EAH Announces The Acquisition Of Z1 Motorsports, LLC
WADSWORTH, Ohio, Feb. 16, 2021 /PRNewswire/ -- Enthusiast Auto Holdings, LLC ("EAH"), a direct-to-enthusiast, digitally native platform that invests in and helps operate some of the most innovative e-commerce retailers in the performance automotive industry, announced that on November 3, 2020, it acquired a majority of Z1 Motorsports, LLC ("Z1" or the "Company") in partnership with management. Terms of the transaction were not disclosed.
Founded and managed by a team of Nissan Z-car enthusiasts, Z1 is the leading online destination for Nissan and Infiniti performance parts. Over two decades, Z1 has built a loyal customer base by offering the Nissan and Infiniti community a deep catalog of proprietary branded products complemented by aftermarket and OEM parts for both performance and repair/maintenance applications.
Z1 has built a highly differentiated, robust e-commerce platform with an outstanding track record of growth under the leadership of Founder and President Russell Floyd, who will continue to lead the Company. "EAH is an ideal partner for Z1 as they recognized our strengths, but also brought functional expertise in areas such as digital marketing, technology, and operations that will be critical to our success as we continue to scale," said Mr. Floyd.
Imran Jooma, CEO of EAH, stated, "Z1's strong reputation among enthusiast customers reflects its authentic brand, innovative product portfolio and commitment to customer service. We are excited to work with Russell and the exceptional Z1 management team to support their strong growth trajectory." Z1 is EAH's fifth acquisition of specialty automotive aftermarket websites targeting specific enthusiast communities.
Cortec Group, through its affiliate Cortec Group Fund VII, L.P., acquired EAH in December 2019 in partnership with its management team. Cortec is a New York-based private equity firm that focuses on investing in and growing middle market specialty consumer, business-to-business, distribution and healthcare products and services businesses. Additional information about Cortec can be found at www.cortecgroup.com.
About Z1
Founded in 2000 and headquartered in Carrollton, GA, Z1 is a leading direct-to-consumer e-commerce retailer of automotive aftermarket parts, components and kits for Nissan and Infiniti vehicles, primarily serving owners of performance-oriented Nissan Z and Infiniti G models and their Infiniti variants. Additional information about Z1 can be found at: www.z1motorsports.com.
About EAH
EAH is a leading e-commerce retailer of specialty automotive aftermarket parts, offering more than two million active SKUs of performance, repair and maintenance parts, selling direct-to-consumer and to professional installers. Founded in 2001, EAH is headquartered in Wadsworth, OH. EAH's websites include: www.ecstuning.com, www.turnermotorsport.com, www.pelicanparts.com, www.rennline.com, www.texas-speed.com and www.z1motorsports.com.
SOURCE Enthusiast Auto Holdings, LLC
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