Petty Enterprises

Petty Enterprises Introduction To Investment Bank Duff & Phelps

Issue:

In 2006, renowned NASCAR team Petty Enterprises sought an investment bank to facilitate a capital investment into its operation.

Solution

Petty Enterprises turned to Advican to make several initial introductions to investment banks in the search for one that would support the legendary race team in its investment quest. We investigated the market and found the boutique investment bank Duff & Phelps, which was interested in pursuing this opportunity. We arranged for Duff & Phelps senior management to visit a NASCAR race and spend time with Richard Petty and his team.

Take-away:

Ultimately, Petty Enterprises decided to move in a different direction. But it was this initial meeting with an investment bank that began a journey that eventually resulted in an investment from George Gillett Jr.

Petty Enterprises