July 20, 2016 by Joe Saward
The Sauber Group has been bought, in its entirety, by a Swiss-based investment company called Longbow Finance SA, registered in the village of Lutry, close to Lausanne. This entity has acquired Sauber Holding AG, the ultimate holding company of the Sauber Group, and it says that it intends to stabilise the group and create the basis for a competitive and successful future. The team will continue to use the Sauber brand and there is clearly a plan to expand the company’s engineering activities. Peter Sauber retires from all functions, being succeeded by Pascal Picci as Chairman of Sauber Holding AG while Monisha Kaltenborn, who owned 30 percent of the team, will continue to lead the company as CEO and Team Principal and will remain on the board.
“The new structure will allow us to finally further expand our third party business in which we commercialise our know-how,” says Kaltenborn. “This solution is in the best interest of our employees, partners, loyal suppliers, the base in Hinwil and for the Swiss motorsport. We are very grateful that Longbow Finance S.A.believes in the competences, efficiency and capabilities of Sauber Group, and we look forward to a new exciting future.”
There is very little known about Longbow Finance SA or who it may represent. It has been making investments for 20 years. It is a joint stock company, which manages the money of others, investing in shares, securities, real estate and other activities.