MadeToOrder Announces Agreement With Steal One
Steal One Will Be Jams Marketing
Pleasanton, CA-based MadeToOrder (MTO) (asi/259540) has reached a deal with Steal One LLC to form an MTO subsidiary by June 1. The agreement, announced this week, will turn Steal One into Jams Marketing.
"We have been looking to grow our Southern California geographic presence and exploring new market niche opportunities," said Rod Brown, CFO at MTO. "When we had an opportunity to speak with Josh Blake, the CEO at Steal One, our discussions led to a chance to have them move into a relationship with MadeToOrder that is something slightly different from an acquisition. A majority of the Steal team joins MTO, but the existing entity is left behind to wind down."
Per the deal, Blake will become executive vice president of sales for Jams Marketing and become a shareholder in MTO. Leaders of MTO will be reaching out to many vendors and clients over the weeks ahead in preparation for the changeover. "We are under no illusion on how much work it is to integrate divergent entities and business cultures," said Brown, "but MTO believes strongly that our approach of transparency will yield the best possible outcome. We look forward to seeing what we may build together."
MTO is expecting Jams will add about $5 million in 2013 revenue to MTO's projected sales of $20 million. By 2014, Jams could add up to $9 million, according to MTO. Jams will continue to operate out of an existing location in Costa Mesa, CA, while all accounting and similar services will be provided out of MTO's office in Pleasanton.