Radwood acquired by Hagerty | The ’80s and ’90s party to continue under new stewardship

David S.
By David S. Wallens
Mar 9, 2022 | Hagerty, Radwood

Photography Credit: Chris Tropea

Radwood, the celebration of all things ’80s and ’90s, has been acquired by Hagerty. Radwood joins a growing Hagerty event umbrella as other recent additions include landmark events like Concours d’Lemons, The Amelia and the California Mille.

 “Gen X-ers and millennials are drawn to the cars and culture of their childhood, and they represent the majority of our new members,” McKeel Hagerty, CEO of Hagerty, said in a release. “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.”

Radwood was created in 2017 and grew to 10 events by 2019. GRM Editorial Director David S. Wallens showed his 1984 Porsche 911 Carrera at the recent Radwood at The Amelia.

[Rad car, rad bike, Radwood | Project Porsche 911 Carrera]

As a lifestyle brand that celebrates automotive culture, we are beyond stoked to join the Hagerty team,” Art Cervantes, cofounder and CEO of Radwood, said in the same release. “We’ve been partners for years now and we know 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.”

The next Radwood takes place on Saturday, April 23, from 11:00 a.m. to 4:00 p.m. at Circuit of the Americas in Austin, Texas.

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Brake_L8 (Forum Supporter)
Brake_L8 (Forum Supporter) HalfDork
3/9/22 9:03 a.m.

Interesting. I'm happy for the founders/Radwood leadership, and not sure how I feel about Hagerty seemingly snapping up everything car-related they can.

Brake_L8 (Forum Supporter) said:

Interesting. I'm happy for the founders/Radwood leadership, and not sure how I feel about Hagerty seemingly snapping up everything car-related they can.

Same, they are snapping up everything. 

I mean their Facebook group couldn't get worse so that's a plus. 

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
3/9/22 10:06 a.m.

I think this is Larry Webster. He's doing a heck of a job at Hagerty. They're arguably doing more for the automotive hobby overall than just about anyone these days. 

Tom_Spangler (Forum Supporter)
Tom_Spangler (Forum Supporter) GRM+ Memberand PowerDork
3/9/22 10:16 a.m.
Brake_L8 (Forum Supporter) said:

Interesting. I'm happy for the founders/Radwood leadership, and not sure how I feel about Hagerty seemingly snapping up everything car-related they can.

Yeah, I hope this means that Brad and Art and the guys got paid. They created this thing from scratch.

I see your point about Hagerty owning everything, but they do seem to be a pretty good steward of the automotive hobby, and one I'm happy to send money to every year.

iansane
iansane GRM+ Memberand Dork
3/9/22 10:29 a.m.

Interesting. Hagerty has been doing some moves. They just opened(took over a failed?) storage and event space near me. Seems like they're trying to transition into real world interactions instead of paper and insurance.

https://www.garageandsocial.com/location/seattle/

At first I thought they were just copying another local venue that's been around for a number of years that's basically the same thing (country club for high end cars) but I guess the idea is more prolific than I realized.

I really enjoy radwood but the two events that have happened near me have really had the concours d'elegance vibe. As in, if it wasn't pristine and stock then they didn't care about it. Which is cool, but I just want to appreciate that era of car regardless of stock/modded status. 

MTechnically (Forum Supporter)
MTechnically (Forum Supporter) Reader
3/9/22 10:46 a.m.

In reply to iansane :

I definitely think that Radwood has changed quite a bit since it's inception. I went to one of their earliest events back in 2018. The first time they tagged up with LeMons at Sonoma. I actually helped haul the trophies for the event in my E34 wagon. 

It's a bit of a victim of it's own success if you liked the more relaxed grassroots feel of the early events, but I think that's to be expected when something goes from a small niche event to a nationally recognized brand. It's cool that the Radwood era cars are getting their due, and I think that they've help push the idea that collector cars should be something that you use and do things with, which I am all for.

 

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
3/9/22 10:55 a.m.

I think the rate of growth of Radwood took everyone by surprise. Turns out Bradley and co had identified a need that was much stronger than they realized.

Tom_Spangler (Forum Supporter)
Tom_Spangler (Forum Supporter) GRM+ Memberand PowerDork
3/9/22 10:57 a.m.

Brad Brownell just tweeted that he cashed out and is no longer directly involved, though he's still going to support the event in other ways. From the article, it sounds like Art will still be in there, but I'm not sure about the other DWA guys.

Obligatory pic of Radwood Detroit from a couple of years ago:

David S. Wallens
David S. Wallens Editorial Director
3/9/22 10:57 a.m.

Personally, I think Radwood and Concours d'Lemons fit together well.

Say you have an E36 BMW or similar.

Is it nice and period-correct? Radwood.

Is it a bit clapped-out? Lemons.

mslevin
mslevin GRM+ Memberand New Reader
3/9/22 11:01 a.m.

Bittersweet. I think Hagerty will do a great job growing the show, but I enjoyed Radwood the most when it was small and kinda chaotic. I went to the first ever event on a whim, and ended up winning Best in Show at their first LA show. Good times and I've made a lot of great friends and connections from their events. Looking forward to seeing what's next, and definitely hoping the founders had a good exit. 

maschinenbau
maschinenbau GRM+ Memberand UltraDork
3/9/22 11:44 a.m.

I like what Hagerty is doing, but all this has a cost that was reflected in my premiums. I switched to Grundy and saved literally half.  

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
3/9/22 12:05 p.m.

In theory, Radwood will be self-supporting at least. It was a going concern when it was sold.

I don't get the Hagerty perks, just the insurance. 

Colin Wood
Colin Wood Associate Editor
3/9/22 2:26 p.m.

I wonder how many people on the fence about going to The Amelia decided to go thanks to the inclusion of Radwood and/or Concours d'Lemons.

It might be a few, it might be a lot, but if it helps keep cornerstone events like a Concours d'Elegance alive for future generations, I'm here for it.

 

rustomatic
rustomatic Reader
3/9/22 2:28 p.m.

There's Hagerty, Holley, and whoever the hell is buying/bought Jeg's (plus Summit--no malice intended).  In a couple of years, that will be about it for the industry in terms of corporate banners.  Whatever. 

It must feel special to drive a Toyotabaru or a Stellantis (oh wait, I do that) or a VAG (oh wait, I do that, too) . . .

CrustyRedXpress
CrustyRedXpress GRM+ Memberand HalfDork
3/9/22 4:13 p.m.

I suspect Hagerty looks at these events like break-even-marketing for their core insurance business. It's not a terrible business model and they're probably pretty liquid from the IPO.

Robbie (Forum Supporter)
Robbie (Forum Supporter) GRM+ Memberand MegaDork
3/9/22 4:22 p.m.

In reply to CrustyRedXpress :

That's what I was gonna say, they've must have cash from the IPO, and need to follow up on the business plans they used to encourage growth to get the IPO in the first place.

I must say, I'm glad to see these things showing value.

BoxheadTim
BoxheadTim GRM+ Memberand MegaDork
3/9/22 4:42 p.m.

As someone with not-quite-a-degree in economics, I'm usually not that big fan of consolidation and a company making moves to become more and more of a dominant player in a niche. I'm saying this as a long time and current customer of Hagerty, BTW.

I have been wondering if this is a side effect of Hagerty going public. They'll probably have to show more growth to satisfy the market, and "buying marketshare" might help with that, and that might lead to some "buying everything halfway reasonable that's not nailed down".

adam525i
adam525i GRM+ Memberand Dork
3/9/22 6:59 p.m.
maschinenbau said:

I like what Hagerty is doing, but all this has a cost that was reflected in my premiums. I switched to Grundy and saved literally half.  

I just got my renewal with them, my premium has jumped up $100 since last year. I guess it wouldn't be insurance if you didn't feel like you were getting berkeleyed over. 

Edit: How do they justify that price increase? The insured value of my car didn't increase over last year so even though inflation is crazy right now that is not reflected in the policy unless I increase it and pay the extra premium. So basically they just added 20% just because they could. bullE36 M3.

maschinenbau
maschinenbau GRM+ Memberand UltraDork
3/9/22 8:42 p.m.

In reply to adam525i :

That's exactly what prompted me to shop around. Didn't realize how much I was getting ripped off.

Patrick
Patrick GRM+ Memberand MegaDork
3/10/22 8:37 a.m.

How long before hagerty buys GRM and CM?  

pinchvalve (Forum Supporter)
pinchvalve (Forum Supporter) GRM+ Memberand MegaDork
3/10/22 11:23 a.m.

I will say that I love Jason Camissa's YouTube stuff sponsored by Hagerty. I mean, he has covered the Lancia Delta Integrale, the 500e Mercedes and a bunch of other cars that I have dreamed about for years. 

Javelin
Javelin GRM+ Memberand MegaDork
3/15/22 5:17 p.m.
maschinenbau said:

I like what Hagerty is doing, but all this has a cost that was reflected in my premiums. I switched to Grundy and saved literally half.  

I am experiencing the same AND they don't want to cover our S4 for some reason. Not a very happy customer after 15 years...

Mike (Forum Supporter)
Mike (Forum Supporter) GRM+ Memberand UltraDork
5/26/22 1:02 a.m.

Hagerty covered my canoe.

DirtyBird222
DirtyBird222 PowerDork
5/26/22 2:11 p.m.
Javelin said:
maschinenbau said:

I like what Hagerty is doing, but all this has a cost that was reflected in my premiums. I switched to Grundy and saved literally half.  

I am experiencing the same AND they don't want to cover our S4 for some reason. Not a very happy customer after 15 years...

All Insurance companies can berk the freak off. Tower Hill here in Florida dropped me because I needed the roof on my house replaced after a hail storm. The reasoning "you're a liability" like yea duh, so is everything else on this planet. So I had to find a new insurance company that would A) Cover my house and B) replace the roof from an event prior to conracting coverage with them. USAA came through but man their auto insurance premiums are $$$$ 

DirtyBird222
DirtyBird222 PowerDork
5/26/22 2:13 p.m.

Also the Radwood facebook group is so cringe. 

It went from people posting cool pics of cars from the 80s/90s to every post being someone posting a picture of something they found in their moms basement going "is this rad?" No dude, your moms retainer case from 1989 isn't rad, it's a Petri dish for monkeypox. 

David S. Wallens
David S. Wallens Editorial Director
5/26/22 2:49 p.m.

In reply to DirtyBird222 :

I should post photos from here in my office: Is this rad? 

David S. Wallens
David S. Wallens Editorial Director
5/26/22 2:53 p.m.

Is this rad?

Brand X skateboard deck circa 1985.

David S. Wallens
David S. Wallens Editorial Director
5/26/22 2:54 p.m.

Is this rad?

ALF plush circa 1986.

David S. Wallens
David S. Wallens Editorial Director
5/26/22 2:57 p.m.

Is this rad?

Vans Sk8-Hi (circa 1985), NOS Suzue sealed BMX hubs (circa 1984, maybe), negatives from Athens Twilight Criterium (circa 1988-'92).

JG Pasterjak
JG Pasterjak Production/Art Director
5/26/22 4:28 p.m.
David S. Wallens said:

Is this rad?

Brand X skateboard deck circa 1985.

This is rad because the grab rails are installed flush with the sides. 

David S. Wallens
David S. Wallens Editorial Director
5/26/22 4:57 p.m.

In reply to JG Pasterjak :

More room for stickers.

And, yeah, never noticed that my Agent Orange has the rails just slightly inside the edges of the deck. 

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