Velocity Capital Management Acquires Parella Motorsports Holdings - Engine Builder Magazine

Velocity Capital Management Acquires Parella Motorsports Holdings

Velocity Capital Management, a New York-based private equity firm specializing in sports, media and entertainment, has acquired Parella Motorsports Holdings, the owner and operator of the SpeedTour event series.

“I’ve been seeking the right partner to help me realize my vision for Parella Motorsports Holdings and I am thrilled to be collaborating with the Velocity team,” says Tony Parella, CEO of PMH. “I feel like we finally have the right recipe to achieve our true potential and I’m excited to lead PMH through this next chapter of growth. With Velocity’s support, we have exactly what we need to grow both organically and through acquisitions. The 2024 season is going to be fun.”

In addition to the acquisition, Parella Motorsports Holdings also announced a 24-event calendar for SpeedTour’s 2024 season. Spanning 17 states and two countries, the SpeedTour will include on-track action from the Sportscar Vintage Racing Association (SVRA), the Trans Am Series presented by Pirelli, Prototype Sprint Series Association presented by Hankook (PSSA), Formula Regional Americas Championship (FR Americas) and Formula 4 United States Championship (F4 U.S.).

The 2024 season will also mark the launch of the new TA2 Club class, a feeder series for drivers seeking a spot in the Trans Am TA2 series, and the Ligier JS F4 Series, a new class featuring the first-generation Ligier JS F4 chassis following the introduction of the new Ligier JS F422 chasis into FIA-certified F4 U.S. competition.

For more information: speedtour.net.

You May Also Like

Isky Racing Cams’ Ron Iskenderian Has Passed Away at 75

Ron Iskenderian, the son of industry icon Ed Iskendarian and the former vice president of Isky Racing Cams, has passed away at the age of 75. He was the eldest son of Ed and Alice Iskendarian.  “Ron passed away on January 28 from complications of a stroke. He will be sorely missed by all of

Ron Iskenderian, the son of industry icon Ed Iskendarian and the former vice president of Isky Racing Cams, has passed away at the age of 75. He was the eldest son of Ed and Alice Iskendarian. 

"Ron passed away on January 28 from complications of a stroke. He will be sorely missed by all of us," said a company release. 

MPMC Media Trade Conference to Relocate in 2025

The SEMA Motorsports Parts Manufacturers Council (MPMC) Media Trade Conference, the aftermarket’s premier conference for establishing connections between motorsports parts manufacturers and media professionals, is relocating from Los Angeles, California to Orlando, Florida in 2025.  Related Articles – Mobil 1 Celebrates 50th Anniversary – Lewis Hamilton to Leave Mercedes for Ferrari in F1 2025 Season

Mobil 1 Celebrates 50th Anniversary

In 2024, ExxonMobil will commemorate its 50-year history of the Mobil 1 brand with a series of initiatives across partnerships, motorsports, and virtual reality, each of which will highlight the brand’s legacy and what’s to come. Related Articles – Nasr Victorious at Rolex 24 for Penske, Porsche – Competitors Revealed for ’24 Pikes Peak Hill

Lewis Hamilton to Leave Mercedes for Ferrari in F1 2025 Season

Lewis Hamilton will join Ferrari next year and replace Carlos Sainz.

Formula 1 Rejects Andretti and Cadillac

Formula 1 earlier this week rejected Andretti Global’s long-held bid to join the series in the 2025 or 2026 season, also denying the team’s corporate partner General Motors. Related Articles – Engine Builder Hall of Fame Names Inaugural Class – 3 Engines for Sale – LS3 and Two Small Block Chevys – Holley Names Philip

Other Posts

Steve Green to Lead Hot Shot’s Secret Dealer Sales

Green will be responsible for developing the strategy to expand the Hot Shot’s Secret dealer network.

SEMA Accepting Nominations for Hall of Fame 2024 Class

The Hall of Fame recognizes exceptional individuals who have significantly enhanced the automotive aftermarket industry.

Cummins to Recall 600,000+ Diesel Ram Trucks Amidst $2B Penalty

The Ram pickups were fitted with “defeat devices,” federal officials say.

Hot Rod Power Tour’s 30th Year Begins June 10-14, 2024

America’s largest traveling car show with 6,000+ custom cars and trucks will visit five cities in five days.