Manufacturing Industry Veteran to Leverage Private Equity Operations Leadership Experience Rapidly Growing Fabrication, Distribution, and OEM Component Businesses
LOS ANGELES – October 27, 2020 – Angeles Equity Partners, LLC (“Angeles”), a private investment firm focused on value creation through operational transformation, today announced Paul J. Schmitz has been appointed to the Board of Directors of Crenlo Engineered Cabs (“Crenlo”). Naming Mr. Schmitz to the Board is the latest step in Crenlo’s strategic plan to accelerate growth, serving heavy equipment and off-highway vehicle manufacturers.
“Paul’s impressive career serving industrial sector customers makes him a valuable resource to partner with Crenlo management and Angeles to extend Crenlo’s position as a leading provider of engineered operator cabs,” said Timothy Meyer and Jordan Katz, Co-Founders and Managing Partners of Angeles Equity Partners. “We are eager to have Paul join the team and look forward to him playing an integral role in realizing the full potential of our Crenlo investment.”
Mr. Schmitz brings to Crenlo more than 35 years of commercial and operational experience serving original equipment manufacturers (OEMs) and building contractors in the industrial sector while scaling sales and earnings growth through a commitment to operational excellence. Paul currently serves on the Board of Directors for API Heat Transfer and previously served as President & CEO of Thermasys before its merger with API Heat Transfer. He is the former President & CEO of Trulite Glass & Aluminum Solutions and currently serves on its Board of Directors. Paul is the previous Chairman of the Board at Thermalex – a joint venture with Mitsubishi Aluminum Company. Earlier in his career, Mr. Schmitz was President and COO of Morton Custom Plastics, now Wilbert Plastic Services, and VP General Manager of Fiberite, now part of Solvay. Paul J. Schmitz has been published in Harvard Business Review and graduated from Kansas State University with a Bachelor of Science in Mechanical Engineering.
“I look forward to supporting the Crenlo team in their transformation to become the undisputed leader in high-quality engineered cabs,” said Paul Schmitz, Director of Crenlo Engineered Cabs.
“We are excited to welcome Paul to the Crenlo board,” said Matthew Karmel, CEO of Crenlo Engineered Cabs. “We believe his experience in similar organizations will be immensely valuable as we shape the future of our business.”
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational, and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at www.angelesequity.com.
About Crenlo Engineered Cabs
Crenlo Engineered Cabs was formed by the merger of Crenlo Cab Products and Worthington Industries Engineered Cabs. Crenlo is a leading manufacturer of engineered operator cabs, roll over protective structures, locomotive sub-assemblies, electronic enclosures, operator stations, and custom complex fabrications in North America and South America. Since 1951, facilities in Minnesota, South Dakota, and Tennessee have been serving heavy equipment and off-highway vehicle original equipment manufacturers (OEMs) with Made in America products. Crenlo is backed by Angeles Equity Partners. Learn more online at www.engineeredcabs.com.
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If you would like more information, please contact Trenton Waterhouse at +1 623 523 1672 or email info@angelesequity.com. This is not an offer or solicitation to sell securities.