The classic car restoration industry in the US thrives on passion and expertise, where skilled craftsmen bring vintage vehicles back to life. Companies involved range from small repair shops to specialized restoration firms, offering services that include bodywork, paint, upholstery, and parts sourcing. The industry celebrates iconic automotive history, catering to collectors and enthusiasts who seek authenticity and quality. As technology advances, restoration techniques are evolving, incorporating modern tools while respecting traditional craftsmanship. Increasing interest in classic cars as investment assets stimulates demand, suggesting growth as more people look to preserve automotive heritage while enjoying the thrill of driving restored classics.

Investors in the classic car restoration space show a mix of backgrounds, ranging from corporate giants to agile venture capital firms. Headquartered in key regions like New York, Michigan, and Dallas, these firms reveal varying sizes, with some employing over 5,000 staff and others being much smaller. Noteworthy players were active in 2024, with deal counts spanning from one to several hundred, indicating a dynamic investment arena. Founded between the early 1980s to recent years, their commitment is evident, signaling a strong belief in the restoration industry’s potential.

Top 12 Classic Car Restoration Investors in the US

1. Penske Automotive Group

• Website: penskeautomotive.com
• Type: Corporate
• Headquarters: Bloomfield Hills, Michigan, United States (USA)
• Founded year: 1990
• Headcount: 10001+
• Number of deals in 2024: 4
• LinkedIn: penskeautomotive

Penske Automotive Group, Inc. is a diversified international transportation services company founded in 1990, headquartered in Bloomfield Hills, Michigan. The company specializes in automotive and commercial truck retailing, operating a vast network of dealerships across the United States, Canada, and Western Europe. Penske Automotive Group has been actively expanding its portfolio through strategic acquisitions, including the recent purchase of Rybrook Holdings, which operates premium car dealerships in the UK, featuring brands like BMW, MINI, and Porsche. Additionally, they acquired Porsche Wilmington and two Porsche dealerships in Australia, further solidifying their presence in the luxury automotive market. Their acquisition of Erhard BMW of Bloomfield also highlights their commitment to premium brands, which often have a classic car following. These transactions indicate that Penske Automotive Group is not only focused on new and used vehicle sales but may also engage in the classic car restoration market, particularly for high-end vehicles.

2. FJ Labs

• Website: fjlabs.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 169
• LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. They have a diverse portfolio of over 1,000 companies, many of which have achieved unicorn status. Notably, FJ Labs has made investments in companies relevant to the classic car restoration industry, such as Catawiki, Europe's fastest-growing online auction house, which has a significant focus on classic cars among other vintage items. Additionally, their investment in Caroobi, a platform that raised funds for car services, further highlights their engagement with the automotive sector. With 169 investments in 2024 alone, FJ Labs demonstrates a robust activity level in various industries, including those related to classic cars.

3. Hagerty

• Website: hagerty.com
• Type: Corporate
• Headquarters: Traverse City, Michigan, United States (USA)
• Founded year: 1983
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: hagertycars

Hagerty is an insurance provider and automotive lifestyle brand specializing in classic car insurance and related services. Founded in 1983 and based in Traverse City, Michigan, Hagerty serves car enthusiasts with a range of products, including a marketplace for collectible cars and valuation tools. In recent years, Hagerty has made significant investments in the classic car community, including the acquisition of the Amelia Island Concours d’Elegance and the Concours d'Elegance of America, both prestigious events that celebrate classic cars. They also acquired DriveShare, a peer-to-peer online marketplace for classic cars, which connects owners with renters, further enhancing their involvement in the classic car ecosystem. These transactions reflect Hagerty's commitment to fostering classic car culture and supporting restoration efforts within the industry.

4. The Carlyle Group

• Website: carlyle.com
• Type: Private Equity
• Headquarters: Washington, D.C., District Of Columbia, United States (USA)
• Founded year: 1987
• Headcount: 1001-5000
• Number of deals in 2024: 25
• LinkedIn: the-carlyle-group

The Carlyle Group Inc. is a prominent investment management firm founded in 1987, specializing in private equity, real assets, and private credit. With a global presence and a focus on providing tailored investment solutions to institutional investors, Carlyle aims to drive long-term value across various sectors. Notably, Carlyle has made significant investments in the automotive industry, including the recent acquisition of Worldpac for $1.5 billion, a major distributor of replacement parts that generated $2.1 billion in revenue for the year ending June 30, 2024. This acquisition aligns with Carlyle's strategy to invest in resilient sectors, particularly those related to automotive services. Additionally, Carlyle's past investments, such as Axalta Coating Systems, which specializes in coatings for vehicles, further demonstrate its engagement in the automotive space, potentially linking it to classic car restoration activities.

5. Kinderhook Industries

• Website: kinderhook.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 2003
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn: kinderhookindustries

Kinderhook Industries is a private equity firm based in New York, specializing in investment management and portfolio management since its founding in 2003. The firm focuses on middle market businesses across various sectors, including healthcare services, environmental services, and notably, automotive services. Kinderhook has a strong track record in the automotive sector, having completed 52 automotive-related transactions. Key acquisitions relevant to classic car restoration include ProCare Automotive, which provides automotive repair services, and Original One Parts, a supplier of certified auto parts. Their recent acquisition of Kaizen Collision Center further emphasizes their commitment to automotive services, which can be integral to classic car restoration. With a strategy that combines capital investment and operational expertise, Kinderhook Industries aims to help automotive businesses grow and succeed, making them a significant player in the automotive restoration landscape.

6. Deep Tech Fund (an Alumni Ventures Fund)

• Website: av.vc
• Type: Venture Capital
• Headquarters: Manchester, New Hampshire, United States (USA)
• Founded year: 2023
• Headcount: 51-200
• Number of deals in 2024: 258
• LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. The firm provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. Among its notable transactions, the fund has invested in Car Body Lab, which focuses on automotive body repair technologies, and MOTORMIA, which raised significant funding in 2023 and 2024, indicating a strong interest in automotive-related innovations. These investments suggest that the fund is actively engaging with companies that could play a role in the classic car restoration industry, making it a relevant player in this niche.

7. Fenix Parts

• Website: fenixparts.com
• Type: Corporate
• Headquarters: Hurst, Texas, United States (USA)
• Founded year: 2015
• Headcount: 1001-5000
• Number of deals in 2024: 4
• LinkedIn: fenix-parts

Fenix Parts is a corporate investor based in Hurst, Texas, specializing in the automotive parts retail sector. Founded in 2015, the company has rapidly expanded its operations across the United States, focusing on providing quality used OEM auto parts to both retail and commercial customers. With a commitment to affordability and customer satisfaction, Fenix Parts has made several strategic acquisitions to enhance its market presence. Notable transactions include the acquisition of Tri-City Auto Salvage, Inc. in 2015, which allowed them to tap into a revenue-generating salvage operation, and the acquisition of All Foreign Used Auto Parts Inc. in 2021, marking their entry into the Midwest market. More recently, they have acquired American & Import Auto Parts, Brothers Auto Parts, and Neal Auto Parts, further solidifying their position in the automotive parts industry. These acquisitions not only expand their inventory but also enhance their ability to serve customers in the classic car restoration market, where sourcing specific parts is crucial.

8. eBay

• Website: ebay.com
• Type: Corporate
• Headquarters: San Jose, California, United States (USA)
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: ebay

eBay is a corporate investor based in San Jose, California, known for its e-commerce platform that facilitates online auctions and sales for a diverse range of products, including electronics, fashion, and collectibles. Founded with the aim of providing a user-friendly marketplace, eBay has made several strategic acquisitions to enhance its offerings. Notably, in 2018, eBay acquired Motors.co.uk from Cox Automotive, aiming to bolster its classified ad services for cars and compete with platforms like AutoTrader. This acquisition is particularly relevant to the classic car restoration industry, as it enhances eBay's capabilities in the automotive sector. Additionally, eBay has engaged in other acquisitions, such as Kurant and Rumgr, which, while not directly related to classic cars, demonstrate eBay's ongoing strategy to expand its marketplace functionalities. Overall, eBay's activities in the automotive space, especially through Motors.co.uk, position it as a noteworthy player in the context of classic car sales and restoration.

9. Axalta

• Website: axalta.com
• Type: Corporate
• Headquarters: Philadelphia, Pennsylvania, United States (USA)
• Founded year: 2013
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: axalta

Axalta Coating Systems Ltd. is a leading coatings manufacturer based in Philadelphia, Pennsylvania, specializing in innovative solutions for the automotive and industrial sectors. Founded in 2013, Axalta has a workforce of over 10,000 employees and operates globally, focusing on enhancing durability and aesthetics while promoting sustainability in their applications. The company has made significant acquisitions to strengthen its position in the automotive refinish market, including the acquisition of U-POL Holdings Limited, a UK-based manufacturer of automotive refinish products, for approximately $590 million. This acquisition is particularly relevant to classic car restoration as U-POL's products are used in the refinishing of vehicles. Additionally, Axalta's acquisition of CH Coatings, a major distributor of automotive coatings in Switzerland, and Geeraets Autolak, a distributor of its Cromax refinish coating products in the Netherlands, further demonstrates their commitment to providing high-quality coatings that are essential for classic car restorers. These strategic moves highlight Axalta's focus on the automotive sector, making them a relevant player in the classic car restoration industry.

10. Fox Factory

• Website: ridefox.com
• Type: Corporate
• Headquarters: Duluth, Georgia, United States (USA)
• Founded year: 1974
• Headcount: 1001-5000
• LinkedIn: fox-racing-shox

Fox Factory Holding Corp. is a corporate investor based in Duluth, Georgia, specializing in high-performance suspension components for a variety of vehicles, including motorcycles, trucks, and mountain bikes. Founded in 1974, the company serves both individual consumers and businesses in the outdoor sports and automotive industries. Notably, Fox Factory has made several strategic acquisitions that enhance its position in the automotive sector. Among these, the acquisition of Tuscany Motor Company for $53.4 million in 2017 is particularly relevant, as Tuscany is known for its work in vehicle customization and performance enhancements, which aligns closely with classic car restoration. Additionally, Fox Factory's acquisition of SCA Performance Holdings and Method Race Wheels further demonstrates their commitment to expanding their automotive product offerings, which can also benefit classic car enthusiasts looking for performance upgrades. Overall, Fox Factory's focus on enhancing vehicle performance and safety through their acquisitions positions them as a relevant player in the classic car restoration market.

11. Ppg

• Website: ppg.com
• Type: Corporate
• Headquarters: Pittsburgh, Pennsylvania, United States (USA)
• Founded year: 1883
• Headcount: 10001+
• LinkedIn: ppg-industries

PPG Industries, Inc., founded in 1883 and based in Pittsburgh, Pennsylvania, is a leading manufacturer of paints, coatings, and specialty materials. The company serves a diverse range of industries, including automotive and aerospace, and is committed to sustainability and community engagement. PPG has made several strategic acquisitions to enhance its capabilities in the automotive sector, particularly in automotive refinish products. Notable transactions include the acquisition of SEM Products Inc., a manufacturer of automotive refinish products, and Industria Chimica Reggiana, which specializes in automotive refinish and industrial coatings. These acquisitions demonstrate PPG's commitment to providing innovative solutions that enhance product performance and aesthetics, making them a significant player in the classic car restoration market.

12. Wheel Pros

• Website: wheelpros.com
• Type: Corporate
• Headquarters: Greenwood, Colorado, United States (USA)
• Founded year: 1995
• Headcount: 1001-5000
• LinkedIn: wheel-pros

Wheel Pros is an automotive parts supplier based in Greenwood, Colorado, founded in 1995. The company specializes in wheels, tires, suspension systems, and accessories, catering to both consumers and businesses in the automotive sector. Wheel Pros has made several strategic acquisitions to expand its product offerings, including American Force Wheels, which focuses on custom wheels that can appeal to classic car restorers. Additionally, their acquisition of TeraFlex, known for aftermarket suspensions and shocks, and ReadyLift, which specializes in suspension lift kits, further demonstrates their commitment to enhancing vehicle performance. These transactions reflect Wheel Pros' strategy to grow through acquisitions and provide a wide range of products that can be beneficial for classic car restoration projects.

Classic Car Restoration Insights: Key Investors in the US

Investor	Headquarter	Size	Founded	Deals 2024
Penske Automotive Group	Bloomfield Hills, Michigan, United States (USA)	10001+	1990	4
FJ Labs	New York, New York, United States (USA)	11-50	2015	169
Hagerty	Traverse City, Michigan, United States (USA)	1001-5000	1983	1
The Carlyle Group	Washington, D.C., District Of Columbia, United States (USA)	1001-5000	1987	25
Kinderhook Industries	New York, New York, United States (USA)	11-50	2003	5
Deep Tech Fund (an Alumni Ventures Fund)	Manchester, New Hampshire, United States (USA)	51-200	2023	258
Fenix Parts	Hurst, Texas, United States (USA)	1001-5000	2015	4
eBay	San Jose, California, United States (USA)	10001+		1
Axalta	Philadelphia, Pennsylvania, United States (USA)	10001+	2013	2
Fox Factory	Duluth, Georgia, United States (USA)	1001-5000	1974	0
Ppg	Pittsburgh, Pennsylvania, United States (USA)	10001+	1883	0
Wheel Pros	Greenwood, Colorado, United States (USA)	1001-5000	1995	0

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