Jegs High Performance
| Industry | Performance Automotive Equipment Mail Order |
|---|---|
| Founded | 1960 in Columbus, Ohio |
| Founder | Jeg Coughlin Sr. |
| Headquarters | , United States  |
Number of locations | 2 |
| Owner | Greenbriar Equity Group |
| Website | jegs.com |
JEGS High Performance is the second largest mail order company of automotive equipment in the United States. It sells performance auto parts, aftermarket accessories, tools, and race apparel. JEGS was founded by Jeg Coughlin Sr. in 1960 as a small speed shop. [1] Jeg's remained family owned and operated until 2022 when a majority stake of the company was purchased by Greenbriar Equity Group. [2] Over 60 years, JEGS has expanded to include a 250,000-square-foot (23,000 m2) warehouse, two mail order locations, retail store & Team JEGS Race Team. The company has approximately 350 employees. [3]
History
[edit]Jeg Coughlin Sr. started JEGS Automotive Inc. in 1960 in a garage near downtown Columbus, Ohio because there was no source in the Midwest to obtain high-performance auto parts to modify hot rods. As JEGS became known for their full selection, the "garage" grew into a successful company.
In 1988 when Jeg Sr.'s four sons, John, Troy, Mike, and Jeg Jr. were old enough, they bought the business from their father with his assistance, each managing a different department to maximize effectiveness. Business continued to grow, eventually Jegs debuted free 1-2 day nationwide shipping in 2005. Jegs also became a major NHRA event sponsor during this time period.
In 2018 the 4 brothers handed the company off to Jeg Jr.'s son, Jeg Coughlin III. Jeg III would go on to lead the company to a buyout by Greenbriar Equity in February 2022 for $321 million. Since 2022 Jegs has seen a slow but steady decline, going from over $400 million of revenue in 2020 to about $200 million of annual revenue in 2023. Now managed by former Credit Suisse employees, Jegs laid off most of its call center staff and all of its specialty knowledge technicians just before Christmas 2022 in an attempt to cut costs, offering them severance pay only if they would train their more cost effective replacements. Jegs has also since done away with free 1-2 day shipping, today costing $15 regardless of item weight, size or shipping time. Event sponsorships have mostly ceased post buyout. Jegs continues to race on occasion but the race shop is mostly maintained for Jeg Sr.'s children and grandchildren.
Racing
[edit]With seven NHRA World Championships, sixteen Division Championships, and well over 100 victories at the national, divisional, and local levels, Team JEGS is among the most accomplished racing entities in the 60-year history of organized drag racing.[citation needed]
John is a racer who has shifted focus to his son Cody's career in circle track racing; Cody competes in the NASCAR Camping World Truck Series and ARCA Racing Series. John's daughter, Kennedi, enjoys ice skating.
An NHRA Pro Modified Champion, Troy Sr. has joined his son Troy Jr. in a JEGS.com two-car Pro Mod effort for 2015. Troy Jr. also competes in NHRA's Sportsman Class. Troy Sr.'s daughter, Meghan, races when she can, while sisters Paige & Kelly drive Junior Dragsters.
Mike continues to find success in Sportsman Classes, plus mentors his sons Jack and Clay in drag racing and other sports.
Jeg Jr. is a six-time NHRA Champion, winning his fifth Pro Stock title in 2013 as one of drag racing's greatest drivers. His son, Jeg III, is a championship golfer in high school.
Charitable contributions
[edit]Jeg Sr., his sons, and their families created the JEGS Foundation Racing for Cancer Research program to benefit James Cancer Hospital and Richard J. Solove Research Institute at Ohio State University. With 100% of proceeds going directly to cancer research, the JEGS Foundation Racing for Cancer Research program has raised several million dollars. Team JEGS also sets up mobile cancer screening centers at NHRA weekend events to keep the topic front & center with thousands of drag racing fans.[citation needed]
The foundation's distinctive logo is a ribbon featuring the black & white motif of racing's checkered flag filled in with various cancer awareness colors. It adorns every race car and crew member uniform across the Team JEGS motorsports platform.
In June 2013 the JEGS Foundation donated $10 million to OSU's Foundation for Cancer Treatment & Research at Ohio State University Comprehensive Cancer Center in Columbus, Ohio. The new lobby of the James Cancer Hospital and Solove Research Institute was named the "JEGS Foundation Lobby" to commemorate the donation [1]
References
[edit]- Asher, John (May 22, 2009). NHRA Finals – Down to the Wire. CompetitionPlus magazine. Retrieved July 7, 2010.