Company hatched through Peoria NEXT program acquired by IPICO Inc.
By Steve Tarter
of the Journal Star
Posted Nov 24, 2008 @ 09:15 PM

PEORIA -
The Mercury Sports Group, a start-up company that developed new ways of keeping time for various sports events, has been acquired by Canada-based IPICO Inc., a supplier of radio frequency identification equipment.

Mercury, one of the first companies hatched through the Peoria NEXT initiative in 2003, has been an IPICO distributor for over a year.

"We have worked closely with Mercury over the last two years and this was a natural step and tremendous opportunity to acquire a complementary distribution business and continue to grow and expand our sports timekeeping solutions to more markets and countries around the world," said IPICO President and CEO Gordon Westwater in a prepared statement.

Mercury offices will remain in Downtown Peoria, said co-founder and President Phil Lockwood. "IPICO's sports activity division will be managed out of Peoria. We plan to stay where we are," he said.

IPICO's presence will allow Mercury to put more focus on different market segments such as sports clubs, schools and major events, said Lockwood.

"We look for significant sales growth in 2009," he said.

Mercury's updated timing system has been used at the state cross country meet held every year at Peoria's Detweiller Park as well as a growing number of countries around the world, said Lockwood. "We've shipped product to 22 countries. We're seeing lots of growth in Europe and Latin America," he said.

Mercury is also looking at market opportunities in the Pacific region. "There are a lot of active spots in Australia, New Zealand and Japan. We're also hoping that the Beijing Olympics will whet China's appetite for sports," he said.

But Lockwood, the race director for the Steamboat Festival for the past 15 years, isn't just focused on runners. Mercury also plans to expand into timing other sports such as cycling and cross-country skiing, he said.

Along with vice presidents Jerry Riebling and Glenn Latimer, Lockwood plans to continue traveling extensively for the company. "Travel is part of the job for some of us," he said.
The economic downturn touched the company in October when a major Chicago-based investor pulled its investment in the firm, said Lockwood. However, he added that along with the IPICO move, things are looking up. "We're talking to customers all over the world and they're seeing things that indicate (the economy) will be picking up soon," he said.

The Mercury staff at the company's 311 SW Water St. offices consists of seven full-time employees, one part-timer and a contract employee, said Lockwood. While not looking for any immediate expansion of staff, Lockwood said he expects to add employees "as the business grows."