Williams sells majority stake in Williams Advanced Engineering

Williams Grand Prix Holdings has agreed to sell a majority in Williams Advanced Engineering to private equity firm EMK Capital.

Founded in 2011, WAE is the technology and engineering services business of the Williams Group.

The fast-growing entity now employs 300 people and applies its core competencies in a wide range of sectors that include the motorsport, automotive, aerospace, defense and healthcare industries.

• Is there an opening for Nick Chester at Williams?

WAE, in which Williams will retain a minority sector, was the battery supplier to Formula E during the all-electric series' first four seasons.

"We have rapidly grown WAE from an embryonic one client start-up, to a business with many clients in multiple sectors," said Mike O'Driscoll, Group Chief Executive Officer of Williams Grand Prix Holdings.

"The time is now right to sell a majority stake to enable WAE to further scale and develop its technologies. EMK Capital have a proven track record of success which will enable WAE to take advantage of these emerging opportunities and realise its full potential."

Craig Wilson, Managing Director of Williams Advanced Engineering said:

"Williams Advanced Engineering has developed a strong reputation for providing energy-efficient advanced performance solutions to a diverse range of sectors and blue-chip clients.

"This expertise and our technologies in areas such as electrification, lightweight structures, aerodynamics and precision manufacture will become even more relevant and in-demand globally going forward.

"This new ownership structure will enable WAE to take advantage of these emerging opportunities and comes at a pivotal moment allowing us to further invest in new areas of capability and technologies in order to realise the full potential of the business."

EMK Capital focuses on investments in the business services, consumer and industrial sectors, supporting a company's growth and change.

"We are excited about partnering with WGPH and the WAE management team to support further growth in this exceptional engineering business which has achieved so much in such a short period of time," said Edmund Lazarus, Managing Partner of EMK.

Gallery: The beautiful wives and girlfriends of F1 drivers

Keep up to date with all the F1 news via Facebook and Twitter