The single-car Ford team, built out of the existing LD Motorsport outfit, has signed Milwaukee Tools on a three-year major sponsorship deal.

The car's ex-Prodrive Falcon will run with full Milwaukee branding, with the team to be known as Milwaukee Racing.

The team has also confirmed that Davison will run number 023.

Co-owner Phil Monday, who has been the driving force behind the reformatting of the squad, said: “With our driver locked in and corporate partnership sealed for the next three years, I’m really looking forward to starting the race year in 2018."

The team has played a major role in the silly season, with one of its Racing Entitlements Contracts heading to Prodrive to be used for Richie Stanaway's entry.

That deal was part of the purchase of the Sandown 500-winning Falcon chassis, which will replace the ageing Holden hardware LDM was using up until the end of this season.

Having announced its restructure as a single-car Ford team, 23Red then bagged the major coup of signing Davison as its 2018 driver.