Anaheim, California (March 2, 2015) — Penhall Company (“Penhall” or the “Company”), the market leader in concrete cutting, coring and removal services, today announced the appointment of Mr. Jeff Long as Chief Executive Officer. Mr. Long will succeed Mr. C. George Bush, who is retiring from active leadership in the Company and will transition to serving as Senior Advisor to the Company.
Mr. Long brings a wealth of experience to this role and a deep knowledge of Penhall and its industry, after having served on the Board of Directors of the Company and worked closely with the senior leadership team of the Company since 2010. Mr. Long was most recently Senior Managing Director at Centerbridge Partners, L.P. from 2010 until 2015, where he focused on improving portfolio company operations. Prior to joining Centerbridge, Mr. Long was a Managing Director at Vestar Capital Partners, where he was similarly responsible for portfolio companies across a variety of sectors. Before that, Mr. Long was a Principal at McKinsey and Company, Inc. where he consulted for CEOs in the aerospace and defense, energy, engineering and construction and diversified industries. Mr. Long served on active duty for fourteen years as a Cavalry Officer of the U.S. Army and graduated from the United States Military Academy at West Point.
“I am excited to join Penhall, which has a great brand, a rich history, a nationwide footprint and highly skilled operators, and customer-focused management,” said Mr. Long. “Penhall is the market leader in concrete cutting and grooving and grinding services, and I look forward to working with our exceptional employees on further strengthening and growing the business.”
Mr. Kyle Cruz, Senior Managing Director at Centerbridge, added: “We thank George for his three decades of service to Penhall and tremendous contribution to the Company. We also have great confidence in Jeff, who has been involved with Penhall since our 2010 acquisition and brings the experience and vision required to lead Penhall forward.”
About Penhall Company
Founded in 1957, Penhall Company is a market leader in concrete cutting, sawing, drilling, breaking, scanning and related concrete construction services. Serving customers nationwide with the newest fleet and equipment available, Penhall continually invests in emerging specialty technologies and capabilities. Spanning 41 locations in 21 states and Canada, Penhall employs 1,300 professionals, who are dedicated to upholding a safe workplace, providing superior service to our customers, and meticulously maintaining the equipment.
Centerbridge Partners, L.P. is a private investment firm based in New York City and currently has approximately $25 billion in capital under management. The firm focuses on private equity and credit investments. The firm is dedicated to partnering with world-class management teams across targeted industry sectors to help companies achieve their operating and financial objectives.