Velocity Capital Management Acquires Parella Motorsports Holdings: Driving Growth in North American Grassroots Motorsports

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Motorsports enthusiasts across North America have reason to celebrate as Velocity Capital Management ("Velocity"), a private equity firm specializing in value-add investing in high growth companies, announces its acquisition of Parella Motorsports Holdings. This strategic move solidifies Velocity's position as the largest owner and operator of grassroots motorsports live events racing classifications in the region. The acquisition will undoubtedly drive growth opportunities for both companies.

Founded in 2012 by Tony Parella, Parella Motorsports Holdings has established itself as a leading brand in the industry. With premier events taking place at iconic racetracks such as Indianapolis Speedway, Circuit of the Americas, and Road Atlanta, Parella Motorsports has become synonymous with top-tier grassroots motorsports racing. The company also owns the Sportscar Vintage Racing Association (SVRA), the largest vintage racing organization globally, and the Trans Am Series presented by Pirelli, the longest-running road racing series in the U.S. Furthermore, Parella operates Formula Regional Americas and Formula 4 in the U.S., providing a platform for aspiring drivers to climb the motorsports ladder.

Tony Parella, CEO of Parella Motorsports Holdings, expressed his excitement about the partnership with Velocity, stating, "Their hands-on, value-add approach and domain expertise within the sports and entertainment sectors are exactly what our company needed to grow both organically and through acquisitions, which will help ensure we achieve our true potential. I am excited to lead us through this next chapter in our growing motorsports operation."

This acquisition marks an important milestone for Velocity Capital Management. With its expertise and experience in the sports, media, and entertainment sectors, Velocity is well-positioned to accelerate the growth of Parella Motorsports Holdings. David Abrams, Co-Founder and Managing Partner of Velocity, welcomed Tony and the entire Parella team, emphasizing their shared commitment to creating long-term shareholder value. Abrams stated, "We have assembled an incredible group that will work with management and Velocity to execute our growth initiatives."

The collaborative efforts between Velocity and Parella Motorsports Holdings are expected to yield significant benefits for both parties. Velocity's portfolio companies, such as Elevate and Videocites, will provide crucial support in further commercializing the business and improving the monetization of Parella Motorsports' intellectual property. Additionally, Velocity's strategic partner, Delaware North, a global hospitality and entertainment company, will contribute to a range of revenue maximization initiatives.

Velocity Capital Management's acquisition of Parella Motorsports Holdings sets the stage for a new era of growth and innovation in grassroots motorsports racing. This partnership brings together industry leaders and visionaries who are poised to transform the motorsports landscape in North America. With a proven track record of success and a shared passion for motorsports, Velocity and Parella Motorsports are poised to deliver unparalleled experiences to fans and participants alike.

About Velocity Capital Management

Velocity Capital Management is a private equity firm specializing in value-add investing in high growth companies at the intersection of sports, media, entertainment, and technology. With extensive institutional investment experience and deep industry expertise, Velocity collaborates with visionary founders and executive teams to build leading global businesses. For more information about Velocity, please visit www.velocitycm.com.

About Parella Motorsports Holdings

Parella Motorsports Holdings is the largest owner and operator of grassroots motorsports live events racing classifications in North America. With a portfolio that includes the Sportscar Vintage Racing Association (SVRA), the Trans Am Series presented by Pirelli, and Formula Regional Americas, Parella Motorsports is at the forefront of the motorsports industry. For more information about Parella Motorsports Holdings, please visit www.SpeedTour.net.

About Cohesive Capital Partners

Cohesive Capital Partners is a New York-based private equity firm that specializes in private equity co-investments alongside leading sponsors. With a strong track record of successful investments, Cohesive Capital Partners brings extensive industry knowledge and expertise to the table. For more information about Cohesive, please visit www.cohesivecapital.com.