Farragut Invests in O'Donnell Metal Deck

WASHINGTON, D.C. – Farragut Capital Partners, Inc. (“Farragut”) is pleased to announce the closing of an investment in O’Donnell Metal Deck, LLC (“O’Donnell” or the “Company”).  Farragut invested mezzanine debt and preferred equity to support the acquisition of O’Donnell by Slate Capital Group, a Baltimore, Maryland-based private equity investment group.  CFG Bank provided senior financing in support of the acquisition. 

Founded in 1996 and based in Elkridge, Maryland, O’Donnell is a value-added distributor of metal decking and steel bar joist primarily for the commercial construction industry. The Company serves steel fabricators, contractors, builders, and building material suppliers throughout the mid-Atlantic and nationally.  O’Donnell prides itself on offering its customers a high-level of service and technical expertise to facilitate tight turnaround times on specialized or complex orders.

Phil McNeill of Farragut said of the transaction, “O’Donnell has built tremendous momentum over the past few years based on its reputation for first-rate service and its ability to provide a one-stop solution for its customers’ steel decking and joist needs.  We’re happy to support such a dynamic local company and excited about our partnership with the teams at CFG Bank and Slate Capital.  We look forward to supporting the Company as it capitalizes on the exciting growth prospects ahead.”

The investment was made out of the firm's recently closed second SBIC fund, Farragut SBIC Fund II, L.P.