First National Bank Corporation’s Small Business Group Finances Joint Venture Buy-out
Cleveland, Ohio – The AKA Team (AKA), a minority, woman-owned business, has announced its purchase of the remaining 49% of Donley’s Restoration Group’s (DRG), interest in a waterproofing business joint venture shared by AKA and DRG. DRG is a division of Donley’s, a family-owned business, established in 1941.
Local businesswoman Ariane Kirkpatrick began the first step in building a construction management empire when she founded The AKA Team in 2009. Since that time, she has added several divisions including: Construction Management, Small Projects, Commercial Cleaning and Waterproofing. This strategic decision made AKA uniquely qualified to handle a full-range of construction projects in the construction industry.
“The acquisition of the remaining 49% of the venture, has taken my business to a whole new level. Don Drier, Executive Vice President, and a member of Donley’s leadership team, has mentored me for years and was instrumental in making this historic partnership a reality” said Kirkpatrick.
With the financing providing by First National Bank Corporation’s, Small Business Group, under the direction of Timothy Carson, Vice President & Business Development Officer, this transaction is one of the first with a minority, woman-owned firm.
Carson said, “the deal was a perfect opportunity for our Bank to reinforce our commitment to supporting small business development in the region, while helping Ms. Kirkpatrick expand her business operation at a critical time in her business’ growth. And her prior business experience and success, made our decision to make the historic $750,000 loan, a no-brainer.”
Donley’s leadership team saw something special in Ariane Kirkpatrick early on and included her in a number of their construction projects. AKA’s successful performance on these projects, fostered a deeper business relationship between the two companies. “Ariane is a tough, but committed businesswoman in our industry, and we have enjoyed working with AKA as a strategic partner in our waterproofing business,” explained Drier.
A highly-regarded & respected businesswoman and philanthropist, Ariane is an active member of, and holds leadership roles in various local constriction industry trade associations, including the Construction Employers’ Association (CEA), and the Contractors’ Assistance Association (CAA).
Kirkpatrick is also active in the greater Cleveland community, and is a staunch advocate of hiring women for construction trade positions and apprentice programs. She also supports hiring convicted felons and giving them a “new lease on life.”