Universal Power Group, a Texas-based distributor and supplier of batteries and related power accessories, yesterday announced that the company has entered into an agreement to acquire the brands, trademarks, and intellectual property of Kinetik, an industry leader in power for high-end car audio applications based in Toledo, Ohio, from OD Distributor, LLC.
Kinetik, well known as a pioneer in the 12-volt electronics market, has become one of the most sought-out brands amongst consumers and professionals. The company is currently the market leader for aftermarket power installations in applications such as car audio and video, low-rider trucks, performance street vehicles, and luxury applications, such as limousines. Kinetik designs and manufactures car audio and entertainment power cells which are capable of powering a broad range of aftermarket products, such as high-wattage audio systems, HID/LED and NEON lighting systems, hydraulics, air compressors, LCD screens and gaming systems. Kinetik has also had a great deal of success through efforts to educate consumers via its lifestyle marketing campaigns.
"With the acquisition of the Kinetik brand by UPG, Kinetik will now have the foundation it needs to expand into compatible cross markets while enhancing its current catalog of products. This is exactly the boost we needed to step out of the niche market and into the limelight," said Kinetik founder Shannon Harmon, who has joined UPG as Director of Kinetik Brands.
Ian Edmonds, UPG's President and Chief Executive Officer, stated, "The Kinetik brand acquisition represents another important step in the overall growth strategy for UPG and we are excited to enter this dynamic new market. The addition of the Kinetik brand enhances UPG's penetration into the automotive power accessories market through a leading brand with considerable growth opportunity, while increasing UPG's exposure to a luxury market with higher average price points. As part of UPG, the Kinetik brand will be able to leverage UPG's supply chain infrastructure and distribution channels to greatly enhance the market for Kinetik products and enable the brand to continue to lead and innovate in an arena it has developed and dominated."
For more information on Power Group, visit www.upgi.com
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