INDIANAPOLIS, Dec. 10, 2019 /PRNewswire/ -- Frank Davis, founder of Circle City Rebar ("CCR"), announced Monday, the sale of the company to Chicago-based, KWILL Capital Partners ("KWILL").
CCR is a Midwest leader in the fabrication of concrete reinforcing steel for commercial and industrial construction applications. Founded in 2005, CCR has developed strong relationships with general contractors throughout the Midwest, earning their trust through consistent on-time delivery and customer service.
Leveraging state-of-the art industry equipment and technology, CCR has supplied rebar to hundreds of projects from end-to-end from its 26,000 square-foot facility in Indianapolis, IN. Several of note include Lucas Oil Stadium, the East End Bridge spanning the Ohio River, the O'Hare Consolidated Rental Car/Parking Facility in Chicago, Horseshoe Casino in Cincinnati, and the OneAmerica Parking Garage in downtown Indianapolis.
"This is an exciting time for us; we picked KWILL as a partner because they have a long-term focus, high integrity, and share our passion for service," said CCR Founder, Frank Davis. "They bring excitement, enthusiasm and dynamic thought-leadership to our business which are the key ingredients to continued growth here in the Midwest and beyond."
The KWILL team, led by Corey McLendon and Hugh Williams, bring more than 30 years of executive experience in real estate development, operations, and management to augment CCR's deep industry and manufacturing expertise.
"We are excited to continue to operate CCR here in Indianapolis with the same customer-first mentality, while maintaining the valuable, decades-long relationships Frank has cultivated with CCR's strategic partners and suppliers. We are also proud to continue to operate as a Minority-Owned Business with MBE and DBE designations," said Mr. Williams. Mr. McLendon added, "Frank has built an impressive company with a great reputation and legacy. We are charged with growing that reputation and protecting that legacy; a responsibility that we will take very seriously to make Frank proud." Mr. Davis will continue his leadership of Circle City Rebar; transitioning from President to Chairman in 2020.
Metropolitan Capital, a boutique Universal Bank, served as financial advisor to KWILL in the transaction. Kevin Costello, who led the transaction for Metropolitan Capital, will maintain his engagement as Chief Financial Officer.
SOURCE Metropolitan Capital