|By Marketwired .||
|August 15, 2013 05:50 AM EDT||
DALLAS, TX -- (Marketwired) -- 08/15/13 -- ProTek Capital, Inc. (OTC PINK: PRPM) ("ProTek") today announced entering into a Letter of Intent (LOI) agreement to acquire APT Group, Inc. (APT), a manufacturer and distributor of technologically advanced, environmentally friendly utility and power-sports products.
APT Group, Inc. ("APT") is a Missouri registered corporation headquartered in Kansas City, MO and the holding company for the MotoVox® product line and SmartCarb® patented carburetor technology lines.
MotoVox® has become the fastest growing brand of small power-sport products in the world within its consumer price point of between $350 and $1,000. Founded in 2010, APT's MotoVox® sales began in 2011, ending the year with nearly $6 million in revenue. In 2012, APT sold over 55,000 MotoVox® units, at an average price point of $350 per unit, through the major national "big box" and regional retailers. In 2012, MotoVox® sales volume more than doubled and management anticipates continued sales growth and market penetration in both the USA and overseas. 2013 will be a transition year for MotoVox® as management fortifies the Company's already well-established foundation to capture dominating market share and establish the MotoVox® brand as a household name.
In addition to core sales of the MotoVox® product line, the company holds patents for the SmartCarb® technology. The SmartCarb® is the culmination of more than 45 years of development of the single-circuit flat slide carburetor. The SmartCarb® combines all of the best features found in earlier flat slide, variable venturi carburetor designs. The environmentally friendly ('Green') design is a real world solution to satisfying a variety of emissions regulations and OEM performance requirements in small engine applications.
The APT management and engineering team brings over 100 years of experience in finance, legal, marketing, and product development.
ProTek Capital has historically concentrated on acquiring a portfolio of unique and promising, high-growth potential companies. The portfolio industry focus has changed and evolved over time and the MotoVox® acquisition would represent the next evolutionary step into the burgeoning market for low cost, high efficiency "greener" power-train systems.
The two companies plan to release additional information surrounding the planned acquisition to include more about the current and future APT operations.
For additional information contact:
ProTek Capital, Inc.
Email Contact email@example.com