Cosworth, one of the most influential British motoring companies, has gone up for sale. The company is best known for its co-operation with various motor racing teams and it is a well-known fact that its owners have been testing the market for a while. Now, they’ve officially instructed the UBS to find a buyer for their business which has been one of the most important names in the world of motor sports.
Kevin Kalkhoven and Gerry Forsythe, owners of Cosworth, have officially declared the company for sale. Former IndyCar racing magnates, Kalkhoven and Forsythe started a joint venture and purchased this company from Ford almost 8 years ago. Speculations over the possible buyer have hit the media and the most likely buyer seems to be Rolls Royce.
It won’t be a surprise, because Cosworth were involved in the aerospace industry for the past several years and Rolls Royce was one of their main clients. Another possible buyer is GKN, a company which operates in the aerospace and automotive industries.
Tim Routsis, chief executive at Cosworth spoke for The Times: “The company’s sale has been on hold for a year and a half and the board has finally decided that it is time to get things moving, because we may lose momentum.”
The Cosworth company will certainly attract a lot of interest considering the awards which it has won: Cosworth’s engines have won a total of 176 Formula 1 grand prix. Competitors using Cosworth electronics have achieved 20 Indy 500 wins in a role. The only company to surpass Cosworth’s achievements in Formula 1 is Ferrari.
The company has had some troubles lately, especially in 2006, when they lost their biggest client, Formula One, due to the competition of bigger international automotive companies. Currently, the company is back in Formula One and they are supplying the teams of Marussia and HRT with engines.