F1 corporate hospitality firm in pole position for more growth after acquisition by US group
Bristol-based Grand Prix Events, a specialist in Formula 1 related corporate hospitality, luxury travel and experiences, has been sold to Exclusive GP in a deal that completed in time for this year’s F1 season.
Portishead-based Exclusive GP was itself acquired by US hospitality group QuintEvents last summer, putting Grand Prix Events at the heart of its drive into the lucrative F1 hospitality market.
QuintEvents offers hospitality experiences across a wide range of sporting events including tennis, golf and American football. The acquisitions of Exclusive GP and now Grand Prix Events have put it in pole position for expansion into F1 in the UK and beyond.
Wrington-based Grand Prix Events was set up by German-born Daniel Bois and his partner Elizabeth Bois in 2007.
As well as receiving an undisclosed cash sum, they have become shareholders in Exclusive GP. They plan to remain fully involved in the enlarged business for at least the next three years.
Daniel said: “Discussions with Exclusive GP have been extremely positive from the outset, demonstrating a shared vision and promising an exciting future for Grand Prix Events.
“Our customers and partners will benefit immensely from the opportunities that this deal creates. We are particularly happy to be joining QuintEvents, a fast-growing group with significant international reach across many sectors.”
Daniel and Elizabeth were advised by Jonathan Poole of Bristol and London law firm Temple Bright with support from Carol Tricks and London-based employment partner Danielle Spiers.
Robbie Orr of Brooking Ruse, the Bois’ accountants, was instrumental in negotiating the deal. Exclusive GP was advised by City law firm Dentons.
Jonathan said: “It was a good all-round team effort to get this deal across the finish line in February, in time for the first race of the F1 season. The cooperation involved should stand all the parties in good stead as they now work together.
“It goes to show that, if the will is there and the fit is right, deals can still be done despite the uncertain economic climate.”
This article appeared in the Bristol Business Newsletter on 5 April 2019.