[1] Rae Rearwin was an American businessman who had developed several successful business ventures in the Salina, Kansas area in the early 20th century.
[2] Rae Rearwin had toured Wichita aircraft manufacturers in the summer of 1927 with his teenage sons Royce and Ken and became convinced he could improve on what he saw.
He investigated buying an existing firm, but none were interested in selling, so he tried to hire Herb Rawdon away from the Travel Air Corporation.
While the Ken-Royce prototype engaged in publicity tours and races, Rae Rearwin sought an investor to fund operations.
A Kansas City oilman provided funds and Rae formed a joint venture with him, naming the company Rearwin Airplanes.
The sale was made at a steeply discounted price, to give the LeBlond company a tax write-off, and gave Rearwin an in-house source of small radial engines for their aircraft.