Signal Ventures buys Flex-Trax and its ‘GoClaws’ brand

By Liz White, UT staffRainsville, Alabama-Signal Ventures Inc. has bought the assets of polyurethane tyre accessory maker Flex-Trax Inc. of Bristol, Tennessee, in a deal which took effect 9 March 2005. The venture capital group did not reveal any financial details.Signal Ventures also owns Urethane Supply Co., an automotive plastics supply company based in Rainsville. Flex-Trax introduced GoClaws, a tyre accessory designed for giving better trac tion in tough driving conditions for both highway and off-road use, in late 2004. This polyurethane-based traction device is designed to fit a range of tyres from cars to tractor-trailer vehicle types. The device prevents vehicles getting stuck in heavy snow, mud or sand and also provides improved safety in hazardous conditions.The deal means that "we now offer greater support to the automotive aftermarket industry by utilising our more than 25 years of urethane scientific and technical knowledge and experience," said Kurt Lammon, president of Signal Ventures, in a company statement. "This background is the ideal formula for our strategic growth plans for both the auto collision and the auto accessory businesses based on advanced plastics," Lammon added. Urethane Supply Co. offers body shop products for repairing and refinishing damaged plastic on cars, trucks, ATVs, motorcycles, airplanes, boats and other vehicles. The firm was set up in 1981 and bought by Signal Ventures ten years ago. "