Next Sparc recently acquired a majority interest in Way Interglobal Network LLC., an RV import distributor based in Elkhart, Ind., servicing the RV OEMs.
According to a press release, Way is celebrating its 10th anniversary, distributing proprietary brands such as Everchill refrigerators, Greystone fireplaces and appliances, and Drive audio and entertainment systems, while also serving as 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. And, obviously, product innovation has been the driver of it,” says Wayne Kaylor, CEO of Way.
The launch of the 12-volt compressor refrigerator accelerated Way’s growth, the release stated. The 12-volt refrigerator allows batteries that continuously recharge with solar hookups to efficiently provide enough energy to cool the food inside.
“It really has changed the industry dynamic,” Kaylor says. “Over the last three years, we have grown from zero units to over 70,000 this year.”
With R&D and distribution offices in Elkhart, and R&D, manufacturing, and sourcing offices in Dongguan, China, Way has a unique set of research capabilities that have fueled the development of more proprietary products, according to the release. Most recently, a new line of gas ranges were 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,” indicated Kaylor. “Our new line of ranges are 25% larger, have the largest cooking capacity available, are the only ones to indicate time and temperature, have electronic ignitors for the each burner, and come with new safety features that include LEDs that indicate red when the burner is on.”
“Way has demonstrated an ability to develop and deliver innovative products and provide service to the OEM market the larger OE suppliers can’t match,” says 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.”