D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Crimson Steel Supply (“Crimson”), a portfolio company of Argonaut Private Equity (“Argonaut”), on its sale to White Cap (“White Cap”). Headquartered in Tulsa, Oklahoma, Crimson is a premier value-added distributor and fabricator of engineered steel rebar and structural steel products serving commercial, industrial, and infrastructure end-markets.

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D.A. Davidson Acts as Exclusive Financial Advisor to Crimson Steel Supply on Its Sale to White Cap. (Graphic: Business Wire)

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, OK. 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.”

“Dustin and his team have built a great company that Argonaut had the privilege of partnering with. The success reflects Argonaut’s core strategy of partnering with entrepreneurs to take their businesses to the next level. We are excited for Crimson’s continued growth and next phase with the White Cap team,” said Steve Mitchell, CEO of Argonaut.

Founded in 2002, Argonaut Private Equity is a Tulsa, OK-based private equity firm with over $3 billion of assets under management in direct investments with a focus on the manufacturing and industrial sectors. Argonaut partners with companies and management teams to develop a strategy for accelerating growth and enhancing operations.

White Cap and its affiliates serve as a one-stop shop, providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing products, and safety products to professional contractors by meeting their distinct and customized supply needs in non-residential, infrastructure, and residential end markets. White Cap operates approximately 450 branches across North America with more than 9,500 employees supporting approximately 200,000 customers.

D.A. Davidson Investment Banking is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: Consumer, Diversified Industrials, Financial Institutions, and Technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 29 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor providing fixed income portfolio and advisory services.

For more information, visit dadavidson.com.

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