Express Auto Delivery Announces Expansion Plans; Attracts Investment Partners
CEDAR RAPIDS, IA—DECEMBER 12, 2007—Express Auto Delivery, the nation’s fastest growing provider of auto shipping services, and an EDC client, is announcing a business expansion fueled by a major capital investment partnership. Express Auto Delivery provides logistics management services in the automotive vehicle shipping marketplace, working with new and used car dealerships, eBay Motors buyers and sellers, public and private organizations, US military personnel, and consumers.
The investment partnership includes a pool of investment dollars between Iowa Farm Bureau Federation and the Iowa Seed Fund, LLC, a Cedar Rapids-based community seed fund. The capital investment will allow Express Auto Delivery to fully lever its proven logistics model and execute its high-growth expansion plans. Expansion plans include hiring additional staff, accelerating its nationwide marketing campaign efforts, and scaling its operations to better serve its rapidly increasing customer base.
Express Auto Delivery is a client of the Entrepreneurial Development Center (EDC), a not-for-profit business accelerator, which mentors entrepreneurs and has relationships with various funding sources. “We have seen Kirk Taylor [founder] and Express Auto Delivery grow phenomenally over the past two years. He has a great business model founded on excellent customer care, and we were happy to help him secure these funds to accelerate their growth,” said Curtis Nelson, President & CEO of the EDC.
Kirk Taylor, Founder, President, and CEO of Express Auto Delivery, is equally as pleased, “This investment is validation of our high-growth, high-touch service model in a highly fragmented marketplace. It represents an exciting opportunity to provide even greater dedication to our growing number of customers.”
As a founder of LimoLink, Taylor helped develop the business model for one of the world’s largest suppliers of ground transportation services.
Taylor continued, “Iowa Farm Bureau Federation and Iowa Seed Fund are a great match for us. They understand the competitive edge we have established with our service and proprietary logistics management platform. Their investments will allow us to hire additional staff and scale our operation to more quickly and efficiently tackle the enormous opportunity that stands before us.”
Dave Sengpiel, Senior Investment Manager for Iowa Farm Bureau Federation, commented, “We believe Kirk and his management team will continue its successful growth pattern. Iowa Farm Bureau Federation is pleased to support Express Auto Delivery and the new ecomic growth opportunity they represent to Iowa and the Cedar Rapids area.”
In less than two years, Express Auto delivery has grown its downtown Cedar Rapids employee base from one to 53. With the additional funding, it expects to grow to 100 employees by third quarter, 2008. Earlier this year, the company moved to a 17,000 square foot office facility in downtown Cedar Rapids, which has the capacity to house over 150 employees.
About Express Auto Delivery
Express Auto Delivery is the nation’s fastest growing non-asset based 3PL (third party logistics) provider focused on the auto shipping marketplace. Express Auto Delivery’s dedication to quality, speed of service, as well as its proprietary logistics management platform allow it to better serve new and used car dealerships, auto transporters, private and public organizations, and consumers who need to ship cars to and from any point in the US. For more information about Express Auto Delivery visit www.expressautodelivery.com.
About the Entrepreneurial Development Center
The Entrepreneurial Development Center, Inc. was incorporated in 2003 as a community-sponsored, non-profit business accelerator. The company provides economic growth through the development and expansion of entrepreneurial enterprises and has successfully assisted over 300 Iowa-headquartered businesses. Its focus is on creating local wealth for area re-investment by growing and cultivating regional, national, and international businesses. In 2006, the EDC expanded its reach to rural Iowa businesses through the Iowa Farm Bureau Federation’s Renew Rural Iowa initiative. For more information, visit www.edcinc.org.
About Iowa Seed Fund, LLC
Iowa Seed Fund, LLC is a Qualified Community Seed Fund as defined by the State of Iowa. The fund’s primary purpose is to provide very early stage investment capital to new Iowa interstate commerce business opportunities.
