Andry Specialty Vehicles: Fuel for Growth

Abstract

Founded in 1988, Andry Specialty Vehicles (ASV) had steadily grown over two decades, expanding beyond its roots of car prep services to become a trusted partner to many automotive clients for marketing event planning, execution, exhibit design, fabrication, vehicle modification and logistics. In 2008, the business was significantly impacted by the recession and over the next five years underwent significant transformation. By the end of 2014, ASV’s annual revenue had recovered to their pre-recession peak. The company began taking on bigger and more profitable jobs. The challenge however, was that customers with big jobs didn’t pay for their project until work was completed. And even when contract terms specified payment was due within 30 days, most were delaying the payment to 60 days. This meant that ASV needed to underwrite the job. In May of 2014, Shawn received a request to bid on a large project. Shawn really wanted to bid on the project, but he was not sure if his company would have the cash to underwrite all the costs to finance the job before full payment was received.