Crate Racin’ USA, otherwise known as Durrence Layne Racing, has been sold by CEO and founder Mike Vaughn to an investment group.

Vaughn made the announcement Saturday night at the Durrence Layne Racing awards banquet at the Georgia Racing Hall of Fame alongside his wife, Heather (pictured).

The investment group, which wishes to remain anonymous, will keep all six racing divisions and their rules in place. The day-to-day operations of the series will also remain in the capable hands of the staff Vaughn has put together over the years.

“Adam Stewart, who Heather and I have put so much confidence in and has done a great job for us over the past few years, will continue as general manager and competition director of Durrence Layne Racing,” Vaughn said. “Roby Helm, a man that was instrumental in helping Heather and me build this series, will stay on as administrative and communications director, as well as [the] series announcer.

“Thomas McReynolds, the most feared man in the pit area, will continue to be the technical director,” Vaughn said. “Mitchell Jenkins, a young man who brings in a new generation of new ideas to the series, continues as social media director, series photographer, and series videographer.”

Durrence Layne Racing consists of two national touring divisions (the Durrence Layne Chevrolet Dirt Late Model Series and the Chevrolet Performance Super Late Model Series) and four weekly racing series divisions (the Durrence Layne Chevrolet Late Model Division, the Durrence Layne Performance Parts Street Stock Division, the Durrence Layne Chevrolet Late Model Sportsman Division, and the Durrence Layne Chevrolet Modified Sportsman Division).

For more information, visit the Durrence Layne Racing website.