We are advising HOF Capital on the transaction

Davis Polk is advising HOF Capital in the acquisition of Porsche AG’s equity stakes in Bugatti Rimac and Rimac Group by a consortium led by HOF Capital. Under the terms of the transaction, Porsche will fully divest its 45% stake in Bugatti Rimac and its 20.6% stake in Rimac Group to the HOF Capital-led consortium, which includes BlueFive Capital as its largest investor, as well as a group of institutional investors across the United States and European Union.

Following completion, Rimac Group is expected to take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital to support its continued growth. HOF Capital will additionally join Rimac Group as the largest shareholder alongside Mate Rimac. Financial terms of the transaction were not disclosed. The transaction is expected to close before the end of 2026, subject to customary closing conditions and regulatory clearances.

HOF Capital is a New York-based investment firm focused on partnering with category-defining technology and consumer businesses globally. The firm has over $10 billion assets under management.

Bugatti Rimac was established in 2021 as a joint venture between Porsche and Rimac Group and serves as the home of the iconic Bugatti brand, combining Bugatti’s heritage in high-performance luxury automobiles with Rimac’s advanced electric vehicle and performance technology.

Rimac Group is a Croatia-based automotive and technology company founded by Mate Rimac. Through its businesses, Rimac develops high-performance electric vehicles and advanced automotive systems and components for global automotive manufacturers.

The Davis Polk corporate team includes partners Cheryl Chan and Will Pearce and associate Vivek Thanki. Partner Kara L. Mungovan is providing tax advice. Partner Alisa A. Waxman is providing investment management advice. Members of the Davis Polk team are based in the New York and London offices.

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