Starting 12 years ago with the acquisition of the Sports Racing Vintage Association after his retirement from an executive role in the Telecommunications business, historic racer Tony Parella has continued to acquire historic and modern race series, including the Historic Sportscar Racing – West (HSR) organisation, which he consolidated into SVRA, and in 2014 Steve Earl’s California-based General Racing, giving him a west coast footprint. His goal was to form a coast-to-coast historic racing organisation with a common set of regulations, allowing competitors to race anywhere in the US without having to alter their cars to a different set of rules and to create a national vintage championship.
Since then Parella Holdings has continued to make acquisitions of modern series, and now owns the rights to, amongst others, the Trans Am Series and Formula 4 United States Championship (F4 U.S.) to become the largest owner and operator of grassroots motorsports live events in the US. The companies are active running race festivals under the SpeedTour banner and include car shows and concerts attracting thousands of spectators.
Now Parella Holdings has itself been acquired by Velocity Capital Management (“Velocity”), a private equity firm specialising in investing in high growth companies across the sports, media, and entertainment sectors, via its Velocity Opportunity Fund. Terms of the transaction have not been disclosed, but CEO Tony Parella will remain at the head of the company.
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