Triad Racing Technologies Acquires Triad Racing Development
CORNELIUS, N.C. (December 22, 2008) -- Triad Racing Technologies (TRT) announced today that the company will acquire Triad Racing Development, a major supplier of engines, chassis and bodies for NASCAR Camping World, Nationwide and NASCAR Sprint Cup Series teams. In addition to the acquisition of Triad Racing Development, the owners also purchased a majority interest in Bill Davis Racing.
"This is an exciting time for us," said Marty Gaunt, co-owner of TRT. "With the changing economic landscape, we see this as an opportunity to service existing Toyota teams and build the business by providing cost effective engine support and chassis production to all racing teams regardless of manufacturer association."
Gaunt along with business partner, Michael Held, entered into the agreement to purchase Triad this week. With more than 40 years combined motorsports experience, Gaunt and Held will provide management of the company effective immediately. Gaunt and Held both return to the ownership role, having spent time as NASCAR team owners. A California businessman, Held also owns Co-Pilott, LLC, a marketing company that services a number of clients in the motorsports arena.
"We've known Marty and Mike for many years and wish them all the best in this new endeavor," said Lee White, president and general manager of TRD, U.S.A. (Toyota Racing Development). "Of course, we've had a very good relationship with Bill Davis and everyone at Triad and we expect that relationship to continue with TRT."
"We're proud to be a support gear for all teams in the NASCAR arena and racing across the US," said Held. "Triad Racing Technologies will provide services such as engine development, manufacturing and engineering services as well as chassis fabrication and design. Bill and Gail Davis have built strong companies and we intend to carry on the tradition. Clearly, Triad's history of championship successes are proof that this brain trust led by Jon Dysinger and Todd Holbert will continue to be a force in the marketplace."
In addition to the engine and chassis business, which will remain in High Point, North Carolina, TRT has opened a sales support office in Cornelius, NC, to support all of TRT's clients in NASCAR and across other potential racing series. Co-Pilott Motorsports Marketing will handle all of the marketing and public relations for the new company.
An announcement regarding the Bill Davis Racing NASCAR Sprint Cup and NASCAR Camping World Truck Series operations, as well as detailed team plans for the 2009 race season, will be made in the coming weeks.