Top 50 distributor MadeToOrder Inc., Pleasanton, Calif., announced the formation of a wholly owned subsidiary and enters into an agreement to take on assignment from Steal One LLC for some of the personnel and intellectual property of distributor JAMS. The Steal One entity will continue for the interim as it winds down its business interests and works to satisfy vendors and clients.
As of June 1, 2013, all existing staff and executives along with a compliment of independent field sales force will assume roles within a wholly subsidiary of MadeToOrder, Jams Marketing Inc. Josh Blake, the current CEO of Steal One, will move over as executive vice president of sales for the newly configured Jams Marketing Inc. subsidiary and become a shareholder in MadeToOrder.
According to Blake, he has been looking for an opportunity to preserve his team and as much of the energized and engaged sales culture as possible while finding a partner that may be able to add some financial infrastructure and experience, allowing JAMS to convert more of its terrific revenue growth into profits. He decided that MadeToOrder was the place to be.
Barbara Brown, CEO of MadeToOrder Inc., commented that she is excited to bring some greater diversity of clients, business and young energetic sales members to the existing MadeToOrder team. Rod Brown, CFO, is charged with managing the new subsidiary into a disciplined profitable enterprise. The first time the MadeToOrder team met Blake, they were excited about his sales presence and enthusiastic to work on the opportunity to get him and his sales organization on board.
In the weeks ahead, as the assimilation of the employees and sales teams take shape, MadeToOrder anticipates that combining its experience with this young team will provide a better vendor, client and team experience for all concerned.
The company expects that the new subsidiary will add approximately $5 million in 2013 revenue to MadeToOrder’s current projected run rate of $20 million, and perhaps add as much $9 million in 2014.
MadeToOrder’s management will be reaching out to many vendors and clients over the weeks ahead as set-up and operations of the new subsidiary takes shape. Jams Marketing Inc. will continue to operate out of the existing location in Costa Mesa, Calif., while all accounting and over services will operate out of the MadeToOrder headquarters in Pleasanton, Calif.
For more information, visit www.madetoorder.com.
