KISSIMMEE, Fla., April 4,
2024 /PRNewswire/ -- ECD Auto Design (Nasdaq:ECDA)
("ECD" or the "Company"), the world's largest Land Rover and
Jaguar restoration company known for its custom luxury builds,
including bespoke Defenders, Range Rovers and Jaguar E-Types
announced today that it has signed an agreement to acquire certain
assets from Brand New Muscle Car, a premier builder of classic
American muscle cars for restricted stock of ECD to be valued at
$1.5 million on the date of
issuance.
Brand New Muscle Car, founded in 2005 and headquartered in
Broken Arrow, OK, is the original,
from scratch restorer of classic American muscle cars designed with
new parts just as the customer wants it.
Scott Wallace, CEO of ECD Auto
Design said, "We are excited to announce our first acquisition as a
publicly traded company. This acquisition provides our company,
founded by a group of British friends, an entry point to design and
sell bespoke classic Ford Mustangs, among several other classic
American muscle cars in a US manufacturing plant with US employees.
Our 100,000 square foot Orlando,
Florida manufacturing facility has the ability to add a
production line to our existing manufacturing footprint. By
acquiring Brand New Muscle Car, we will have the opportunity to
design and build one-of-one classic Mustangs through our unique and
industry-leading client design process, which are some of the most
sought after restomod opportunities in the United States.
"Our vision at ECD is to tap into the greater than $15 billion market ecosystem for high end and
collectible cars. Today, we are a leading retrofitter of classic
British luxury cars, but we aspire to build and sell additional
makes and models that are also in high demand. There is a growing
appetite among the ultra-high net worth population who desire
one-of-a-kind products and experiences and ECD has expanded that
capability into the classic American car market."
About ECD Auto Design
ECD, a public company trading under ECDA on the Nasdaq, is a
creator of restored luxury vehicles that combines classic English
beauty with modern performance. Currently, ECD restores Land Rovers
Defenders, Land Rover Series IIA, the Range Rover Classic and the
Jaguar E-Type. Each vehicle produced by ECD is fully bespoke, a
one-off that is designed by the client through an immersive luxury
design experience and hand-built from the ground up in 2,200 hours
by master-certified Automotive Service Excellence ("ASE")
craftsmen. The company was founded in 2013 by three British "gear
heads' whose passion for classic vehicles is the driving force
behind exceptionally high standards for quality, custom luxury
vehicles. ECD's global headquarters, known as the "Rover Dome," is
a 100,000-square-foot facility located in Kissimmee, Florida that is home to 90 talented
craftsmen and technicians, who hold a combined 61 ASE and five
master level certifications. ECD has an affiliated logistics center
in the U.K. where its seven employees work to source and transport
25-year-old work vehicles back to the U.S. for restoration. For
more information, visit www.ecdautodesign.com.
Investor Contact:
Brian M.
Prenoveau, CFA
MZ Group – MZ North America
ECDA@mzgroup.us
+561 489 5315
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SOURCE ECD Automotive Design