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ECD Automotive Design Inc. now is officially a public company.
Kissimmee-based Humble Imports Inc., which does business as ECD, had its first day of trading on the Nasdaq exchange on Dec. 13 under the ticker ECDA. The company restores and modifies Land Rover Defenders, Jaguars and other vehicles.
The move comes as the business combination of ECD Auto Design and special purpose acquisition company (SPAC) EF Hutton Acquisition Corp. I completed on Dec. 12. At the time the deal was announced, the transaction reflects an initial value for E.C.D. of $225 million.
Representatives with the company were not immediately available for comment.
ECD was co-founded in 2013 by Scott Wallace, Tom Humble and Elliot Humble. It has a 100,000-square-foot facility in Kissimmee called the "Rover Dome," where 90 technicians work on the one-on-one customizations.
The company also has an affiliated logistics center in England, where seven employees source vehicles for restoration. The company has completed over 500 custom-restored vehicles since it started.
ECD is the latest company in the Orlando region to go public through a SPAC merger, where the company merges with another to go public, versus an initial public offering:
- Orlando-based Abacus Life began trading on the Nasdaq exchange in July under the ticker ABL.
- Falcon's Beyond Global Inc. (Nasdaq: FBYD), an Orlando-based theme park and attraction firm, went public in October through a SPAC merger and plans to grow.
- Orlando-based Innventure LLC — a fast-track business scaler — will merge with Los Angeles-based special purpose acquisition company Learn CW (NYSE: LCW). The deal is expected to close in 2024.
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Total revenue, most recent year end
| Rank | Prior Rank | Company |
|---|---|---|
1 | 1 | L3Harris Technologies Inc. |
2 | 2 | Darden Restaurants Inc. |
3 | 3 | TopBuild Corp. |