Midwest Automotive Designs Named To 2014 Inc. 5000 List Of Fastest Growing Companies

In conjunction with the growth investment, the company hires new CEO

Midwest Automotive Designs today announced that it has received a substantial growth investment from Petra Capital Partners and its co-investors, Pegasus Capital Group and Merion Investment Partners.  In conjunction with the growth investment, the company hired industry veteran, Harry Schmink, as CEO to work alongside Founder and President, Tim Gray.  Based in Elkhart, Indiana, Midwest Automotive Designs is the industry’s leading custom luxury converter of vans and trucks and specializes in the popular Mercedes-Benz Sprinter platform.  They were recently named to the 2014 Inc. 5000 list of the fastest growing private companies in the United States and just celebrated the completion of their 3,000th unit.

Established in 2004, Midwest Automotive Designs has cultivated an outstanding name and reputation domestically and abroad. The innovative company sets the standard for van-based executive offices, RVs and livery vehicles on a variety of OEM van and truck chassis.  They offer a broad suite of custom options for corporations and university athletic teams as well as for families and individuals.  Further information is available at www.midwestautomotivedesigns.com.

Patrick Whelan, Managing Partner at Pegasus said, “We are delighted to be partnering with Harry, Tim and the entire management team to serve our OEM partners and customers with outstanding products, customer service and the attention to detail to which they have become accustomed.  We look forward to assisting the company as it continues to grow rapidly on a number of exciting fronts.”

Mr. Gray said, “I am thrilled to be partnering with Pegasus, Merion and Petra to seize the many opportunities available to us.  Our company is at a major inflection point and the resources our investors bring to the table will allow us to execute on many growth initiatives to build our brand substantially in the US and internationally.  With Harry as part of our team, we have added a manager who very successfully guided a number of companies in high-growth situations like ours.”

Mr. Schmink, who spent the last 6 years as President of DACCO, Inc., a nationwide distributor of automotive aftermarket parts, said, “I am impressed with Midwest Automotive’s growth in recent years, which results directly from their very high quality products.  The Company has an exceptional foundation in place that will enable us to accelerate our expansion. I look forward to working with Tim and everyone on the Midwest Automotive team. Together, we will continue to focus relentlessly on our customers and delivering the highest caliber products and customer service.”