In a strategic move to reinforce the strength and future of the industry, the world’s largest bespoke restomod company acquires the assets of Classic Recreations, expanding its product offerings and supporting existing CR customers.
Velocity, an industry leader in classic vehicle modernization, announced today its acquisition of the key assets of Classic Recreations, including its intellectual property, inventory and equipment. Velocity has also secured a letter of intent for a licensing agreement from Carroll Shelby Licensing, Inc. to continue to produce both Shelby GT500 and Shelby Cobra vehicles that will be featured in the Shelby registry.
While Velocity had no prior connection to Classic Recreations, the company’s leadership quickly responded after learning of CR’s sudden closure, which left many customers without support and a number of vehicle builds incomplete. Stepping in as a stabilizing force for the restomod industry, Velocity will leverage its robust in-house resources, vertically integrated production facility and world-class team to evaluate and propose a path forward to complete the unfinished Classic Recreations cars. Velocity will also evaluate ways to expand its offerings based on former CR platforms, including continuation Shelby models and custom Mustangs, and look to bring improved engineering, performance and quality controls to these builds.
The transaction, finalized through a court-approved bankruptcy sale, is an acquisition that reflects not distress, but a strategic opportunity. The acquisition marks the beginning of an accelerated expansion phase for Velocity. With carbon-fiber manufacturing capabilities coming in partnership with Brothers Carbon and a new licensing agreement secured with Carroll Shelby Licensing Inc., Velocity is preparing to expand its reach into parts, interiors and additional vehicle models that honor American automotive heritage.
“We’re passionate about this industry and the people who love these American vehicles,” said Velocity CEO Stuart Wilson. “When we heard what happened with Classic Recreations, our immediate thought was: how can we help? These are people who trusted a brand to bring their dream cars to life, and Velocity is in a position to keep those dreams moving forward, not just for our brand but for the entire restomod industry.”
Speaking about the transaction and the position of Carroll Shelby Licensing, Inc., Neil Cummings CEO, said “Shelby Licensing is excited to grant a license to Velocity Restorations as they acquire Classic Recreations and take on the important mission of completing every in-process Shelby GT500 and Cobra build. Velocity’s unmatched craftsmanship, resources, and passion for excellence make them the perfect steward to protect and advance the Shelby legacy for the next generation.”
Velocity will offer every existing Classic Recreations customer with an unfinished build the opportunity to transition their project to Velocity’s production system under a new agreement. All prior contracts remain the responsibility of the former entity, but Velocity’s team will begin one-on-one consultations with affected customers immediately.
For further information about Velocity, please visit www.velocityrestorations.com.
