A group of U.S. Army veterans has acquired the iconic Mustang Seats brand from VC firm Monomoy Capital Partners for an undisclosed amount. Known for high-quality motorcycle seats, Mustang was founded by Al Simmons and named after his favorite warbird, the P-51 Mustang in 1980. Operating from a historic old mill, Mustang employs 85 people at its Three Rivers, Massachusetts, manufacturing facility.
"Mustang Seats presents a tremendous opportunity for us at LDR," said William Brame, partner at LDR and co-head of its acquisition business. LDR, founded in 2011 by three US Army officers, is a private investment firm focused on acquiring and growing unique, cash flow generating businesses in the manufacturing, industrial products, and transportation sectors. "Our unique approach is in providing growing companies the resources they need to continue to expand while identifying areas for new value creation. We'll invest in people, technology, and the machinery the company needs to help deliver the iconic Mustang Seats to motorcycle riders looking for our products domestically and internationally."
He adds LDR intends to keep Mustang’s operations in its current primary location as it adds manufacturing technology, production capacity and marketing capabilities to the organization. The company has added nearly 20 employees since September of 2021 and the new owners anticipate hiring additional resources in the coming months to accomplish their goals.
"We believe in Mustang's product, in its people and in the strength of the motorcycle accessory market," continued Brame. "Our leadership is excited about entrenching ourselves in this company and in the riding community. We look forward to meeting our loyal customers and partners at rallies and events this year.”
"The leadership and employees here at Mustang couldn't be happier about the news," claims Mustang GM Mike Cornelius. "The additional investment from LDR will help us take the next step forward. Our orders show that riders want Mustang Seats and our team is excited to continue to deliver them to our loyal dealers and customers."
