Compiled by SEMA Editors
Evergreen Cooperatives' Fund Acquires Assets of LED Accessory Producer Intellitronix
Evergreen Cooperatives—an internationally recognized nonprofit focused on revitalizing urban neighborhoods by preserving jobs that build middle-class wealth—has added to its growing portfolio of employee-owned businesses with the asset purchase of Intellitronix—a producer of LED automotive aftermarket digital and analog gauges. Terms of the deal were not released.
Intellitronix, a wholly owned subsidiary of the US Lighting Group, manufactures microprocessor-controlled LED products, energy-saving devices designed for the automotive electronic, marine and recreational vehicle markets. The company produces a wide range of automotive electronics, accessories and digital gauges sold and distributed internationally. All products are made in the USA at its own manufacturing facility near Cleveland, Ohio. The transaction benefits the remaining subsidiaries of the U.S. Lighting Group, which will now have additional capital to focus on new business opportunities, fuel growth, save existing jobs and ensure that manufacturing operations of those companies can remain in the Cleveland area.
Tri-State Enterprises Adds New Facility
Tri-State Enterprises, a wholesale distributor of automotive parts, automotive paint, mobile audio/electronics, and truck accessories, has announced the addition of a 492,000-sq.-ft. warehouse in Arlington, Texas. This will be the largest facility for Tri-State Enterprises. The general manager will be Junior Calvert, who has more than 30 years of industry experience. The assistant general manager will be Scott Covelli, who has 25 years of experience. Along with this new building, Tri-State is adding new technologies to increase efficiencies and expanding its current line offerings.
Steve Reed Joins RWB as Wiseco Powersports Brand Manager
Race Winning Brands (RWB) has announced industry veteran Steve Reed as the powersports brand manager for Wiseco Performance Products. In his new position, Reed will play a vital role in developing existing initiatives and supporting Wiseco powersports growth through product management and development, business platform and partnership support, marketing initiatives and direct customer visits.
Reed comes to RWB with more than 22 years of experience in the powersports aftermarket. Reed has been driven by a passion for riding and racing dirt bikes since he was young, and began his powersports career in distribution before moving on to inside and international sales. Reed most recently gained experience in portfolio management for Tucker Rocky Distributing, where he managed 150+ brands within powersports distribution, being directly involved in consecutive off-road product portfolio launches while simultaneously maintaining long-established relationships. In related news, 2021 marks the 80th anniversary of Wiseco Performance Products.
WyoTech School Announces Growth Following New Ownership
WyoTech, the Laramie, Wyoming-based diesel- and automotive-related training school, has announced an increase in student enrollment following the purchase by WyoTech diesel alumnus Jim Mathis in 2018. When Mathis led the purchase of WyoTech in July 2018, the school had 12 students. Now, WyoTech boasts nearly 500 students from all 50 states and expects to have more than 1,000 by 2023, according to school officials. After the state of Wyoming approached him for the purchase in early 2018, Mathis announced plans to reinvigorate the school that gave him an excellent education and training. For more information, visit wyotech.edu.
Have some company news you would like to share? Let us know and the news may appear in an upcoming issue of SEMA eNews. Send your items for consideration to firstname.lastname@example.org.