SEMA Purchases PRI Magazine & Trade Show
LAGUNA BEACH, Calif. — The Specialty Equipment Market Ass’n has finalized plans to purchase Performance Racing Industry, producers of the popular PRI Trade Show and motorsports business publication.
John Kilroy will remain 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, California.
Longtime PRI Publisher and show organizer Steve Lewis notified customers by personal letter shortly before the official announcement was made.
“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 in SEMA.”
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.”
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.”BREAKING NEWS: SPEED SPORT is back in print with a new monthly format! Subscribe for just $24.95. Special offer for former subscribers.