White Cap buys Crimson Steel Supply
White Cap has acquired Crimson Steel Supply, LLC, a value-added distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.
Crimson Steel is now part of the White Cap suite of brands, branches and value-added services.
"We are very pleased to be able to expand our rebar and structural steel product capabilities across the region thanks to the exceptional talents of the Crimson Steel team," said Alan Sollenberger, CEO of White Cap. "By combining our knowledgeable teams and expanding our product offerings, we are able to strengthen our ability to deliver exceptional service to our customers."
Since its founding in 2010, Crimson Steel has built a leading position in the Oklahoma rebar fabrication market with a focus on complex projects throughout Oklahoma and surrounding states supported by over 100 employees. The experienced and knowledgeable staff serves customers from three locations in Tulsa, Oklahoma City, and Muskogee, Oklahoma. Crimson Steel had previously partnered with Argonaut Private Equity, a Tulsa-based private equity firm focused on investments in the industrials, manufacturing, and services sectors.
"I am proud of the immense success Crimson Steel has achieved over the last 14 years and enjoyed the partnership that I had with Argonaut" said Dustin Wright, CEO of Crimson Steel. "My team's commitment to providing exceptional products and services to our customers has helped us become the leader in the Oklahoma rebar market. Joining the White Cap family will allow us to continue supporting our valued customers while expanding our product and service offerings."
D.A. Davidson & Co. served as exclusive financial advisor to Crimson Steel and Argonaut Private Equity in the transaction.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
