A look at the company's new 34,000-square-foot manufacturing facility.DeLand, Fla.-based Intellitec Products, makers of electrical and electro-mechanical controls and monitoring systems used in a variety of applications, including the RV and marine industries, announces the successful recapitalization of the company.
The company said that new financing will allow it to purchase a 34,000-square-foot manufacturing facility that sits on nine acres, as well as allowing for buying new equipment for manufacturing, eliminating expensive debt, and providing working capital to expand engineering and marketing to aggressively grow the business.
“Our team has worked very hard to put the company in a great position to meet and exceed our customers’ current and future needs,” said Patrick O’Neill, chairman and CEO. “We have a strong business plan to aggressively grow our business in the RV, truck, bus, specialty vehicle, emergency vehicle, marine and contract manufacturing markets.”
Added Intellitec President Ned Schiff, “Our focus is to provide increased value to our customers. We have launched four new products over the past year that meet this objective. The financing will enable us to expand and increase the velocity of our new product development. We will continue to provide smarter products with more communications capabilities.”
