Angeles completed the acquisition of Crenlo from KPS.

Angeles Equity Partners, a private equity firm, completed the acquisition of Crenlo Cab Products, an independent manufacturer of operator cabs, locomotive sub-assemblies, electronic enclosures, and other complex fabrications, from KPS Capital Partners. Financial terms were not disclosed. Angeles is merging Crenlo and WIEC to drive growth through improved manufacturing scale and capabilities, better geographic reach, and broader product portfolio applications. The combined business will be majority owned and controlled by Angeles, with Worthington Industries retaining a minority ownership position as part of its cashless transaction with Angeles. “This transformational merger will create a business with remarkable capabilities and scale. We believe this is a compelling opportunity to leverage our firm’s capabilities to help the new company achieve its full potential,” Timothy Meyer and Jordan Katz, Angeles Equity Partners Co-founders and Managing Partners.