Equity firm's partnership injects new money into Petty Enterprises
CONCORD, N.C. -- The inscription on Richard Petty's belt still says "King Richard."
But Petty no longer is the king of Petty Enterprises -- at least from an ownership standpoint.
Petty has sold majority ownership of the company his father started in 1949 to Boston Ventures, a private equity firm, in hopes of restoring NASCAR's most storied franchise to the prominence it held when he was winning seven championships.
Boston Ventures will have four seats on ...
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