Next Sparc recently acquired a majority interest in Way Interglobal Network, an RV import distributor alternative to larger suppliers located in Elkhart, Ind., servicing the RV OEMs. A purchase price was not disclosed.
Way Interglobal distributes proprietary brands such as Everchill refrigerators, Greystone fireplaces and appliances, and Drive audio and entertainment systems, and is an authorized distributor of LG Appliances, Hisense TVs and Appliances, and RCA TVs.
“Over the course of 10 years, we’ve grown exponentially with 20-plus percent growth the last three years,” said Wayne Kaylor, CEO of Way Interglobal. “And, obviously, product innovation has been the driver of it.”
Way Interglobal has R&D and distribution offices in Elkhart, and R&D, manufacturing, and sourcing offices in Dongguan, China. Most recently, a new line of gas ranges was introduced with eight patents pending, and a new generation of the product to be introduced in the fourth quarter of this year.
“RV buyers are looking for residential features in their home away from home,” said Kaylor. “Our new line of ranges are 25 percent larger, have the largest cooking capacity available, are the only ones to indicate time and temperature, have electronic ignitors for each burner, and come with new safety features that include LEDs that indicate red when the burner is on.”
“Way has demonstrated an unparalleled ability to develop and deliver innovative products and provide service to the OEM market the larger OE suppliers can’t match,” said Len Pagon, chairman and CEO of Next Sparc. “We have already established a new, expanded banking relationship and working capital line to support their innovation capabilities and support future growth. Next Sparc is excited, and we see significant opportunity, to partner with Kaylor and a very seasoned Way leadership team continue growth through innovation and build a scalable, world class infrastructure.”