TPEG acquires Freedom Powersports for $5 million

TPEG completed the $5 million purchase of 100% of the operating assets of two powersports dealerships. The dealerships are located in Weatherford, Texas, and Hurst, Texas and have been renamed Freedom Powersports. Freedom sells motorcycles, ATVs, UTVs, boats, personal watercraft, and other recreational vehicles. These two dealerships generated $15 million of revenue in 2012 and are expected to serve as a platform for acquisitions. TPEG believes that the management team, led by CEO Kevin Lackey, has the ability to dominate the DFW Metroplex powersports market. Trinity investors contributed $2.5 million in equity capital.