Chase Bank, ReignRock Capital Partners LLC and Inverdale Capital Management LLC have joined forced to recapitalize Haltom City-based Falcon Steel America LLC.
The transaction provides new equity and debt financing to support future growth while marking the transition of Falcon Steel Co. into its new entity, Falcon Steel America LLC.
Falcon Steel America designs, fabricates and engineers products and services primarily for power transmission and distribution companies, as well as for steel structures for the transportation industry.
“This is a milestone for Falcon because it gives our company the financial strength to purchase new equipment, hire new and highly skilled employees, make strategic acquisitions and expand into areas that offer outstanding growth opportunities for the entire Falcon team,” said CEO Jim Taylor, commenting in a news release.
“Falcon’s superior management team, combined with its 53-year track record of providing outstanding quality and customer service, make this a compelling investment for our firm,” said Doug Kramp, managing partner for ReignRock Capital Partners, a newly formed, Dallas-based private equity firm.
Stewart Geyer, managing partner of Inverdale Capital Management, echoed that enthusiasm.
“We are excited to take part in the resurgence of this great American company. Falcon is defined by skilled people, quality products and exceptional perseverance, and we look forward to the next chapter in this company’s storied history,” Geyer said.
Founded in 1963, the newly named Falcon Steel America provides utilities and other transmission and distribution providers with steel-fabrication products. According to Taylor, the company’s new name emphasizes its American roots, which he believes are a major advantage for customers who want quick turnaround times and responsive communications.
Falcon Steel America employs more than 300 employees statewide. It also has manufacturing facilities in Euless and Kaufman. More information is available at www.falconsteel.com.