INDIANAPOLIS — Koronis Parts, a Paynesville, Minn., manufacturer, is seeking to build its UTV aftermarket presence with a recent acquisition.
The manufacturer purchased the brand names of Speed Industries and Beard Seats as well as all the inventory and fixture and tooling associated with those brands from Tim Sousamian, who owns RedArt Corp., said Todd Froelich, Koronis’ national sales manager. As part of the new arrangement, Sousamian will continue to work with the Speed and Beard brands through Koronis Parts, Froelich said.
The acquisition was finalized Jan. 1, but Froelich said discussions started last year. As a result, the companies were able to quickly bring to market a number of new products under the Speed and Beard brand names.