SOURCE: Vision Investments

Vision Investments

November 02, 2016 09:30 ET

Vision Investments, LLC Announces the Acquisition of Palm Beach Motoring Group

LAS VEGAS, NV--(Marketwired - November 02, 2016) - Vision Investments, LLC, is pleased to announce the acquisition of Palm Beach Motoring Group. PBMG stocks thousands of car care products on site from more than 150 companies including its own brands: Pinnacle Natural Brilliance, Pinnacle Black Label Collection, Wolfgang Concours Series, Speed Master, The Belt, BLACKFIRE, McKee's 37, McKee's RV, and Marine 31. The company provides quality products for distributors, detailing professionals and auto enthusiasts. PBMG has a family of websites including Autogeek.com and Autopia-carcare.com that are high transaction ecommerce sites and leading sources of instructional detailing guides, forums and videos.

The new entity will operate under Palm Beach Motoring Group and is now a wholly owned subsidiary of Vision Investments. PBMG is a high growth company and has achieved great success in past years. Customers will continue to receive the same high quality products, excellent customer service and education which they have come to expect and value from PBMG.

Vision Investments owner Tony George first met PBMG owner Bob McKee at the SEMA Show in 2009. Their relationship has further strengthened through the years including Autogeek's involvement with Ed Carpenter Racing during the 2016 season. "I've admired Bob's ability to grow the business and build strong relationships throughout the industry. He's built a quality organization made up of proud brand ambassadors." The timing of the acquisition was strategic for both parties; Mr. George was looking to grow his auto-related portfolio (Vision is the exclusive US importer of the German SONAX car care brand), and Mr. McKee was looking to transition out of a business owner role.

Mr. McKee will remain in the industry focusing on the continued development of the McKee's 37 and McKee's RV brands. Terry Angstadt has been appointed Managing Consultant of PBMG. "I'm looking forward to the further development of this group of brands and activities," said Mr. Angstadt. "There is a strong and experienced team in place including Meghan Poirier, Jason Sierra, Mike Phillips and Nick Rutter. There are exciting things going on at PBMG -- including the second season of their television series 'Competition Ready.'" Mr. Angstadt's background includes tenures at the Indianapolis Motor Speedway as Vice President of Marketing and at INDYCAR as President of its commercial division.

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