Crenlo Engineered Cabs divests Brazilian division to focus on North American market
Crenlo Engineered Cabs, a manufacturer of engineered operator cabs and roll-over protective structures for heavy equipment and off-highway vehicles, has announced the strategic sale of its Brazilian division, Crenlo do Brasil, to an affiliate of JOST Werke SE. This pivotal move enables Crenlo to focus its full resources on the lucrative North American market for off-highway vehicle original equipment manufacturers (OEMs).
The sale is a landmark development for Crenlo, a portfolio company managed by Angeles Equity Partners, LLC. Formed by the merger of Crenlo Cab Products and Worthington Industries Engineered Cabs, Crenlo has been serving the North American heavy equipment and off-highway vehicle OEMs since 1951, with manufacturing facilities in Minnesota, South Dakota, and Tennessee.
Frank Spelman, managing director of Angeles Equity Partners, and Adam Lerner, operating partner of Angeles Operations Group, commented on the transaction, stating, “This sale supports our strategic focus on the North American off-highway vehicle space and aligns Crenlo do Brasil with a global manufacturer and supplier in the commercial vehicle industry. We anticipate a bright future for Crenlo with its streamlined focus on North American operations.”
Headquartered in Guaranésia, Minas Gerais, Crenlo do Brasil has been a key player in manufacturing value-added engineered operator cabs and attachments for off-highway vehicle markets. The divestiture to JOST marks a new chapter for the company.
John Lenga, CEO of Crenlo, added, “Crenlo remains committed to investing in our capabilities to deliver a compelling value proposition to off-highway vehicle OEMs. We congratulate the Crenlo do Brasil leadership team for their contributions and foresee continued success alongside JOST.”
Lincoln International LLC and Honigman LLP served as the financial and legal advisors to Crenlo for this transaction, which sets the stage for the company’s sharpened focus on serving North American off-highway vehicle OEMs.