CINCINNATI, OH – RKCA, Inc. (“RKCA”), a leading, independent, middle-market investment bank, is pleased to announce CINCINNATI, OH – RKCA, Inc. (“RKCA”), a leading, independent, middle-market investment bank, is pleased to announce the successful sale of Aladdin Steel, (“Aladdin”), a leading specialty steel distributor of carbon steel tubing and pipe. successful sale of Ascent Technologies Inc., (“Ascent”), an AI-driven software platform for regulatory compliance.
Aladdin was founded in Gillespie, IL by Gene Eschbacher and partners in 1976. Over the years, the company grew significantly and expanded its product line with additional material types, sizes, and finishes. In 1995, Aladdin expanded into a second facility located in Carlinville, IL. In 2009, Gene became the sole owner and focused the company to scale. Aladdin’s success is rooted in its emphasis on an expansive product line and a team focus on customer service.
“Congratulations to Gene, and the Aladdin team! Brent and I enjoyed collaborating with Aladdin’s management team to run a process to find a partner who could support and accelerate Aladdin’s strong trajectory, culture, and legacy. We are very excited to announce their partnership with Holleway Capital,” said Tom Compton, RKCA Partner.
Aladdin was acquired by Holleway Capital (“Holleway”), a private equity firm based in St. Louis, MO, with a focus on Midwestern manufacturers and distributors of industrial products. Holleway was founded by Holly Huels and Wes Hampp, each of whom have led long tenured careers investing in the lower middle-market and working closely with entrepreneurs and founder-owned businesses. Holly and Wes have an appreciation for the hard work and many years it takes to build a business.
“Aladdin has a nearly 50-year history of servicing customers as a one-stop shop for their steel tubing requirements and services. We are excited to work with Shane Hammond, CEO, members of the management team, and the skilled employees of Aladdin to continue offering differentiated products and specialty services providing value to our many customers,” said Holly Huels, Co-Founder and Managing Partner of Holleway Capital Partners.
Regarding RKCA’s role in the transaction, Gene Eschbacher, Aladdin Steel Owner, said, “RKCA was instrumental in the selling of my business of 47 years. Tom and Brent provided detailed guidance and leadership throughout the sales process. With their patience and perseverance, the sale was a success. I highly recommend RKCA to anyone looking to sell their business.”
RKCA advised on the sale process as investment banker. Tom Compton, Partner, and Brent White, Associate, led the transaction.
About Aladdin:
Aladdin Steel is a leading specialty steel distributor of carbon steel tubing and pipe, for more information please visit: www.aladdinsteel.com.
