new products and technologies like electric vehicles. McLaren executive chairman Paul Walsh described the move as enabling focus on business strategy and potential technical partnerships. The acquisition positioned Mumtalakat to strengthen commitment to McLaren's future, with the company expressing optimism about this milestone for innovation and competitiveness in the automotive industry. This full takeover followed prior investments and addressed financial difficulties, allowing exploration of collaborations in electric vehicle technology to adapt to market trends. No specific deal terms or valuation were disclosed for the 2024 transaction. Subsequent developments saw Mumtalakat retain a controlling stake in McLaren Racing while partnering with CYVN Holdings for further investments, but the core 2024 deal solidified Bahrain's sole ownership of the McLaren Group at that time.

McLaren Group acquisition details
AcquirerDateType
  • Mumtalakat
25 Mar 2024Strategic M&A

McLaren Group Valuation

McLaren Group is currently valued at $2.7B, based on its strategic investment round in May 2018.

The $271M round was led by Nidala company.

McLaren Group valuation by funding round

McLaren Group valuation by funding round
DateStageValuationRevenue Multiple
May 2018Strategic investment$2.7B3.2x

McLaren Group Revenue

McLaren Group's latest recorded revenue is $835M, as of its strategic investment round in May 2018. At a $2.7B valuation, that implies a 3.2x revenue multiple.

McLaren Group revenue by funding round

McLaren Group revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
May 2018$835M$2.7B3.2xStrategic investment

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

McLaren Group Funding History

McLaren Group has raised a total of $510M across 3 funding rounds.

McLaren Group's first fundraising round was a $271M strategic investment round in May 2018. The most recent completed round was a $86M strategic investment round in March 2023.

McLaren Group funding rounds

McLaren Group funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2023Strategic investment-$86M-McLaren Group, a British manufacturer of luxury supercars, racing teams, and applied technologies, underwent a recapitalization process around early 2023 involving shareholder support. Existing shareholders provided £170m of funding in December 2022 from heritage car asset sales and March 2023 via new equity issuance of £70m in Q1 2023 to bolster liquidity, which stood at £95m by end Q1 2023. This was part of efforts to simplify capital structure, streamline governance, and fund long-term product investments amid challenges like supply constraints and model delays. Lazard advised on the recapitalization, anticipated to reconfirm shareholder commitment. Broader 2023 saw £450m additional shareholder funding via ordinary shares to support new car development, including Artura, 750S, and future Ultimate/Super Series models, with intangible capex at £204.2m. Group filings note operational pressures but positive long-term outlook, culminating in Bahrain Mumtalakat taking full ownership by March 2024 via share conversion.
Jul 2022Undisclosed stageMumtalakat; Saudi Arabia's Public Investment Fund; Ares Management$152M--
May 2018Strategic investmentNidala company (lead)$271M$2.7BMcLaren Group, a British holding company encompassing McLaren Racing (Formula 1 team), McLaren Automotive (road car manufacturer), and McLaren Applied Technologies, received a £203.8 million capital injection in May 2018 from Nidala (BVI) Limited, a company controlled by Canadian businessman Michael Latifi. The investment was structured in three tranches: £100 million received on May 14, 2018, £50 million by the end of 2018, and £49.3 million by February 2019. Latifi purchased 888,135 ordinary shares, acquiring approximately 10 percent of the McLaren Group. Based on the £203.8 million representing a 10 percent stake, the implied post-money valuation was approximately £2,038 million (£2.038 billion). This investment significantly strengthened McLaren's balance sheet and positioned the company for growth across its automotive, racing, and technology divisions. The funds were deployed to cover costs arising from McLaren's split with Honda as its Formula 1 engine supplier and to support the team's transition to Renault power units. Following the investment, McLaren's major shareholders were Mumtalakat Holding Company (Bahrain sovereign wealth fund) with 56.4 percent, TAG Group Limited with 14.32 percent, Nidala with 9.84 percent, and several smaller shareholders. This was McLaren's first new shareholder since Ron Dennis's departure in late 2016.

Who has invested in McLaren Group?

4 investors have backed McLaren Group across its funding rounds, including Ares Management, Saudi Arabia's Public Investment Fund, Mumtalakat and Nidala company.

Lead investors include Nidala company.


McLaren Group Investors

Investors in McLaren Group by funding rounds participated
InvestorHQRoundsRoleFirst check
MumtalakatBahrainManama1ParticipantJul 2022
Saudi Arabia's Public Investment FundSaudi ArabiaRiyadh1ParticipantJul 2022

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McLaren Group Competitors

McLaren Group competitors include listed companies like Shanghai Suochen and PDF Solutions, and private ones like Suning Sports, Lucid Software, Framer and InVision.

Public and private companies comparable to McLaren Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Suning SportsChinaNanjingPrivate--$2.6B-
Lucid SoftwareUnited StatesSalt Lake City, UTPrivate$200M-$3B15.0x
FramerNetherlandsAmsterdamPrivate$50M-$2B40.0x
InVisionUnited StatesNew York City, NYPrivate$100M-$1.9B19.0x
Shanghai SuochenChinaChinaPublicly listed$69M$12M$1.9B20.9x
PDF SolutionsUnited StatesUnited StatesPublicly listed$219M$10M$1.8B7.2x

McLaren Group Public Comps

McLaren Group is no longer listed, but its public comps include Harley-Davidson, Tofaş, Polaris, Mitsubishi Motors, Atlanta Braves Holdings, NFI Group, Manchester United, Blue Bird Corp., Shanghai Suochen and WeRide.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Harley-Davidson$4.5B$665M0.7x0.8x4.8x10.3x
Tofaş$6.8B$243M0.6x0.4x17.2x11.1x
Polaris$7.2B($115M)0.7x0.7x(43.0x)8.8x
Mitsubishi Motors$19B$883M0.2x0.2x4.7x4.0x
Atlanta Braves Holdings$732M$98M5.6x5.3x42.0x62.0x
NFI Group$3.6B$96M0.9x0.8x32.7x8.1x
Manchester United$895M$302M4.9x4.8x14.4x14.5x
Blue Bird Corp.$1.5B$186M1.3x1.1x10.3x7.9x

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Common questions about McLaren Group

When was McLaren Group founded?McLaren Group was founded in 2017.
Where is McLaren Group headquartered?McLaren Group is headquartered in Woking, United Kingdom.
Is McLaren Group publicly listed?No, McLaren Group was acquired by Mumtalakat in March 2024.
Who acquired McLaren Group?McLaren Group was acquired by Mumtalakat in March 2024.
What is McLaren Group's valuation?McLaren Group was last valued at $2.7B in its strategic investment round in May 2018.
How much funding has McLaren Group raised?McLaren Group has raised $510M across 3 funding rounds.
What was McLaren Group's last funding round?McLaren Group's last funding round was a $86M strategic investment round in March 2023.
Who are McLaren Group's investors?McLaren Group's investors include Mumtalakat, Saudi Arabia's Public Investment Fund, Ares Management and Nidala company.
What is McLaren Group's revenue?McLaren Group's latest recorded revenue is $835M (May 2018).
What is McLaren Group's revenue multiple?McLaren Group's latest valuation implies a 3.2x revenue multiple ($2.7B valuation on $835M of revenue).
Which companies are comparable to McLaren Group?Companies comparable to McLaren Group include Suning Sports, Lucid Software, Framer, InVision, Shanghai Suochen and PDF Solutions.

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