Elkhart, Indiana— Midwest Automotive Designs recently completed a transaction with three investor groups, Merion Investment Partners, Petra Capital, and Pegasus Capital, which will allow the builder to move to a larger facility so it can increase its production of its signature Mercedes-Benz Sprinters as well as grow the product line in the near future. Midwest President Tim Gray released the news in a letter to the industry.
“Thanks to a high demand for modified Sprinters (and our role as one of the first approved Mercedes-Benz Upfitters), Midwest Automotive Designs grew quickly these last 12+ years—over 25 percent each year—which required more of my time, and we rapidly outgrew our production facility” he says.
“It is also important to note that while we have created a board of directors who will collectively move the company forward, I will continue to play a hands-on active role as president and will continue to be the largest shareholder,” he says. “My vision for Midwest hasn’t changed; it’s simply grown to a level where our employees, suppliers, and customers can now all further benefit from the financial and professional advantages that my new partners bring to the Midwest team. Most importantly, you have my personal assurance that Midwest will continue to provide the highest level of quality and service that our customers and dealers have enjoyed during our 12-year history.”
Visit midwestautomotivedesigns.com for more information.