A Car Guy Cashes in by Transforming Clunkers Icon produces artisan-quality, custom-made rides out of scrapyard-bound vehicles.

Luxury and ruggedness don't always go hand in hand, but they converge beautifully at Icon, a company that produces artisan-quality, custom-made rides out of scrapyard-bound vehicles.

Housed at an industrial complex in Chatsworth, Calif., Icon's headquarters stands out thanks to the dozens of beat-up, rusted Toyota Land Cruisers and Ford Broncos lined up in the parking lot. "They're our ladies-in-waiting," jokes founder and CEO Jonathan Ward. Each one will be transformed, via reverse-engineering and low-volume manufacturing techniques, into a fully customized vehicle.

Ward, a self-described "purist geek" when it comes to cars and design, founded his first brand, TLC, with his wife, Jamie, in 1996. A small automotive shop focused on restoring Toyota Land Cruisers, TLC led them to the idea for Icon, which has grown into a 28-person, $5.2 million business. Ward expects revenue to triple over the next three years.