Hagerty has expanded its portfolio of properties and events yet again, announcing the acquisition of RADwood, the car shows celebrating the vehicles and lifestyles of the 1980s and ‘90s, as well as a partnership in England with Classic & Sports Finance.
Hagerty characterizes Classic & Sports Finance as “the UK’s leading classic car finance intermediary.” The first joint effort for the partnership is scheduled for March 11 at the Goodwood Motor Circuit, where 40 classic car owners will take their vehicles onto the historic circuit.
But bigger news for American fans of the cars of the late 20th century is the addition of RADwood to Hagerty’s portfolio.
“Taking stewardship of RADwood builds on Hagerty’s purpose to save driving and car culture while expanding and supporting inspiring experiences for automotive enthusiasts,” the company reported in its news release.
“RADwood’s standalone events, where participants dress in era clothing while alternative rock roars from the public address system, will continue under Hagerty’s ownership. In addition, displays at The Amelia, Detroit Concours d’Elegance and Greenwich Concours d’Elegance will create onramps for new enthusiasts as an integral part of the brand’s new Cars & Community program.”
Added Hagerty chief executive McKeel Hagerty, “Gen X-ers and millennials are drawn to the cars and culture of their childhood, and they represent the majority of our new members. From Members Only jackets to t-topped Z Cars and Firebirds, the nostalgia of the ‘80s resonates with me personally. Rolling onto the RADwood show field is about as close as you can get to traveling back in time.”
Two of RADwood’s founders, Art Cervantes and Warren Madsen, will join the Hagerty personnel team.
“As a lifestyle brand that celebrates automotive culture, we are beyond stoked to join the Hagerty team,” Cervantes is quoted in the Hagerty announcement. “This will be a very natural transition for us. The Hagerty team are car people through-and-through, and we are very aligned in our passion for preserving the enjoyment of cars for generations to come.”
RADwood was founded in 2017 and has hosted as many as 10 events a year. Its next event is scheduled for April 23 at the Circuit of the Americas in Austin, Texas.
Regarding Hagerty’s new UK partnership, Mark Roger, managing director of Hagerty International, said, “Intelligent finance is important to the collector car market, and Hagerty is proud to partner with the UKs leading intermediary.”
Added Robert Johnson of Classic & Sports Finance, “The provision of an appropriate insurance product when financing historic and motorsport cars is paramount to our service offering. Hagerty have been pioneers, as we have, in this sector for many years making a firm relationship a natural fit and will ensure our clients have a full range of experienced products and people to support them.”
Hagerty’s announcement noted that Classic & Sports Finance was founded in 1999 and provides “flexible funding options for almost any car or asset, and with no limit on the age or type of vehicle, they are often able to do business where others cannot.”