Yeoman Credit was acquired by the Bowmaker group and so for the 1962 F1 season the Reg Parnell team took on the name of Bowmaker Racing Team. The team used the Lola Mk4, well-designed cars equipped with the Climax V8 engine, although 4-cylinder Climaxs were used at the start of the season due to the limited number of V8s still available. The gearbox was a Colotti. Surtees and Salvadori were the drivers for 1962. Parnell's team's best results were Surtees' two second places in England and Germany.