| 03/08/2008 |
| Sugar Grove Custom Cars buys California company |
| By: Bob Eschliman |
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Sugar Grove Custom Cars of Dallas Center has acquired the assets of Mystique Racing in Northern California. Owner Jim Woodsmall said the acquisition is a "good fit" for his company. Sugar Grove Custom Cars, which launched in Dallas County just last year at its large red warehouse facility along Iowa Highway 44-Sugar Grove Avenue-in Dallas Center, designs, builds and sells various high quality and unique motor vehicles, including custom, race and kit cars. The company also owns and operates Sugar Grove Racing in Adel. Woodsmall credited local officials in both Adel and Dallas Center for their assistance in helping to get his company off the ground, particularly with the construction of the company's two facilities. "There was timely action in regard to our building plans, permits, et cetera," he said. "And, civic leaders are supportive and provide a positive business environment for us to pursue the idea that we are 'The Little Car Company that thinks it can.'" Prior to the sale, Mystique Racing designed and tooled the parts used to produce the M-5 Formula First Race Car. Later this month, tentatively around March 17, company assets will be moved to Dallas Center where, after further development, the car will be offered for sale as either a constructor kit or as a complete car. The M-5 is an open-wheel race car that competes in Sports Car Club of America races across the United States. A single kit retails for approximately $8,000 and a completed M-5 can cost as little as $12,000 to make race-ready. "We especially like the idea that we are getting involved with Formula First racing as it continues to develop and grow as an accepted class of cars in SCCA Club Racing," Woodsmall said. "So we see this as a nicely paced opportunity. We can develop the car as the need for the car grows." Mystique Racing will enter its factory prototype M-5 in the FormulaCar Magazine 2008 Formula First Challenge Cup Series. In 10 races held during five weekends on road racing courses across the U.S. will begin April 4-6 at Roebling Road Raceway, located near Savannah, Ga. Two Challenge Cup races will be held as part of the 45th Formula Vee Birthday Party. Woodsmall said it will be the perfect time and place to showcase the M-5's design and construction. "We are very excited to be participating in such a historic event as the Formula Vee Birthday Party. We feel that the Formula First class is the most exciting new formula car class to come along in some time," he said. "Its unique combination of affordability, performance, and close racing will make it one of the fastest growing formula car classes available." Future M-5s will be built at the Sugar Grove Custom Cars facilities in Dallas Center. Continued product development will likely lead to a production car, Woodsmall said, slated for retail sale by late-2008. He also hopes the M-5's development will lead to new job opportunities in Dallas County. "We think and hope so," he said. "Not so much during the early part of 2008, but possibly toward the end of the year."
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