McLaren Group announced Thursday the sale of its Applied division, which develops high-tech “green” products in the field of vehicle monitoring and electrification systems. UK-based investment firm Greybull Capital became the new owner of the division. The transaction, the amount of which is not disclosed, will not affect the operating activities of McLaren Applied.

The sale of McLaren Applied – another step in the program of restructuring the company’s assets, the lion’s share of income which generates the lion’s share of the income of the car division McLaren Automotive. McLaren faced severe cash shortages last year amid a pandemic, but thanks to investments from Gulf investors and a sale-leaseback deal for the Technology Center, it was able to stay afloat.

“The sale of the Applied division is another step in making McLaren Group a more profitable and narrowly focused company,” McLaren Group chief executive Paul Walsh was quoted as saying by the press office. – McLaren is now fully committed to a strategy to achieve our ambitions of becoming a global premium supercar manufacturer and an elite motorsports business backed by a strong financial structure.

As for McLaren Applied, we are delighted that the investment from Greybull will enable the company to continue to innovate and move towards becoming a world-class technology and analytics business.