Compiled by SEMA Editors
Wade Kawasaki Promoted to President and COO of Coker Group
Wade Kawasaki has been promoted from executive vice president to president and chief operating officer of the Coker Group. In his new role, Kawasaki will oversee all Coker Group brands and the six operating companies, including overall corporate infrastructure, strategic planning, acquisitions and business development. He will be based out of corporate headquarters in Chattanooga, Tennessee, and also travel to and maintain his office in the company's new West Coast headquarters in City of Industry, California.
“We are very pleased that Wade has agreed to take this new leadership position,” said Corky Coker, CEO. “Wade’s 30-plus years of high-level business experience in the automotive aftermarket (both in the United States and abroad) will help us continue to build our global presence as we continue to accelerate the growth of the Coker Group. I am very excited about Wade’s new appointment, which will allow me to focus on many things I want to do for our company and with my family.”
Coker will remain as the chief executive officer, and Kevin Loveday will continue as chief financial officer, rounding out the executive team for the Coker Group.
Kawasaki has been honored with several industry awards, including SEMA's Person of the Year, SEMA’s Chairman’s Service Award and SEMA’s Young Executive of the Year. He recently received the SBN’s Athena Award and was inducted into the SEMA Hall of Fame in 2013. Additionally, he has been elected or appointed to key SEMA posts, including three consecutive terms on the SEMA Board of Directors, two consecutive terms as SEMA secretary/treasurer and two consecutive terms as chairman of the SEMA Show Committee.
Champion Oil Announces Tsengeg Orkhon as New Master Warehouse Distributor in Mongolia
Champion Oil has announced that Tsengeg Orkhon Co Ltd. is its exclusive warehouse distributor in Mongolia. Tsengeg is a recognized leader in gold and silver mining as well as in the distribution of commercial and industrial lubricants. Champion products will be offered in a number of categories, such as motor oils, transmission fluids, hydraulic fluids, coolant, diesel motor oil, differentials lubes, greases, power steering fluids, brake fluids and automotive chemicals and additives. Tsengeg now promotes the “Purpose-Built” line of Champion motor oils, chemicals and lubricants.
“Tsengeg clearly fits the stringent criteria we identified to disseminate our motor oil, chemical, additive and lubricant line in key demographics, applications, and strategic global markets,” said Karl Dedolph, director of international sales for Champion.
The Monroe Brakes “Trust the Pros BENEFITS” program runs through May 31, 2014.
New Monroe Brakes Promotion Offers Sales Rewards
Tenneco’s Monroe Brakes brand will reward counterpeople, jobber salespeople and warehouse distributors with a prepaid card for every Monroe Brakes Total Solution, Monroe ProSolution and Monroe Severe Solution brake pad set sold during the “Trust the Pros BENEFITS” program, running now through May 31, 2014.
The Monroe Brakes “Trust the Pros BENEFITS” promotion will offer a $2 spiff for each qualifying sale of Monroe Total Solution and Monroe Severe Solution brake pad set sold and a $1 spiff for each qualifying sale of Monroe ProSolution brake pad set sold. Total award dollars are calculated from total program sales and delivered on one prepaid card at the end of the program. Completed scorecards and copies of sales invoices must be postmarked and mailed to Monroe Brakes promotional headquarters no later than June 16, 2014. A minimum of 25 brake pad sets must be sold to qualify. There is a maximum $500 redemption per participant.
Fox Factory Holding Corp. Closes Sport Truck USA Asset Purchase
Fox Factory Holding Corp. has closed its previously announced asset purchase of Sport Truck USA. Fox acquired the assets of Sport Truck for approximately $43 million, including approximately $1 million of estimated closing adjustments. The transaction was financed with debt and includes a potential earn-out opportunity of up to a maximum of $29.3 million payable over the next three years, contingent upon the achievement of certain performance-based financial targets.
Lund International Acquires the Assets of AMP Research
Lund International Holding Co., a portfolio company of Highlander Partners L.P., has acquired all of the operating assets of AMP Research. Lund will continue to use the trademarked POWERSTEP, BEDSTEP, BEDSTEP2 and BEDXTENDER HD product names included in AMP’s Innovation in Motion product lines. The current Tustin, California, location will continue to be the primary manufacturing facility, and AMP’s current workforce will join the Lund International team.
Mitch Fogle, president of Lund, said, “This acquisition reinforces Lund’s emerging position as the leader in the running board and nerf bar categories, in which we offer the broadest product lineup in the industry with a track record of introducing innovative new designs.”
VOXX Electronics Concludes Best Remote Start Promo in Company’s History
VOXX Electronics Corp. has announced the winners of its Remote Start promotion that ran from November 1, 2013, to February 28, 2014. The promotion included more than $35,000 in prizes starting with a grand prize of a KLIPSCH Palladium P-39F home theater. To ensure everyone came home a winner, the company expanded the prizes and will be sending a pair of KLIPSCH S3m in-ear headphones to every installer and salesperson who submitted an entry.
Every remote start or remote start/security system in the Code Alarm, Prestige, Pursuit and Panther brands sold by an authorized dealer was eligible for inclusion in the promo and both the salesperson and the installer had a chance to win for every system sold. The most registered system was the Code Alarm CA4053 followed by the Pursuit PRO9056C. In all, three of the top five systems registered were Code branded. The Midwest and East Cost had the largest number of entries.
The grand prize winner of the KLIPSCH Palladium P-39F home theater—a $31,500 retail value—was Jared Cohen, Auto Action Group, Kenilworth, New Jersey. Second-place winner of the KLIPSCH GALLERY G-28 home theater—a $2,949 retail value—was Mark McCormick, Micorp, Auburn, Massachusetts. Third-place winner of the KLIPSCH Gallery G-42 sound bar—a $699 retail value—was Tony Horton, Enormis Mobile Specialties, Erie, Pennsylvania.