Heritage Capital Group advises Amelia Island’s Concours d’Elegance on the acquisition
JACKSONVILLE, Florida, July 8, 2021 / PRNewswire / – Heritage Capital Group, Inc., an investment bank and financial advisory firm serving mid-growth and emerging companies in the United States and globally, is pleased to announce that its client, The Amelia Island Concours d’Elégance (“The Concours “), was acquired by Hagerty.
Businessman and car collector Bill warner founded the Competition in 1996 with an audience of approximately 2,200 people. Since then, the Concours has grown to attract an annual crowd of around 25,000 car enthusiasts and has morphed into four days of automotive activities such as classic car auctions and exhibitions. In addition to its long-standing importance in the vintage car community, the Concours has also had a significant impact on local charities in the northeast. Florida lifting over $ 4 million since he started.
“When I founded The Concours, I wanted to infuse the calm and traditional environment of the competitions with the energy of motorsport. We succeeded and collected over $ 4 million for charity along the way, ”said Warner, who will remain president emeritus of the event. “At Hagerty, we have a passionate and highly skilled team who will bring these themes to a wider audience.
Hagerty, a brand of car enthusiasts that offers integrated products and membership programs, aims to connect car enthusiasts around the world with their Hagerty Drivers Club, which has more than 650,000 active members. This club offers unique entertainment and offers a portfolio of classic car events such as the Greenwich Concours d’Elegance, the California Mille and the Concours d’Elegance of America.
“Amélie Island is synonymous with competition and motorsport heritage thanks to the constant efforts of Bill warner and his team ”, declared McKeel Hagerty, CEO of Hagerty. “We are incredibly proud to have the opportunity to develop and expand Bill’s vision.”
Heritage was the exclusive financial advisor to the Competition. Bill prescott leading a team that also included Howard Serkin, Don wiggins, and Charlie tom.
“The fact that Heritage is negotiating the challenges of a sale has given me great comfort and assurance that the best possible deal between the parties will be executed in the most professional manner,” said Warner. “Selling a brand is very complex and complex, and it is up to anyone considering selling their business to consider Heritage Capital to represent their interests. The details and legalities should be left to the experts who deal with this genre every day. . “
Terms of the transaction were not disclosed.
Media contact: Katie Quackenbush
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Contact phone: 904-483-1029
SOURCE Heritage Capital Group