kelloggs5TLfan
Team Owner
http://www.jayski.com/cupnews.htm#news43
Petty Investor to be announced soon UPDATE 3 announc Wed: Petty Enterprises' yearlong search to find an investment partner seems to be in the final stages, with an announcement tentatively planned for next week to announce a deal with a private equity firm. Boston Ventures is expected to take over a controlling interest in the company, which has fallen behind NASCAR's top organizations and needs a boost to become competitive. Richard Petty declined to discuss the deal Saturday. "We're not even going there," he said. Robbie Loomis, vice president of racing operations, said Petty Enterprises is an attractive partner to any potential investors. "The Petty brand is such a clean brand and stands for so much, and we want to take it to the next level with the right company," Loomis said. Boston Ventures has invested six funds totaling $2.6 billion in capital commitments in its 22-year history. Some of Boston Ventures previous portfolio companies include American Media Inc., Motown Records, Six Flags Entertainment and Continental Cablevision.(ESPN/AP)(6-8-2008)
Petty Investor to be announced soon UPDATE 3 announc Wed: Petty Enterprises' yearlong search to find an investment partner seems to be in the final stages, with an announcement tentatively planned for next week to announce a deal with a private equity firm. Boston Ventures is expected to take over a controlling interest in the company, which has fallen behind NASCAR's top organizations and needs a boost to become competitive. Richard Petty declined to discuss the deal Saturday. "We're not even going there," he said. Robbie Loomis, vice president of racing operations, said Petty Enterprises is an attractive partner to any potential investors. "The Petty brand is such a clean brand and stands for so much, and we want to take it to the next level with the right company," Loomis said. Boston Ventures has invested six funds totaling $2.6 billion in capital commitments in its 22-year history. Some of Boston Ventures previous portfolio companies include American Media Inc., Motown Records, Six Flags Entertainment and Continental Cablevision.(ESPN/AP)(6-8-2008)
