ELK GROVE VILLAGE, Ill. – Penray has sold its JetGo Automotive Chemicals brand to Miami-based TopGuard. Headquartered in Elk Grove Village, Ill., Penray is a producer of cooling system treatments, fuel treatments and shop chemicals that maximize performance and help extend vehicle life.

The deal was announced yesterday by Randy Fowler, vice president of sales and marketing for Penray, and Ralph Lorenzo, president of TopGuard.

“We would all like to congratulate TopGuard on their purchase of the JetGo line,” said Fowler. “They are a quality company with high aspirations and similar growth goals to Penray, so we are excited about the opportunity to help them grow even further with JetGo. Ralph Lorenzo has been a loyal Penray customer for many years and together we worked out a mutually beneficial agreement based on a solid foundation of trust and a clear understanding of the future goals of both companies.”

The sale of the JetGo brand allows Penray to consolidate its sales and marketing efforts into its other well-known brands, including Penray Performance, Pencool, Need-Release and Super-X.

“JetGo sales have grown steadily in the Caribbean, Central and South American markets, and TopGuard is looking to grow its chemical distribution into those markets,” continued Fowler. “With the purchase of JetGo, TopGuard will be able to enhance its sales efforts in the Caribbean, Central and South American markets while Penray continues to supply the products and support TopGuard’s sales and marketing efforts.”

“We have had a tremendous relationship for many years with Penray and we look forward to that partnership continuing with our purchase of JetGo,” said Lorenzo. “Penray has done an excellent job of growing the JetGo brand over the years and we look forward to building upon that success and providing our customers with a great quality line of JetGo products.”