Simi Valley, CA (PRWEB) January 11, 2007
Turbonetics Inc. announced today that it has been acquired by Edgewater Capital Partners to become the group's cornerstone company in the automotive aftermarket. The purchase agreement was formalized and signed on December 13th, 2006, with the final transaction taking place January 8th.
"This acquisition is very exciting to everyone here at Turbonetics," stated newly appointed President Brad Lewis. "Edgewater's focus on growing our business and improving service to our customers with new and technologically advanced products, gives us a clear market advantage. We are thrilled to have Edgewater's support to continue our nearly three decades of forced induction experience to the automotive aftermarket."
Determined to grow the company through new product development, Edgewater has made it clear that full engineering efforts will be made to continue to bring Turbonetics customers the highest performance forced induction products possible. Edgewater's support and technological interests will allow Turbonetics to concentrate on developing exciting new opportunities without limiting any current core business. Turbonetics Inc. has made several other acquisitions on its own over the past few years, beginning with an industrial diesel division in 2000, Spearco in 2001, and then F-MAX later in 2003. The industrial division consists of diesel regulators for large frame OE natural gas and diesel engines. Spearco, a company specializing in heat exchanger and intercooler products, along with F-MAX a turbo "kit" company, has allowed Turbonetics to expand all product lines to deliver a complete range of forced induction components to consumers.
Turbonetics new CEO Joe Hige, formerly of Detroit Locker announced, "Turbonetics is the perfect company to secure our foundation in the automotive aftermarket. We feel very lucky to have the chance to work with a company with such a rich history of success and customer satisfaction. Turbonetics products are hailed as the industry leader in both performance and quality and we look to build upon that reputation for many years to come."
For nearly three decades, Turbonetics has been a leading source for turbochargers, heat exchangers, controls and related forced induction performance items. Today, Turbonetics manufactures turbo and intercooler products for gasoline as well as diesel passenger and industrial applications. It is Turbonetics mission to produce the highest quality performance forced induction systems, components and accessories, resulting in unsurpassed customer satisfaction and leading edge technology, based on a proven history of engineering and racing experience. All Turbonetics products are backed by a one year, no-fault / no-hassle warranty. For more information and the name of the nearest distributor, you can contact Turbonetics at (805) 581-0333 or visit http://www.TurboneticsInc.com.