Cleveland, OH – Next Sparc Growth Partners (“Next Sparc”), a Cleveland-based private investment group, recently announced that Lippert Components Inc. (NYSE: LCII) successfully acquired substantially all of the business assets of Next Sparc portfolio company Way Interglobal Network LLC (“Way”). Way, headquartered in Elkhart, Indiana, designs, develops, and supplies innovative appliances and electronics to the RV industry. The acquisition of Way and its Everchill and Greystone brands will add to Lippert’s Furrion line of RV appliances and electronics. The acquisition does not include Way’s current power generator assets and operations.
Next Sparc acquired a majority interest in Way in 2019, quickly partnering with the Way leadership team to identify strategic opportunities and key areas to further support business growth. Over Next Sparc’s ownership period, Way experienced significant organic growth through innovative new brand introductions and new customer wins. Throughout the partnership with Next Sparc, Way was able to augment operations and teams, create new product lines, and expand facilities to capitalize on the exceptional growth and demand for Way products in the RV industry.
“I couldn’t have picked a better partner than Next Sparc to support the significant growth of Way over the past three years. The operational tool kit and business support they provided to our management team was invaluable,” said Wayne Kaylor, CEO of Way Interglobal Network LLC. “I truly enjoyed working with Next Sparc and look forward to our continued partnership with Way’s generator business, now called Next Gen Power”.
“I’m grateful and proud of our partnership with Wayne and his management team over the past three years at Way. During that time, Way’s growth accelerated while navigating Covid and severe supply chain challenges,” said Len Pagon, Chairman & CEO of Next Sparc. “While the RV industry normalizes inventory levels in the coming year, Lippert Components was the perfect home for Way’s team to continue the momentum and market share of our Everchill and Greystone brands.”
About Next Sparc
Next Sparc is a Cleveland-based, professional family office that makes direct investments in rapidly growing founder-led and family-owned businesses. We leverage our entrepreneurial experience, operational expertise, insights from 100+ transactions since 2009, and a repeatable playbook to grow and scale companies. We accelerate growth by leveraging our deep operational experience, patient capital, and extensive resources. Next Sparc serves as a value-added partner to our businesses and seeks entrepreneurs who desire to build a scalable business and accelerate growth.
Next Sparc Growth Partners
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Chagrin Falls, OH 44022