New Company Acquires Eagle Steel Products
By Metal Center News Staff
on Mar 1, 2019
Kestrel Company, an investment corporation founded by Shelby Ray, has purchased the remaining assets of Eagle Steel Products from Shirley Ohta, who founded Eagle in 1982.
The new ownership, led by Ray, expects to maintain its woman- and minority-owned business status.
Eagle operates a steel and metal products warehousing and distribution facility in Louisville, Ky., near Ford’s Kentucky truck plant. Eagle also maintains a prominent transportation company in the region.
Kestrel Company will be doing business as Eagle Steel & Metal Products.
Shelby Ray is granddaughter of Steel Technologies founder Merwin Ray, who recently passed away. She is the daughter of Stuart Ray, former executive of Steel Technologies and a 35-year veteran of the steel and metals industry. He is currently running his network of metals and transportation businesses, Louisville-based, The Peregrine Company.
Shelby Ray has been employed by Peregrine and the Rays have been exploring the industry for the right opportunity for several years. Shirley Ohta, previous Eagle President & CEO, will be retiring at the close of this transaction after a 36-year career in the steel industry.
“I’m very excited to lead our company and the purchase of Eagle Steel Products, a company I have recognized as a leader in steel distribution and transportation for many years” said Shelby Ray, president and CEO of Eagle Steel & Metal Products. “I look forward to carrying on the legacy built by Shirley Ohta and Chuck Moore as we continue Eagle’s excellent reputation in the metals warehousing and transportation business.”