All rights reserved.You have reached a degraded version of because you're using an unsupported version of Internet Explorer.įor a complete experience, please upgrade or use a supported browser ™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. Now, Sandbrook hopes to use his business relationships to find the right firm for the Andretti SPAC to merge with, adding that the infrastructure bill that passed in Congress and signed by President Joe Biden last year could lead to more opportunities to buy EV charging companies. “Michael and I have known each other forever,” Sandbrook said, joking that Andretti didn’t need to hire a headhunter or go on LinkedIn to find a CEO for his SPAC. ![]() US Concrete was even a sponsor of Marco Andretti’s Indy car. ![]() They were next door neighbors growing up in Nazareth, Pennsylvania. 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. And Zak Brown, CEO of the McLaren Racing team that has top drivers on the Formula 1 circuit, is now a board member of Andretti Acquisition. ![]() F1 is now a part of John Malone’s Liberty Media empire, and the racing business even has its own tracking stock, which has surged nearly 65% in the past year.Īndretti did say that his SPAC would consider acquisitions of companies with ties to the electric auto racing business.Īndretti Autosport already has a team that competes in the Formula E series for electric race cars.
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