The Strakka Racing sports car team has expanded into single-seaters with the acquisition of Formula Renault 3.5 entrant P1 Motorsport.
British-based Strakka revealed its plans to grow last season on the back of the establishment of its Strakka Performance driver training division, which uses a pair of previous-generation FR3.5 Dallara-Renaults. It has now completed a take over of P1 from Austrian Walter Grubmuller Sr., who bought out former co-owner and team founder Roly Vincini two years ago.
Strakka owner Nick Leventis said: "Strakka Racing wants to have a legacy of young talented drivers we've helped to become top professional racing drivers, through our FR3.5 team, our sportscar team and our Strakka Performance driver development program."
Strakka team manager Dan Walmsley added: "The acquisition of P1 Motorsport signals our intention to build a multi-faceted motorsport business. We have acquired a strong team in a highly competitive championship and believe our involvement will help achieve greater on-track success."
The team will continue to run Will Stevens and Matias Lane, who started the season with the team at Monza last weekend, under the P1 by Strakka Racing banner.
Strakka was established in 2008 and moved into the prototype arena the following season. This year, it is running an LMP1 HPD ARX-03c in the World Endurance Championship.
P1 can trace its origins back to the early 1990s when former Brabham chief mechanic Vincini first used the name for a British Formula 3 team.