Triad Racing Technologies announced that the company will acquire Triad Racing Development, a major supplier of engines, chassis and bodies for NASCAR Camping World, Nationwide and Sprint Cup Series teams. In addition to the acquisition of Triad Racing Development, the owners also purchased a majority interest in Bill Davis Racing.

“This is an exciting time for us,” said Marty Gaunt, co-owner of TRT. “With the changing economic landscape, we see this as an opportunity to service existing Toyota teams and build the business by providing cost effective engine support and chassis production to all racing teams regardless of manufacturer association.”

Gaunt along with business partner, Michael Held, entered into the agreement to purchase Triad this week. With more than 40 years combined motorsports experience, Gaunt and Held will provide management of the company effective immediately. Gaunt and Held both return to the ownership role, having spent time as NASCAR team owners.

A California businessman, Held also owns Co-Pilott, LLC, a marketing company that services a number of clients in the motorsports arena. An announcement regarding the Bill Davis Racing Sprint Cup and NASCAR Camping World Truck Series operations, as well as detailed team plans for the 2009 race season, will be made in the coming weeks.