HOF Capital completes €1bn acquisition of Porsche stakes in Bugatti Rimac and Rimac Group

HOF Capital has successfully completed its acquisition of Porsche's shares in Bugatti Rimac and Rimac Group, valuing the combined stake at around €1 billion. The deal, which was announced in April, has now been finalized after obtaining necessary regulatory clearances. HOF, the lead investor, now owns a 23.5% share in Rimac Group, making it the largest shareholder.

The acquisition grants HOF representation on the supervisory boards of both companies, with HOF's co-founder and managing partner, Hisham Elhaddad, joining the boards of Rimac Group and Bugatti Rimac. Partner Josh Klaczek has also secured a seat on the Rimac Group board. This move marks HOF's shift from venture capital investments to larger, more complex transactions involving established businesses.

Elhaddad emphasized that this investment aligns with HOF's established strategy of pursuing partnerships in high-profile sectors like luxury automotive. Rimac, the founder and CEO of Rimac Group, expressed that this acquisition marks a significant milestone for both Bugatti Rimac and the Rimac Group, emphasizing that the new partnership will support their future growth and development.

The deal offers HOF and its consortium investors exposure to Bugatti, a globally recognized luxury automotive brand, and the Rimac Group, which specializes in high-performance automotive technology and electric vehicle engineering. For HOF, this transaction signifies a substantial move into direct ownership of established corporate assets, further solidifying its strategic role in the future growth of Rimac's businesses.