Following a private equity takeover and subsequent company restructure Jeld-Wen will not renew its association with Charlie Schwerkolt Racing for next season.

Hard on the heels of the news that Lee Holdsworth will replace Jack Perkins in the #18 Ford for 2015, the team has announced the departure of its major backer.

CSR is known to be working on several options for next season and is close to finalising a primary commercial partner.

Jeld-Wen enjoyed two years of backing with the #18 licence but has been forced into a restructure which has seen a reduction in its marketing budgets.

Team owner Charlie Schwerkolt said his squad is about to embark on a new and exciting phase.

“We’re still seeking major backing for the 2015 season, however with Lee Holdsworth behind the wheel of the #18, we will be one of the most competitive packages in the field, and will offer immense value to any company looking to build their brand nationwide,” Schwerkolt said.

“We offer huge value to our partners. We’ve worked hard with Jeld-Wen over the last two years, assisting them to grow their business through fantastic business to business opportunities which have brought over $4million into their Corinthian Doors business.”