AIX Investment Group Completes Acquisition of PHM Racing in Formula 2 and Formula 3

AIX Investment Group Completes Acquisition of PHM Racing in Formula 2 and Formula 3

AIX Investment Group Completes Acquisition of PHM Racing

PHM Racing’s Formula 2 and Formula 3 teams have been rebranded as AIX Racing following the completion of an acquisition by Dubai-based financial services firm, AIX Investment Group.

AIX Investment Group has taken control of the team through its ‘We Are The Future’ programme, which oversees its portfolio of partnerships in sports and development. PHM Racing, which competes in F2, FIA F3, Formula Regional Middle East, and various Formula 4 championships across Central Europe, Italy, Europe, and the UAE, will now operate under the AIX Racing banner.

Morne Reinecke, CEO of the ‘We Are The Future’ initiative, expressed his vision for the newly acquired team: “Our vision for AIX Racing transcends mere ownership; it embodies a commitment to excellence, innovation, and success. With this acquisition, we pledge to bring the highest quality of resources to our teams and drivers, empowering them to reach unprecedented heights of performance and accomplishment.”

PHM Racing originally acquired the F2 and FIA F3 entries from Charouz Racing System at the end of 2022, running the teams out of Charouz’s Czech factory throughout 2023. AIX Investment Group initially joined as a sponsor for the F2 team that year and expanded its involvement at the beginning of 2024, becoming the title sponsor for entries in F2, F3, and F4.

In addition to its motorsport ventures, AIX sponsors Euroformula points leader Brad Benavides and the racing careers of Charlie and Oscar Wurz, the sons of former Formula 1 driver Alex Wurz. Alex Wurz, now a strategic advisor to AIX, commented on the group’s mission: “It is very exciting to help assess and craft the future superstars in their final steps towards the pinnacle of motorsport, into F1. With AIX Investment Group’s culture to foster and support talent, our goal at AIX Racing is to provide the platform to inspire and maximise performance at this elite level of competition.”

Outside of motorsport, the ‘We Are The Future’ programme also supports Spanish football club RC Celta de Vigo, and UAE-based football academies run by Iker Casillas and Fursan Hispania.

Formula Scout understands that there will be no operational changes within the team as a result of the takeover, and that the F4 squads will continue to compete as PHM AIX Racing rather than undergoing a complete rebranding.

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AIX Investment Group Completes Acquisition of PHM Racing