The Bob Bondurant School of High Performance Driving is being purchased by Stig Investments, a small group of business leaders with significant experience bringing organizations to maximum profitability and growth. The well-known racing school filed for voluntary Chapter 11 in late 2018.
Stig is a select assembly of entrepreneurs who also are graduates of the Bondurant school, racing enthusiasts and automobile collectors. One member of the investor group, Bruce Belser, will serve as CEO of Bondurant, effective upon the close of the transaction, which is expected in the coming weeks. Belser is a successful entrepreneur, having founded several businesses, and has served as a corporate pilot, Delta Airlines commercial pilot, fighter pilot and U.S. commander in the U.S. Air Force. Belser has attended Bondurant school twice as a student.
The new owners plan to ensure current and incoming students at the school have an excellent experience without interruption; the company is currently operating, and school is in session. They will immediately stabilize the financial foundation of the organization and plan to infuse significant capital into the business to enhance the guest experience for individuals and groups, as well as provide excellent return on investment for sponsorship partners and a best-in-class work environment for employees.
“We plan to establish the next generation of race car learning and entertainment as popularity in car racing and interest in consumer destination experiences continues to grow,” said Belser.
He adds that the new owners will retain and enhance the reputation of the solid instruction the school is known for; head instructor Mike McGovern, who has been with the company for 36 years, and assistant instructor Danny Bullock, a 22-year employee, will continue to lead guest experience and teaching with all current instructors. The team of instructors at the school are world renowned for their deep knowledge and experience, and have taught some of the winningest drivers in the world as well as celebrities, star athletes and corporate executives.
“We’ve worked diligently over the past six months to find new owners who are not only smart business leaders, but can continue Bob Bondurant’s rich legacy,” said Tim Shaffer, chief restructuring officer at the school. “Bruce Belser and his colleagues will maintain the integrity and quality of the school to the highest standards. I’m confident the Bob Bondurant School of High Performance Driving will remain a vibrant part of the international racing and local communities for years to come.”
Belser and the other graduates of the program who are now acquiring the business seem humbled by the project. “As graduates of the School, we truly honor the lasting impact Bob Bondurant has made on the racing community,” said Belser. “We have a profound respect for Bob and what he has built – an immersive experience for drivers of all skill levels. We sincerely appreciate the immense dedication of the school’s employees, students and sponsors over the last few months. Their support and hard work have been integral to keeping the company on track and will be critical as we move forward.”
