Ace Custom Steering LLC seeks $500,000 in capital to fulfill growth potential.
COMPANY: Ace is a start up located near Nashville, TN, that
designs, manufactures, markets, and sells handcrafted, compelling
custom steering wheels and leather trim (shift knobs, brake
handles, consoles, visors, etc.) for customers who want to maintain
factory safety and functionality while customizing their ride. Ace
has fully functioning operations, customer purchase orders, strong
industry relationships, and a solid management team in place.
MANAGEMENT: Ace already has a great team in place. Founder
and CEO, Art Blanchford, is a life-long car enthusiast and 18 year
veteran of the auto industry, including president of the fastest
growing division of $7B Autoliv, Inc. (the world’s largest steering
wheel and restraints supplier) and their VP of the GM Global
Business Unit for 6.5 years where he double sales while increasing Figure 1: Patented Camaro SW Design
profit and won GM supplier of the year and served on their supplier council for 4 consecutive years. COO,
Charlie Nyhus, is also a seasoned automotive supplier executive specializing in operations and quality
systems as well as a passionate auto enthusiast who has served as president of a large international JV auto
supplier. Marketing Manager, Carlos Molina, is experienced, connected, and energetic in the specialty
equipment industry having previously been events director for Mopar and having his own tuner business.
Shirley Langohr is the best leather pattern developer and craftsman in the US having previously been
Autoliv’s lead trainer in the Americas.
MARKET & SALES: Ace targets sales to custom tuners, installation shops, OEM’s, This wheel looks
dealers, retailers, and directly to consumers in the muscle car, compact, and truck
feels even better!
market segments. With a few of these key sales channels and PO’s in place and a solid It feels like a
Internet presence, Ace has generated market enthusiasm. The automotive specialty drivers wheel and
equipment market is $30B and growing, and the custom steering wheel market is the perforated
estimated to be $200M-$500M wholesale, and there is only one direct competitor, and leather accents
match my interior
none with high standards for quality & craftsmanship.
- April Customer
FINANCIAL OUTLOOK: Adding the right growth capital, Ace projects the financial
performance seen below, which will return 15X investment at 6xEBITDA in 2015.
Figure 2: Ace Proforma Sales and Earnings
Year 2010 2011 2012 2013 2014 2015
Net Sales++ $2,639 $662,420 $4,627,896 $13,614,882 $20,226,750 $28,740,239
Taxes ($304,713) $46,183 $1,488,916 $5,231,681 $7,564,875 $10,224,889
Targeting $20M sales, with over 30% EBIT, and 100 quality manufacturing jobs in TN by 2014, as we
bring joy to our drivers, profits to our customers, good return for our investors and value to our
communities, Ace is a compelling investment and a company you can feel good about being a part of.
Ace Custom Steering LLC
1607 North Main Street TM
Mount Pleasant, TN 38474