Angeles Equity Partners Appoints Tom Riordan to Crenlo Engineered Cabs Board of Directors

Rhea-AI Summary

Angeles Equity Partners has appointed Tom Riordan to the Board of Directors of Crenlo Engineered Cabs. With 30 years of experience in the heavy manufacturing sector, Riordan aims to support Crenlo's strategic growth, focusing on the needs of heavy equipment and off-highway vehicle manufacturers. His background includes leadership roles at various companies, including Neenah Enterprises and Terex Corporation. Riordan's expertise in acquisitions and business turnaround is expected to enhance Crenlo's market position.

Positive

• Tom Riordan brings 30 years of heavy manufacturing leadership experience.
• Riordan's expertise in acquisitions and business turnaround can accelerate Crenlo's growth.
• His appointment supports strategic alignment with heavy equipment manufacturers.

Negative

• Concerns may arise regarding continuity during the transition period.
• Riordan's extensive experience might not translate directly to Crenlo's specific market challenges.

30-Year Manufacturing Industry Veteran Brings Extensive Leadership Experience to Fabrication, Distribution, and OEM Component Business

LOS ANGELES--(BUSINESS WIRE)-- Angeles Equity Partners, LLC (“Angeles”), a private investment firm focused on value creation through operational transformation, announced the appointment of Tom Riordan to the Board of Directors of Crenlo Engineered Cabs (“Crenlo”). The addition of Mr. Riordan to the Board is the latest step to support the company’s strategic plan to accelerate growth, serving heavy equipment and off-highway vehicle manufacturers.

Heavy manufacturing veteran Tom Riordan has been added to the Board at Crenlo Engineered Cabs, an Angeles Equity Partners company. Riordan brings 30 years of industry experience to the role. Photo credit: Courtesy of Crenlo

“Tom’s deep leadership experience across many heavy manufacturing sectors will make him a valuable partner to Angeles and to the Crenlo team as we work to realize the full potential of our Crenlo investment,” said Timothy Meyer and Jordan Katz, Co-founders and Managing Partners at Angeles Equity Partners.

Throughout his 30-year career, Tom Riordan has been involved in heavy manufacturing leadership roles in various industries, including automotive, construction and agricultural equipment, and building products. Riordan brings extensive international experience in both public and private companies to the Crenlo Board of Directors, along with meaningful skills in acquisitions, integration, and business turnaround situations. Riordan is the retired chief executive officer (“CEO”) of Neenah Enterprises, a U.S. casting and forging manufacturer. Before his tenure at Neenah, Riordan served as president and chief operating officer (“COO”) for Terex Corporation, a Fortune 500 construction equipment manufacturer. Before that, Riordan was an executive vice president and COO for SPX Corporation, a multinational, supplier of highly engineered infrastructure equipment and technologies. He is currently the lead director for the L.S. Starrett Company (NYSE: SCX), a manufacturer of precision measurement instruments and equipment.

“I look forward to leveraging my experience to help Crenlo become the market leader in high-quality, customizable engineered cabs that keep mobile equipment operators safe and productive,” said Tom Riordan.

“Crenlo is proud to welcome a leader like Tom to the board,” said John Lenga, CEO of Crenlo Engineered Cabs. “His deep experience in heavy manufacturing and outstanding track record of delivering operational results will be a strong asset to us as we position Crenlo as the outsourced cabs partner of choice in the industry.”

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, rollover protective structures, locomotive sub-assemblies, 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.

If you would like more information, please email info@angelesequity.com.
This is not an offer or solicitation to sell securities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220208005413/en/

Michelle Barry

Chameleon Collective for Angeles Equity Partners

+1 (603) 809-2748

michelle.barry@chameleon.co

Source: Angeles Equity Partners, LLC and Crenlo Engineered Cabs

FAQ

Who is Tom Riordan and what is his role at SCX?

Tom Riordan is a 30-year manufacturing industry veteran appointed to the Board of Directors of Crenlo Engineered Cabs, associated with SCX.

What is the significance of Tom Riordan's appointment for Crenlo?

Riordan's appointment is aimed at leveraging his extensive experience to drive growth at Crenlo, particularly in the engineered cabs market.

What industries has Tom Riordan worked in before joining Crenlo?

Riordan has held leadership roles in various sectors, including automotive, construction, and agricultural equipment.

How might Tom Riordan's experience impact the stock SCX?

His experience in heavy manufacturing and turnaround strategies could potentially enhance Crenlo's operational efficiency and market competitiveness, positively impacting SCX's stock.