Avidworx is Sold

Marcel Newell, the entrepreneur who launched the Avidworx retail display maker that became a mainstay among 12 volt retailers, confirmed he has sold the company to an unnamed buyer.

Businessworx, the business/marketing software offshoot of Avidworx has also been sold to a separate unnamed buyer, a franchise company that is not a member of the 12 volt industry.  Newell will continue to support his current 12 volt Businessworx accounts, he said, noting, “The new purchasers are very aggressive. They’ll be adding new features to it.”

Newell is under a non-disclosure agreement with the buyer of Avidworx and would not name the company.  While the new owner is adjusting to the market, Newell will handle all warranty issues, he said.

“I think everyone will be very pleased with the new owner.  We’ve passed the torch to someone who will do a great job,” said Newell of Avidworx.

The Avidworx website is shut down. The Businessworx.com site is active, but to access the company through the site’s contact page, requires a user name and password. We are uncertain if this was always the case.

Avidworx had serviced well over 1,000 retail stores since launching in 2003. It was growing in revenue at the time it was sold, with sales approaching $4 million annually, Newell said.

The company launched a new M3 line of retail display in mid 2015, which sold to 265 stores within the first 5 months.

Newell said, “Our growth and success over the last year, was in a large part because of Sergio,” referring to Sergio De Oliveira, who became Director of Business Development in April 2017.

For his part, Newell is pursuing a passion in coaching companies and is consulting for businesses in the Vancouver, BC area.  His clients are not in the car audio business, although Newell remains open to coaching 12 volt companies.

“I wanted to make a change; there was an offer to me and that’s what I’m doing,” Newell said.