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Paladin’s parent company hires new leader

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International Equipment Solutions names Stephen Andrews CEO.

| January 10, 2012

NEW YORK – Paladin’s parent company, International Equipment Solutions(“IES”) announced has named Stephen Andrews as its CEO. Andrews was previously president and CEO of Pettibone the parent company of fourteen diversified global industrial businesses.

IES, through its Paladin and Crenlo business units, is a global engineered equipment company serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining and energy markets. IES is owned by KPS Capital Partners, LP, a private equity firm with more than $2.7 billion of assets under management, which formed the company in September 2011.

Andrews said, "I am thrilled to lead International Equipments Solutions. IES’ acquisitions of Paladin and Crenlo are just the first steps in the creation of an international engineered equipment manufacturer with leading brands and a strong reputation for quality, durability, delivery, support and continual product innovation. I look forward to working with the Paladin and Crenlo associates to provide our customer base with world-class service, and to grow IES worldwide both organically and through acquisitions.”

Prior to joining Pettibone in 2007, Andrews spent thirteen years in various domestic and international positions with Hendrickson International. He is a graduate of the University of Michigan.

 

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