The Performance Racing business was founded in Sweden, in 1999, to concentrate various motorsport activities into one source.

The business was bought by Issazadhe in 2000 to manage his own racing team.

In the beginning, in 1999 and 2000, the team ran in Europa Cup Formula Opel.

It also became involved in Formula Three in Germany, Sweden and Great Britain.

[2] The team joined the International Formula Master championship in 2008.