So how did a construction materials executive get involved in auto racing?Īs it turns out, he’s known Michael Andretti and the rest of the family for most his life. He was CEO of US Concrete from 2011 until his retirement in 2020. Sandbrook brings the Wall Street savvy to that party. “So if companies we’re looking to buy are in that space, we have a lot to bring to the party.”
“Our team has a lot of experience in the all electric Formula E series,” Andretti said. Wall Street has fallen in love with bowling
“But Netflix has done wonders for Formula 1 and that’s good for all of racing.”īryce Henderson, 11 right, celebrates a missed roll after heckling his sister, Jaylin, 16, during a competitive game at Bowlero Los Angeles bowling alley in Westchester on Tuesday, April 6, 2021. “There has been a lot of speculation about how I’ve been looking to get involved in Formula 1, but we’re not going to do it through the SPAC, which is independent of Andretti Autosport.” he said. RBC is advising Andretti Acquisitions as the SPAC’s underwriter.īut Andretti said that even though there were rumors last year that Andretti Autosport wants to buy a Formula 1 team, investors shouldn’t expect the SPAC to make any direct investments in the world’s top racing circuit - despite the Netflix boost that F1 has gotten. Like many SPACs, Andretti is hoping to bring on other investors through a so-called private investment in public equity, or PIPE, transaction.
“There are a lot of emerging companies and established companies that could benefit from the Andretti brand,” Brown said, adding that the SPAC is looking to do a deal in the $1 billion to $2 billion range. (VMC), and chief financial officer, Matt Brown, about what’s next for Andretti Acquisition.īrown said that Andretti Acquisition is looking at deals throughout the automotive landscape, including electric vehicles and autonomous cars. Netflix teaming up with PGA Tour and golf's majors for 'immersive' docuseries with glittering cast of playersĬNN Business spoke with Andretti, co-CEO of Andretti Acquisition and head of the Andretti Autosport racing team, as well as his fellow co-CEO, Bill Sandbrook, former CEO of US Concrete, which is now owned by Vulcan Materials Alex Goodlett/CJ Cup Summit/ Ben Jared/PGA TOUR/Getty Images
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