Podium Position for Succession’s Blair

March 2009

On 5th March, after much media speculation, Honda announced the sale of its Formula One (F1) team to Brawn GP, supported by the incumbent management team. This followed the announcement in December 2008 of Honda’s withdrawal from F1 and a process to find a suitable buyer.

Team Principal Ross Brawn and management turned to Gordon Blair, founder of Succession Corporate Finance, Livingstone’s sister M&A advisory firm, to advise them on how best to mount a successful bid for the Honda team.

Formerly Technical Director at Ferrari, Brawn has seen drivers under his direction - including Michael Schumacher - win no less than seven F1 drivers’ championships and seven constructors’ titles. Brawn’s new drivers – Jenson Button and Rubens Barrichello clinched 1st and 2nd podium positions at the first Grand Prix of the 2009 season in Melbourne on Sunday.

Brawn commented “The past few months have been extremely challenging for the team but the announcement of the deal is a very pleasing conclusion to the strenuous efforts which have been made to secure its future. We received valuable advice from Succession Corporate Finance in concluding the deal.”

Nick Fry, CEO of Brawn GP and a previous Livingstone Partners client, added “Our early testing results are extremely positive. We have much to do, but we are excited about the future and we are delighted that Gordon Blair at Succession is assisting us in this regard."

Blair also played an important role to play in negotiating a major new sponsorship agreement – announced on Saturday - between Brawn GP and Sir Richard Branson’s Virgin Group. Commented Branson, “I appreciated the efforts of Gordon Blair at Succession Corporate Finance. He played a key role in negotiating and finalising the deal. In fact I do not think we would have progressed as far as we did and as quickly as we did without him.”


For further information contact:
Patrick Groarke
Tel: 020 7484 4707
Email: pgroarke@livingstonepartners.co.uk

Gordon Blair, Succession Corporate Finance
Tel: 020 7100 3344
Email: Gordon.blair@successcf.com

If you would like to receive more details about any of the events underlying any of the news items or press releases above, please email Ann Wilson.

L to R: Ross Brawn, Jenson Button, Gordon Blair (Succession CF), Rubens Barrichello and Nick Fry
L to R: Ross Brawn, Jenson Button, Gordon Blair (Succession CF), Rubens Barrichello and Nick Fry
Brawn GP car in pitlane
Brawn GP car in pitlane