"It’s fantastic to have Dave joining the team, he’s a driver with a lot of experience under his belt and who’s had a lot of success during his career in Supercars so far," Kelly said.
"I believe that with the direction the team is heading in and our ambitions for the future, Dave will be an extremely strong asset who will have the ability to achieve strong results immediately and also compliment Andre and help him to continue his development path.
"I think with the driver line-up we’ve landed with, both drivers will push each other to succeed, as was the case with Rick and Andre last season, which is exactly what we were after when deciding on what direction to go in."
Kelly was also pleased to lock in Penrite, with its facility just down the road from KGR’s Braeside headquarters.
"It’s also fantastic to have Penrite on-board, they’re a great Australian-owned and operated business," he said.
"All of the oil is actually processed at their facility which is only 20-minutes up the road from our factory.
"There are a lot of similarities between our two businesses, both being family-owned and operated with a real passion for motorsport.
"There are some great synergies there and we’re really excited to work with them."
Reynolds will make his racing debut for KGR at the 2021 season opener, the Mt Panorama 500, across February 26-28.