PRI - John Kilroy, 949/499-5413
SEMA - Della Domingo, 909/978-6723
PRI ANNOUNCES TRANSITION AND SALE TO SEMA
- John Kilroy, with 21 years' experience at
PRI as editor, associate publisher and vice president, continues to lead PRI.
- SEMA plans to maintain hardcore racing
identity and heritage of PRI Trade Show and PRI Magazine.
- PRI founder Steve Lewis to focus on son's
Performance Racing Industry (PRI), producers
of the motorsports business magazine and trade show, finalized plans to be
purchased by the Specialty Equipment Market Association (SEMA). The transaction
is set to close in late March 2012.
With 20-plus years of publishing and
management experience at PRI, John Kilroy will
serve as Vice President/General Manager of PRI and assume day-to-day operations
for the group. All the operations, employees and
offices will remain intact at PRI's current location in Laguna Beach,
"Steve Lewis launched the PRI concept a quarter-of-a-century ago, as an
organization totally dedicated solely to the
racing industry," said Kilroy. "It was Steve's dream that PRI
continue to serve the racing community, and to ‘nest' PRI with an organization
that clearly understands PRI's heritage and the role we play in how the racing
industry conducts business. We are pleased to have found that strategic partner
Lewis, founder and current CEO of PRI, will now
be able to dedicate his time and energy to
pursue his lifelong passion for motorsports which includes management of his
Nine Racing midget team and supporting the racing career of his son Michael,
2011 Formula 3 Italia Rookie of the Year.
"We carefully considered all our options, and SEMA was the obvious
choice to carry on the legacy of the PRI brand," said Lewis. "SEMA is
financially sound and has an experienced management team. They bring a
long-term outlook to the table, as well as exceptional insight into the trade
show business overall. I have no doubt that the PRI brand
will continue to deliver value to the racing community,
and I know John Kilroy and the current management group will keep the
basic business themes that have been established as they continue to work out
of the current location here in Laguna Beach that has housed the PRI family for
all these years," he said.
Many current and past SEMA Board of Directors
have been involved with PRI through the years as exhibitors and advertisers and
bring a keen understanding of how the two organizations complement each other.
"We're very excited about the continuation of
the great business offerings for the performance and racing community from this
acquisition," said Scooter Brothers, SEMA Chairman of the Board. "Having worked
with the folks from PRI for many years, I know the show and magazine are
appreciated and used by the racing industry to further their marketing efforts,
and that racing entrepreneurs look upon the PRI Trade Show as a unique event
and a valuable voice. The transition will preserve and protect that voice, and
the show's unique character and authenticity. We look forward to the PRI team
carrying on the legacy and traditions of Steve Lewis.
"We also want to thank Steve Lewis for
all he's done for the racing industry, and for creating PRI," added
Brothers. "PRI Magazine and the PRI Trade Show have played a key role in
the growth of the racing industry over the past 25 years, and we look forward
to its continued success."
SEMA President Chris Kersting said, "The
Performance Racing Industry Trade Show and magazine are great complements to
the SEMA mission: they help their customers' businesses to succeed. SEMA looks
forward to providing the PRI team the resources and support to continue
delivering great value to the racing and performance segment."
Founded in 1963, the SEMA trade association
provides services and resources to businesses in the automotive specialty
equipment industry. Members include manufacturers, distributors, retailers and
marketers of products that enhance the styling and functionality of cars,
trucks and SUVs. In addition to producing the premier automotive accessories
trade show, where more than 100,000 individuals come to do business, SEMA
offers education, research and several publications specifically targeted to the
industry. The association also represents its members with a legislative
The 25th Annual Performance Racing Industry
Trade Show takes place November 29 - December 1, 2012 in the North/South
Building of the Orange County Convention Center in Orlando, Florida. It
features exhibits by 1,100 racing companies in 3,100 booths, requiring 700,000
square feet to house the event. 38,000 buyers will attend from across the US,
and 72 countries.