Chancey Metal Products, a Jacksonville-based company that fabricates and installs metal stairway and railing systems, has been acquired by Indigo South Capital, a private family office also based in Jacksonville.
Founded in 1986, Chancey focuses on the multifamily industry, with products also including fencing and structural steel.
Founder Lee Chancey will continue to be involved in the business after the sale, details of which were not disclosed.
“Our team has worked hard for many years to earn our customers’ trust. Indigo South Capital couldn’t have a better group of people to continue our company’s growth,” he said in a statement.
Steve Jenkins, who provides permanent and temporary executive leadership through Jensco Management Services, will take over as president.
“We are honored to build on the foundation that Lee and everyone at Chancey Metal has built,” Jenkins said. “With a strong management team and a new group of Jacksonville-based owners, we are in an excellent position to continue the company’s legacy.”
Heritage Capital Group was the exclusive financial advisor to both Chancey and Indigo.
Indigo invests in public and private equities, venture capital opportunities, and real estate. It specializes in acquiring majority interests or outright purchasing privately held enterprises in the lower middle market.