Grove Racing
Grove Racing is a privately held Australian motorsport team operating as "Penrite Racing" in the Repco Supercars Championship, fielding two Gen3-spec Ford Mustang GTs and serving 30+ commercial partners through sponsorship, corporate hospitality, and merchandise.
- Company typePrivate
- Founded2011
- HeadquartersMelbourne, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Grove Racing does
Grove Racing is a privately held Australian professional motorsport team, founded in May 2011 by Stephen Grove and operated under the trading name Penrite Racing, that competes in the Repco Supercars Championship — the premier touring car series in Australia and New Zealand. Owned by the Grove family through Grove Group and led by Executive Chairman Stephen Grove and CEO Brenton Grove, the team fields two Gen3-specification Ford Mustang GTs driven by Matt Payne (Car #19) and Kai Allen (Car #26). Operating from a Melbourne-area workshop with a lean headcount of 16 employees, the team serves approximately 30+ commercial partners across naming rights, Premier, Major, and General sponsorship tiers, led by naming rights partner Penrite Oil.
The core product is the motorsport competition platform itself: a high-visibility brand-association and corporate entertainment asset sold to corporate sponsors. Underlying technology consists of Ford's homologated Gen3 Supercars specification — a cost-capped, hybrid-powertrain package — supplemented by proprietary race engineering led by former Ferrari F1 engineer Riccardo Corte (Car #26 Race Engineer), with engineering support from Autodesk CAD and Acronis data infrastructure. The team competes in approximately 13 championship rounds annually across Australia and New Zealand, including marquee events such as the Bathurst 1000 (won in 2025 by Payne and Garth Tander).
Revenue is generated through three primary streams: (i) sponsorship and naming rights fees spanning automotive, industrial, and consumer-facing partners; (ii) premium trackside corporate hospitality packages organized through Octane Events (contact: Soundos Hanna); and (iii) direct-to-consumer merchandise sales through an online storefront at shop.penrite-racing.com.au. Adjacent activities include the Grove Junior Team driver development program, a structured talent pipeline for emerging Australian and New Zealand drivers, and a community partnership with the Melbourne Indigenous Transition School. Pricing is not publicly disclosed across any channel.
Grove Racing firmographics
Firmographics- Name
- Grove Racing
- Legal name
- Grove Racing Pty Ltd
- Website
- https://penrite-racing.com.au
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Grove Racing is a privately held Australian motorsport team operating as "Penrite Racing" in the Repco Supercars Championship, fielding two Gen3-spec Ford Mustang GTs and serving 30+ commercial partners through sponsorship, corporate hospitality, and merchandise.
- Ownership category
- akta.pro rank
Grove Racing industry classification
Industry- Product category
- Professional Motorsport Racing
- SIC
- Services-Racing, Including Track Operation (7948)
- akta.pro primary industry
- Motorsports Teams (F1, NASCAR, IndyCar, Rally, MotoGP, etc.) (MPAKABAB)
- akta.pro secondary industry
- Motorsports Teams & Entrants (Factory & Independent) (MPAKAGAB)
Keywords
Where Grove Racing is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Grove Racing business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Sponsorship Revenue: Primary revenue stream from naming rights and sponsorship partnerships with companies including Penrite Oil (naming rights), Ford Racing, and approximately 30+ additional commercial partners spanning automotive, industrial, and consumer sectors.
- Corporate Hospitality: Premium trackside hospitality suite offerings providing guests with pit garage tours, driver meet-and-greets, live team radio access, and exclusive interactions with team personnel at Supercars events.
- Merchandise Sales: Online shop offering team merchandise including apparel, accessories, and collectibles to fans and supporters.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Grove Racing product offering
Product offeringCore offering
Grove Racing Pty Ltd, commercially branded as Penrite Racing, operates a two-car professional motorsport team competing in the Repco Supercars Championship with Ford Mustang GT race cars driven by Matt Payne and Kai Allen. Beyond racing, the business delivers premium trackside corporate hospitality at Supercars events, sells team-branded merchandise online, and runs the Grove Junior Team driver development program for emerging Australian and New Zealand motorsport talent.
Product overview
Penrite Racing is the racing team operated by Grove Racing Pty Ltd competing in the Repco Supercars Championship. The team fields two Ford Mustang GT Supercars driven by Matt Payne (Car #19) and Kai Allen (Car #26). Beyond the core racing operations, the company offers corporate hospitality experiences at Supercar events and operates the Grove Junior Team driver development program. The team was founded by Stephen Grove in May 2011 and is now in its third year of ownership under Stephen and son Brenton Grove, partnered with naming rights sponsor Penrite Oil.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- 2025 Bathurst 1000 Victory with Matt Payne and Garth Tander
- +3 more outcomes
Companies that use Grove Racing
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles4 records
Grove Racing technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Grove Racing partnerships and signals
Strategic signalPartnerships
33 partnerships are on record, tiered core, major, general and strategic.
- Penrite OilcoreNaming rights sponsor - Australian-owned lubricant company established 1926. Penrite holds naming rights to the racing team (Penrite Racing). Multi-year extended partnership covering Supercars Championship participation. Provides premium vehicle and industrial lubricants, coolants, and gear oils.
- SteadfastcorePremier Partner - insurance group underwriting brokerage businesses across Australia.
- Grove GroupcoreParent company - privately owned Australian company founded by Stephen Grove. Grove family owns and operates the racing team. Provides overall business infrastructure and ownership.
- Ford RacingcoreVehicle manufacturer partner providing Ford Mustang GT specification vehicles for Supercars Championship competition. Technical relationship for vehicle supply and homologation.
- Apex SteelmajorMajor Partner - Australian steel company. Partnership renewed for 2026 season. Provides industrial/manufacturing sector sponsorship connection.
- GatesmajorAutomotive parts partner providing belt systems and related components. Partnership extended into 2026.
- BowensmajorMajor Partner - Australian tool and equipment supplier. New partnership announced for 2025 season.
- AutodeskmajorDesign and engineering software partner. Partnership renewed for 2025. Provides CAD/design tools for vehicle development.
- Air TouchgeneralAir conditioning and refrigeration company. Partnership for 2026 season.
- MideageneralConsumer appliances partner - air conditioning and home appliances manufacturer.
- ACLmajorPerformance automotive parts supplier. Partnership driving peak performance extended for 2026.
- Haymes PaintmajorOfficial paint supplier - Australian paint manufacturer. Partnership including livery design support.
- Snap-On Tools AustraliageneralProfessional tool supplier providing workshop equipment and tools.
- AcronisgeneralCyber protection and backup solutions partner for data management.
- LEADER ComputersgeneralTechnology partner for computing solutions. New partner for Australian Grand Prix 2025.
- Octane EventsgeneralCorporate hospitality and event management partner organizing trackside hospitality experiences.
- Melbourne Indigenous Transition School (MITS)strategicPartnership supporting Indigenous education. Team created Indigenous liveries and donated $44,000 at Darwin Indigenous Round, equivalent to funding five Indigenous students for one year at MITS.
- Garth TandercoreCo-driver for endurance rounds. Won 2025 Bathurst 1000 with Matt Payne. Multi-year deal.
- Dale WoodmajorCo-driver for endurance rounds. Returns to team for 2025 season.
- WillimentgeneralTravel and transport partner, particularly for New Zealand events. Partnership announced 2024.
- New BalancegeneralAthletic footwear and apparel partner.
- Coffee SupremegeneralCoffee supplier partner for hospitality and events.
- UNOXgeneralCommercial kitchen equipment supplier for team hospitality facilities.
- MechanixgeneralPerformance gloves and hand protection partner.
- FloorwaygeneralFlooring solutions partner.
- Air LiquidegeneralIndustrial gases supplier.
- Air & AlliedgeneralAircraft and aviation services partner.
- AltegrageneralBusiness services partner.
- Authentic CollectablesgeneralCollectible merchandise partner.
- Dasher & FishergeneralTasmanian gin partner.
- Nu-PuregeneralBottled water supplier.
- Pacific EarsgeneralHearing protection partner.
- Velocity Truck CentresgeneralCommercial truck services partner.
Scale indicators6 records
Recent moves7 records
Expansion highlights4 records
Grove Racing competitors and assessment
Company assessmentBroad incumbents
- Team Penske: Largest professional motorsport team operator in North America (NASCAR, IndyCar); serves as a broader incumbent benchmark for motorsports team scale, sponsorship portfolio depth, and corporate hospitality commercialization models.
Direct peers
- Walkinshaw Andretti United: Two-car Supercars Championship team fielding Ford Mustang GT entries; competes head-to-head with Penrite Racing on track and shares the same Ford Performance factory relationship, making it a close operational peer.
- Triple Eight Race Engineering: Australia's most successful Supercars Championship team and Penrite Racing's primary on-track rival, running multi-car Chevrolet Camaro programs in the same Repco Supercars Championship with similar sponsorship and hospitality revenue models.
- Blanchard Racing Team: Newer entrant in the Supercars Championship fielding Ford Mustang GTs; competes in the same championship rounds and pursues a similar naming-rights-plus-partners commercial model.
- Brad Jones Racing: Family-owned multi-car Supercars Championship team; highly comparable on ownership structure, private funding, corporate hospitality offerings, and championship positioning to Penrite Racing.
- Erebus Motorsport: Privately-owned Supercars Championship team running Chevrolet entries; comparable as a privately-held, sponsorship-driven racing operation competing in the same series with similar revenue mix.
- Tickford Racing: Independent Supercars team operating Ford Mustang GT entries in the Repco championship, competing for similar sponsorships, corporate hospitality clients, and championship points.
- Dick Johnson Racing: Iconic Australian motorsport team competing in the Supercars Championship with Ford Mustang GT entries, directly comparable in vehicle platform, sponsorship profile (including naming-rights partners), and championship ambitions.
Emerging players
- PremiAir Racing: Recent Supercars Championship entrant building out a multi-car program; comparable as an emerging independent team pursuing sponsorship revenue and on-track competitiveness within the same series.
Others
- Kelly Grove Racing (rebranded history): Adjacent motorsport team operator in ANZ with deep family-ownership heritage and series-aligned commercial activities; relevant for understanding the regional motorsport competitive ecosystem.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Grove Racing social profiles
Digital presenceGrove Racing financial estimates
Financial estimateRevenue estimate
Valuation estimate
Grove Racing leadership team
Management profileNumber of profiles
Profiles1 record
Grove Racing funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Grove Racing M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Grove Racing
What does Grove Racing do?
Grove Racing Pty Ltd, commercially branded as Penrite Racing, operates a two-car professional motorsport team competing in the Repco Supercars Championship with Ford Mustang GT race cars driven by Matt Payne and Kai Allen. Beyond racing, the business delivers premium trackside corporate hospitality at Supercars events, sells team-branded merchandise online, and runs the Grove Junior Team driver development program for emerging Australian and New Zealand motorsport talent.
Is Grove Racing a public or private company?
Grove Racing is a private company. It is classified as family owned and is currently operating.
When was Grove Racing founded?
Grove Racing was founded in 2011. It employs 11 to 50 people.
Where is Grove Racing based?
Grove Racing is headquartered in Melbourne, Australia, in the Oceania region.
How does Grove Racing make money?
Three revenue lines are on record. Sponsorship Revenue is the primary driver. The others are corporate Hospitality and merchandise Sales.
Who are Grove Racing's main competitors?
Team Penske is listed as a broad incumbent. Direct peers are Walkinshaw Andretti United, Triple Eight Race Engineering, Blanchard Racing Team, Brad Jones Racing, Erebus Motorsport, Tickford Racing and Dick Johnson Racing. PremiAir Racing is listed as an emerging player. Kelly Grove Racing (rebranded history) is listed as an others.
Does Grove Racing have an API?
No public API is recorded for Grove Racing.
What industry is Grove Racing in?
Grove Racing's product category is Professional Motorsport Racing. Its primary akta.pro industry code is MPAKABAB, Motorsports Teams (F1, NASCAR, IndyCar, Rally, MotoGP, etc.), with a secondary code of MPAKAGAB, Motorsports Teams & Entrants (Factory & Independent). Its SIC code is 7948.