Plano, TX (PRWEB) March 26, 2014
Over the last five years, Source Network Sales and Marketing and ACT Industries (“Source”) developed its LIFESMART brand into a leader in the infrared heater, hot tub, spa and sauna market. With a staff of 20 employees in Plano, Texas, the company has earned significant market share in every category. In May of 2013, Source partnered with Transition Capital Partners (“TCP”), a private equity firm in Dallas, Texas, to move the company forward and achieve even greater success both in the US and abroad.
Brian Woods, CEO of Source, says, “TCP really saw the potential in Source, from our extraordinary team to our superior line of products. They have made significant investments in the Company to help us grow our business.” Those investments have included product development, customer service, and product service and support. “Additionally, we will be moving to a new, larger and upgraded facility in Plano, Texas, in April of this year,” adds Woods.
Source has also recently opened a company-owned-and-operated Asian Sourcing Office in mainland China. “Our company is aggressively taking products and product development to the next level,” explains Woods. “You will see innovative ideas developed into innovative products, and along with heaters, hot tubs and saunas, we will be entering into the fireplace and media center industry which will be one of our main focus points for 2014 and 2015.”
Finally, along with investment and growth comes welcome change. In 2014, the company will be known as LIFESMARTCORP. The LIFESMART name has considerable equity and “life” will be emphasized in all aspects of the company. LIFESMART's agencies have developed a family of brands under the new LIFESMARTCORP flagship that will allow them to effectively merchandise all retail channels and develop new product categories: LIFESMART, LIFESMARTLUX, LIFESMARTPRO and LIFESMARTZONE. “The new names represent a whole new era for our company," Woods enthuses. “They represent marketing this new opportunity to a new level that is all about our vendors, our products, our retail partners and very much all about our end users—the consumer.