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SEMA buys Performance Racing Industry

Tue, 20 Mar 2012

The Specialty Equipment Marketing Association (SEMA) on Tuesday finalized plans to purchase Performance Racing Industry, and the transaction will close later this month.

John Kilroy, who has experience as editor and associate publisher of PRI Magazine and as vice president of the organization, will continue to lead it.

For now, according to representatives from SEMA, it's business as usual. That means that the magazine will continue to be published, and the industry show that starts in November will go on as planned.

Steve Lewis, founder and current CEO of PRI, will now spend his time managing his Nine Racing midget team and supporting his son, who races in Formula Three.

”We carefully considered all our options, and SEMA was the obvious choice to carry on the legacy of the PRI brand,” Lewis said. “SEMA is financially sound and has an experienced management team. 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.”

Many SEMA members, exhibitors and advertisers past and present worked with PRI as well.

”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,” said Scooter Brothers, SEMA chairman of the board.

The 25th-annual PRI Trade Show takes place Nov. 29-Dec. 1 at the Orange County Convention Center. This year's SEMA show happens in Las Vegas, Oct. 30-Nov. 2.

By Jake Lingeman