The Forest Road Company--a Los Angeles-based investment firm--has acquired the ERT Formula E Team and rebranded to Kiro Race Co. ahead of Season 11 of the Formula E World Championship.

The team has also formed a technical partnership with Porsche Motorsport. The collaboration will see Kiro Race Co. equipped with Porsche's powertrain technology.

With the backing of Forest Road--as well as David Kaplan and Bennett Rosenthal, co-founders of Ares Management--Kiro Race Co. is strategically placed for the long term and will be focused on driving sustained growth. Kaplan, who provided capital for the acquisition along with Rosenthal, will act as managing partner of the team.

For more information, visit fiaformulae.com.