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

HOF Capital has completed its previously announced acquisition of Porsche’s interests in Bugatti Rimac and Rimac Group through a consortium of institutional investors from the US and Europe.

The transaction, which was first announced in April, values Porsche’s combined interests at approximately €1bn and has now closed following the receipt of required regulatory approvals.

HOF originated and led the deal and now holds a 23.5% stake in Rimac Group, making it the company’s largest shareholder. Rimac Group owns a controlling 55% interest in Bugatti Rimac, while HOF and its consortium partners have also acquired Porsche’s remaining 45% direct stake in Bugatti Rimac.

The investment gives HOF representation on the supervisory boards of both businesses, with the firm holding three seats across the two companies. Hisham Elhaddad, HOF Capital’s co-founder and managing partner, has joined the supervisory boards of Rimac Group and Bugatti Rimac, while partner Josh Klaczek has taken a seat on the Rimac Group board.

The transaction marks an expansion of HOF’s investment activities beyond its venture capital roots into larger and more complex transactions involving established businesses and multiple parts of the capital structure.

Elhaddad said the investment represented the type of partnership HOF was established to pursue, highlighting Bugatti’s position in the luxury automotive market and the opportunity to work with Rimac founder and CEO Mate Rimac and his management team.

Mate Rimac said the completion represented an important milestone for both Bugatti Rimac and the wider Rimac Group, adding that the new partnership would support the businesses’ next phase of development and growth.

The deal provides HOF and its consortium investors with exposure to Bugatti, one of the world’s best-known luxury automotive brands, alongside the wider Rimac Group, whose businesses span high-performance automotive technology and electric vehicle engineering.

For HOF, the transaction represents a significant move into direct ownership of established corporate assets, building on its earlier investment activity while giving the firm a strategic role in the future development of the Rimac businesses.