Transtar Holding Co., the parent entity of Transtar Industries, a leading distributor of automotive aftermarket parts and cutting-edge software solutions, has announced the sale of its Nickels Performance business unit to Summit Racing Equipment. Summit Racing, headquartered in Tallmadge, Ohio, is a global retailer of performance and replacement automotive parts and accessories.
According to Transtar Holding, this sale represents better market alignment for the Nickels brand, which distributes high-performance racing parts.
“We will always be proud of the Nickels team, brand, and its excellent portfolio of racing parts, and we are equally proud to sell this exceptional business to a performance market leader well positioned to foster its future growth,” said Transtar Industries President and CEO Neil Sethi.
Scott Peterson, president and CEO, Summit Racing Equipment, added, “We are excited to have acquired Nickels, a well-known and highly regarded brand. It will operate under the name Nickels Performance Distributors, serving speed shops, engine builders and installers with drag race, circle track and street performance products. Along with the competitive prices and service they have come to expect, customers will also benefit from an expanded product assortment.”