New Owners of Vectrix

A report in a powersports industry trade magazine named “Vectrix Corp.” and “Vectrix International” as the new owners of Vectrix. Not exactly.

In fact, as I previously reported, assets of the former Vectrix Corp. belong to New Vectrix LLC, which is sponsored by New York-based GH Venture Partners LLC, and EVB Technology (HK) Limited, an affiliate of Hong Kong's Gold Peak Industries (Holdings) Limited. EVB Technology in 2006 began supplying batteries to Vectrix Corp. for use in its scooters.

Bob Hedstrom of Scooterville Minnesota says he was visited last week by company officials. “They were looking for feedback from dealers to see how they can move older inventory while integrating new,” Hedstrom told me.

Vectrix Corp. filed for Chapter 11 bankruptcy in September 2009. The company entered ‘09 supplying approximately 90 dealers in the U.S. and 160 dealers worldwide.

Launched in 1996 by a group of engineers at Lockheed Martin and a former competitive sailor, Andrew McGowan, Vectrix, together with strategic partner Parker-Hannifin, invested more than $50 million and the better part of 11 years to bring a first product, the VX-1, to market in 2007.

Vectrix reportedly plans to market a three-wheeled scooter ala the Piaggio MP3 and former Italjet Scooop. I inspected the unit last year during a visit to the company’s headquarters in New Bedford, Mass.

 

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