This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Universal Power Group Acquires Kinetik Brand

Universal Power Group, Inc. (NYSE MKT: UPG), a Texas-based distributor and supplier of batteries and related power accessories, and a third-party logistics provider, today announced an agreement to acquire the brands, trademarks and intellectual property of Toledo, Ohio-based Kinetik, an industry leader in power for high-end car audio applications, from OD Distributor, LLC.

Kinetik is well known as a pioneer in the 12-volt electronics market and is one of the most sought-out brands amongst consumers and professionals alike. Kinetik is the market leader for aftermarket power installations in applications such as car audio and video, low-rider trucks, performance street vehicles and luxury applications including limousines. Through its efforts to educate consumers via lifestyle marketing campaigns, Kinetik designs and builds 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. These types of enhanced audio and entertainment systems demand higher power output than most factory-installed power systems are capable of delivering.

“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,” stated Kinetik founder Shannon Harmon, who has joined UPG as Director of Kinetik Brands.

Ian Edmonds, UPG’s President and Chief Executive Officer, commented: “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.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,013.00 -26.49 -0.16%
S&P 500 1,990.26 -2.11 -0.11%
NASDAQ 4,538.3890 +6.2850 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs