Long term horizons

We are a trusted partner for building outstanding businesses over the long term
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Who You Are

You are the builder of a great company

  • Your success is based on innovation and a relentless focus on execution.
  • Your people – their communities, and the environment – matter to you.
  • Your focus is on the long term and you seek a partner for the future.

We founded Cranemere to be your partner

Who We Are

A trusted partner

Cranemere is a distinct alternative

For those considering private equity, going public, or being owned by a large corporation.

Cranemere is a holding company for outstanding businesses in the United States and Europe.

We are a long-term, values-aligned partner with permanent capital, business-building expertise, and a global network.

Our lasting partnership enables innovative founders, entrepreneurs, and leaders to focus on the best long-term strategy and build exceptional companies.

A distinct alternative

We look beyond the horizon

Too often outstanding companies are trapped in short-term cycles of being burdened by debt and repeatedly sold. Some are weighed down by quarterly reporting and myopic scrutiny. Others are subsumed and neglected by corporate giants.

We create more value for all stakeholders: we are actively committed to the long-term success of our businesses, the wellbeing of people, the benefit of communities, and the safeguarding of the environment.

We avoid the pitfalls of short-termism: the cost, inefficiency and distraction of being sold, the burden of excessive leverage, and the resulting missed opportunities to grow the business.

We harness the power of compounding in a highly efficient model to generate greater returns for shareholders.

Our Values

Cranemere Values

Long-Term Partnership

We create lasting partnerships based on respect and fairness, where decisions are
made together with a long-term mindset for value creation

Principal Preservation

We focus on careful management of risk with a conservative approach to leverage that enables ongoing strategic commitments to growth.

Innovation Is Core to Enduring Success

We believe that continuous entrepreneurial enterprise and creativity are essential components of enduring success.

Business Should Be a Force for Good

We look to mobilize the transformative power of business to have a positive impact on our stakeholders and the environment – unlocking further business value.

Operating Companies

Our Operating Companies

Cranemere partners with leading companies for the long term. We seek to create shareholder value over decades, not quarters.

Our long-term horizon makes us a differentiated partner for founders, management teams and family-owned companies. We are committed to social and environmental leadership, good governance, and considering the interests of all stakeholders in our decision making.

A leading U.S. manufacturer of office furniture
A leading European manufacturer of engineered stone bathroom products
A major U.S. anesthesia services provider
One of the largest commercial truck dealership groups in North America

Exemplis

A leading U.S. manufacturer of office furniture

  • Exemplis is one of the leading manufacturers of office furniture in the U.S. It was founded in 1996 and is based in Southern California
  • Exemplis goes to market under the SitOnIt brand
  • Exemplis has a unique made-to-order business model based on mass customization. This model delivers quality, value and choice to its customers, all on a 2-day lead time
  • Cranemere partnered with the co-founder & CEO of Exemplis in 2015 to buy out his former partner and recapitalize the business
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Paul DeVries, the co-founder and CEO of Exemplis, partnered with Cranemere in 2015. The company is a leading manufacturer of office furniture in the U.S. and combines high quality materials with a mass-customized, built-to-order business model. This disruptive model enables Exemplis to produce and deliver mass-customized, high quality products in less than a week at attractive prices that provide meaningful value to customers.

“I was looking for a long-term, value-added strategic partner that genuinely wanted to be on this exciting journey with us. We found that partner in Cranemere. The highest compliment I can give is that I would, without hesitation, make the same partner selection decision again.” — Paul DeVries, Co-Founder & CEO of Exemplis

Exemplis is the largest manufacturer of office chairs in the U.S., and its award-winning product suite includes mass-customized and made-to-order chairs, lobby / lounge seating, tables, benching, desking and accessories.

Paul selected Cranemere due to its partnership-based approach, focus on business building, and commitment to the long term. He wanted a partner to help the business capture its full long-term potential.

Exemplis and Cranemere have built on the company’s strong foundation through the acquisitions of Symmetry (sit-stand desks, monitor arms, screens and power products) and Timbuk2 (backpacks and messenger, tote and travel bags).

The company employs over 850 people and operates manufacturing facilities in California, Florida and Mexico and showrooms in Los Angeles, San Francisco, Chicago and New York.

The Engineered Stone Group

A leading European manufacturer of engineered stone bathroom products

  • The Engineered Stone Group is the largest producer specializing in engineered stone bathroom products in Europe
  • Cranemere acquired the ES Group’s first division, Marmite, in 2016, followed by Acquabella, F&D Group and Mcbath in 2020
  • The ES Group manufactures shower trays, bathroom sinks and bathtubs and sells through the DIY, wholesale and retail channels in Europe and the U.S.
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The Engineered Stone Group (“ES Group”) comprises four divisions: Marmite, Acquabella, F&D and Mcbath. It is the leading engineered stone material specialist focused on the bathroom. The company is the largest producer of engineered stone shower trays, bathroom sinks and bathtubs in Europe.

“The Cranemere team recognized the significant opportunity in engineered stone and has supported the management team by making strategic acquisitions, expanding our geographic reach, and helping to establish a leader in the segment with the most compelling value proposition for our customers.” Brian McCluskie, CEO of the Engineered Stone Group

The ES Group has a leading position in all the major channels in Europe (independent retail, DIY, wholesale and OEM) and all the major countries in Europe, including France, Spain, Germany, Italy and Scandinavia. It recently entered the U.S. The ES Group provides a broad offering of brands and high-quality products, coupled with a commitment to outstanding customer service and the scale to invest in continued product innovation.

Engineered stone material unites natural stone with high-quality resins, offering greater design freedom, a more luxurious feel, enhanced strength and improved heat retention. Engineered stone is viewed by many consumers as a superior alternative to traditional products made of of acrylic, porcelain and enameled steel. The superior value proposition of engineered stone is driving a replacement cycle of traditional products.

Cranemere and management identified an opportunity to build a globally leading material specialist focused on engineered stone. Starting with the acquisition of Marmite in 2016, the ES Group was expanded and strengthened by the acquisitions of Acquabella, F&D and Mcbath in 2020.

The ES Group is led by Brian McCluskie, a seasoned manufacturing executive with a track record of driving substantial value creation through operational improvement. The ES Group has six manufacturing facilities in Spain and Poland and employs 1,500 people.

NorthStar Anesthesia

A major U.S. anesthesia services provider

  • NorthStar Anesthesia partners with hospitals and ambulatory surgery centers to deliver a more productive and efficient model of anesthesia care
  • The company was founded in 2004 by an anesthesiologist and a certified registered nurse anesthetist (“CRNA”) and is based in Irving, Texas
  • NorthStar employs over 2,400 providers at over 200 facilities in 22 states
  • Cranemere acquired NorthStar in 2018
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NorthStar is a leading national anesthesia practice management company that provides anesthesia staffing best practices, operating room efficiencies and improved clinical outcomes through managed anesthesia services. Having partnered with hospitals, surgery centers and clinics in more than 20 states, NorthStar is poised to enhance its comprehensive anesthesia care solutions through Cranemere’s long-term approach to building businesses and sector expertise.

“As we continue to build our platform, the Cranemere team’s extensive experience in the healthcare sector, operational support and financial acumen will support our mission of combining clinical best practices with proven processes to help our customers improve operating room efficiency and outcomes.”
— Dr. James Roberts, National Chief Medical Officer of NorthStar

Cranemere acquired NorthStar in 2018. The business is led by Adam Spiegel, an experienced healthcare executive. Adam has led a significant improvement in operations during his tenure, as NorthStar has been able to refocus internal strategic priorities while continuing to drive clinical excellence. These improvements have helped NorthStar emerge as a more effective organization resulting in the addition of sizable new contracts, new partnerships and expansion of existing relationships with health system partners.

Cranemere continues to work with Adam and team to find ways to deepen NorthStar’s presence in the markets that it serves and to invest in acquisitions that can help drive density in those markets. NorthStar is committed to bringing its high-quality care model to hospitals and ambulatory surgery centers across the country. NorthStar’s services improve care for patients and relieve staffing and administrative burdens from clients, while providing the best environment for anesthesiologists and CRNAs to work in the industry.

Velocity Vehicle Group

One of the largest commercial truck dealership groups in North America

  • Velocity Vehicle Group is one of the largest full-service truck dealership groups in the U.S.
  • Velocity’s primary dealership affiliation is with Daimler Trucks including brands such as Freightliner, Western Star, Hino and Thomas Built Buses. It also represents other brands such as Ford
  • Crossroads Equipment Lease and Finance is a leader in serving large and small fleets and independent owner-operators with equipment financing solutions
  • The company was founded in 1998 and is based in Whittier, California
  • Cranemere partnered with the co-founders of Velocity and Crossroads in July 2019 and recapitalized the business
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Velocity Vehicle Group (“Velocity”) is one of the premier full-service commercial truck dealership groups in the U.S. Its dealership operations include new and used commercial vehicle sales, service, and parts distribution, and a vehicle rental and leasing business. Its affiliate company is Crossroads Equipment Lease and Finance (“Crossroads”), a leading equipment finance platform focused on commercial vehicle purchasers in California and across the United States. Both Velocity and Crossroads are headquartered in Southern California.

“We determined that we would benefit from a partner to fully capture our opportunities at VVG. We selected Cranemere, and together we have expanded from our base in the Western U.S. to Australia, Mexico and the Southeastern U.S. and are on track to more than double the size of the business.”

—Brad Fauvre and Conan Barker, Co-Founders & Co-Presidents of Velocity Vehicle Group

Velocity operates a network of more than 30 state-of-the-art dealerships and service facilities across California, Nevada, Arizona, Tennessee, Alabama and Kentucky, with a total customer focus based on the three company pillars of speed, value and trust. The company is a leading distributor for several original equipment manufacturers, including Daimler (through its Freightliner, Western Star and Thomas Built Buses brands), Ford, and Autocar, among others. Velocity focuses on medium and heavy duty trucks. Velocity and Crossroads have over 1,800 employees in more than 30 locations.

The founders, management and Cranemere identified an opportunity to bring Velocity’s industry leading operational capabilities to more markets through acquisitions. Since closing in 2019, Velocity has announced or closed 7 acquisitions, including Neely Coble in the Southeastern U.S., AP Eagers’ truck division in Australia, Central California Truck and Trailer and Great Dane’s dealership in Los Angeles.

Our People

A team of partners

Vincent Mai is Cranemere’s Founder, Chairman, and Chief Executive Officer.

Prior to Cranemere, Vincent was CEO and / or Chairman of AEA Investors, a private equity firm founded to make investments on behalf of S.G. Warburg & Co., as well as the Rockefeller, Mellon, and Harriman families. During Vincent’s 20+ year tenure, AEA was ranked in the top 10 of 5,600 firms worldwide for the most consistent high performance by research firm Preqin1. At AEA Vincent served on numerous boards in a period where more than 80% of the value creation was driven by revenue growth and margin improvement. Vincent also served as Chairman of the AEA Mezzanine and Small Business funds.

Vincent was the former chairman of the board of Sesame Workshop, producers of Sesame Street, has been a director of the Council on Foreign Relations, and has served on the boards of the International Center for Transitional Justice and the Juilliard School, among others.

1 Based the period of Vincent’s tenure, 1989 – 2011

Our Team

Vincent is joined by a team of dedicated professionals with business building expertise across the United States and Europe who have collectively created several billion dollars of equity value and made more than 50 acquisitions.

 

Europe
London (Head Office)
  • Rosario Corcione

    Managing Director

    Rosario joined Cranemere in 2019 with over 16 years of private equity experience and leads our activities in Europe. He is a member of the Board of the Engineered Stone Group. Prior to Cranemere, Rosario was a Senior Principal in the Direct Private Equity team at CPP Investments where he was responsible for the European Industrials and Business Services verticals, and led major investments in the technology and information industries as well. Previously, he worked at First Reserve, AEA Investors where he worked with Vincent Mai and Chris Mahan, Merrill Lynch Global Private Equity and Goldman Sachs. Prior to business school, Rosario was a Lieutenant of the Italian Air Force, graduating first in his class from the Italian Air Force Academy. He received a MSc from Bocconi University's School of Management in Milan and a BA cum laude from the University of Naples.

  • Eddie has seven years of experience acquiring and building businesses. He focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to Cranemere, Eddie spent several years working for McKinsey & Company and founded and sold an EdTech company. He has an MBA with honors from UC Berkeley's Haas School of Business, and a Bachelor of Laws with honors and a Bachelor of Science from the University of New South Wales.

  • Chad Rowe

    Finance Director

    Chad is a Chartered Accountant with 15 years of experience in finance and accounting. He manages the finance and accounting functions of Cranemere. Prior to Cranemere he worked at as an auditor for Deloitte, and in Manager and Financial Controller roles at public companies, including Anglo American PLC, and Subsea 7 S.A.. He has a Bachelor of Business and a Bachelor of Information Technology from the Queensland University of Technology.

  • Tim Farquharson

    Senior Vice President

    Tim joined Cranemere in 2021 with more than 10 years experience investing in and advising businesses across a variety of industries including technology, healthcare, consumer and industrials. Prior to Cranemere, Tim spent several years at CPP Investments, where he worked extensively with Rosario Corcione as a member of the Direct Private Equity team, and, prior to that, at CD&R. An Engineering graduate from Oxford University, Tim started his career in UBS' investment banking team.

  • Catriona Brown

    Vice President - Legal

    Catriona has over eight years experience representing founder led businesses and investors in those businesses. At Cranemere, Catriona advises on all aspects of our acquisition and operating work. Prior to Cranemere, Catriona worked in the London office of Orrick, Herrington & Suttcliffe, representing clients in the UK, US, Europe and Africa in relation to investments and M&A, often with a cross border element. Catriona obtained her Bachelor of Laws with honors at Aberdeen University.

  • Harry Milligan

    Corporate Secretary

    Harry focuses on Corporate Governance, Shareholder Relations and supporting the Cranemere Board of Directors. Prior to Cranemere, Harry was a Paralegal at ClearBank working in FCA and PRA compliance and strategic partnerships. He graduated as Best Honours Student in Scots and English Law from the University of Dundee.

  • Bartlomiej focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to joining Cranemere, Bartlomiej worked as Consultant at Simon-Kucher & Partners. He studied at University of Freiburg and received a Master of Science in Finance and Accounting from Warsaw School of Economics.

  • Guillaume joined Cranemere in 2021 after completing his MBA at INSEAD and focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to joining Cranemere, Guillaume was an Investment Banking Associate at Perella Weinberg Partners. He graduated from University College London (UCL) with a Bachelor of Arts in Economics and Political Science.

North America
New York & Washington DC
  • Christopher Mahan

    Senior Managing Director

    Christopher has been acquiring and building businesses for 30 years including 20 years working with Vincent Mai at AEA Investors where he retired as a Partner and CFO. He joined Cranemere at its founding and has led, co-led or been an integral executive with respect to the acquisition and development of 14 operating companies, including four of Cranemere’s operating businesses. He serves on the Board of Directors of Exemplis, Velocity Vehicle Group and Crossroads Equipment Finance and serves as Chairman of the Board of the Engineered Stone Group. Prior to Cranemere, he served as Chairman of the Board of both Convenience Food Systems and CPG International (now AZEK) and has served as a board member of virtually all the companies he has worked with. He started his career at Bain & Company and was an original partner of OceanBridge Partners.. He graduated from Amherst College with honors.

  • Vivake Bhalla

    Chief Financial Officer

    Vivake has 20 years of experience acquiring and building businesses. He focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to Cranemere, Vivake worked in management consulting for McKinsey & Company and as an investor in the clean energy, real estate and consumer sectors for Terra Firma Capital Partners and Qatar Holding. He has an MBA from Harvard Business School and a Masters in Engineering from Imperial College, London.

  • Evan Farber

    General Counsel

    Evan has more than twenty years of transactions, compliance, governance and legal experience, consisting of more than ten years as the Chief Legal Officer of The Advisory Board Company, which was a publicly-traded company focused on the health care and education industries until its successful sale. At The Advisory Board Company, Mr. Farber also managed its legal, privacy, information security, business affairs, real estate and information technology functions. Prior to The Advisory Board Company, Evan was a partner at Hogan & Hartson LLP (now Hogan Lovells). Mr. Farber is a graduate of Binghamton University (SUNY) and The George Washington University Law School.

  • Eric Minkove

    Senior Managing Director

    Eric has been acquiring, building and leading businesses for over 20 years. He leads Cranemere’s Healthcare Services team and serves as Chairman of NorthStar Anesthesia and Arietis Health and also serves as a board member of Extant Healthcare. Prior to Cranemere, Eric was the CEO of PSA Healthcare (now Aveanna), BestPractices and a Partner with TPG Growth and Portfolio Logic. He holds an MBA from the Kellogg School of Management at Northwestern University and a BBA from James Madison University. Eric serves as a member of the board of the HSC Healthcare System (a nonprofit serving children with medical complexity affiliated with Children’s National) and resides in Washington DC with his wife, Lilly, and their three children.

  • Diana Propper de Callejon

    Managing Director

    Diana has over 20 years of experience backing and building purpose-led companies. She focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to Cranemere, Diana was co-managing partner at Expansion Capital Partners, providing growth capital and was a board member of companies in sustainability markets including green building, energy services, and resource efficiency. She has an MBA from Harvard Business School and a Bachelor of Arts from Duke University.

  • Sanford Krieger

    Special Counsel

    Sandy has been advising private holding companies and investment vehicles for more than 35 years with a focus on legal strategies, fundraising, deployment of capital, compliance, regulation and governance. He was a senior partner in the New York and London offices of Fried Frank, was a partner and General Counsel at AEA Investors from 2003- 2013, and has been with Cranemere since 2013. He is a graduate of Harvard Law School and Cornell University.

  • Amy Stout

    Operating Partner

    Amy is an Operating Partner and is also serving as the Interim President of Clinical Services at Cranemere operating company, NorthStar Anesthesia. She also serves on the Board of Directors for NorthStar. Prior to joining Cranemere, Amy served as the CEO of Advisory Board Research (a division of Optum), which provides research, best practice solutions, data and analytics, and expert support to health care organizations. In this role, Amy was responsible for strategy development, product development, sales and client management, recruiting and retaining key talent, and managing a team of over 500. Amy earned an MBA from the Graduate School of Business at Stanford University and a BS from the University of California at Santa Barbara.

  • Minesh Mistry

    Principal

    Minesh has nearly 20 years of experience as an investor, entrepreneur and operator. He focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to Cranemere, he co-founded a consumer technology business that was acquired by Groupon and spent nearly a decade as an investor at General Atlantic focused on healthcare technology and services. Minesh began his career at Morgan Stanley. He holds an MBA from Harvard Business School, an MPA from Harvard Kennedy School, and a Bachelor of Science of Public Health with Honors from UNC-Chapel Hill.

  • John Morley

    Principal

    John has more than ten years of experience investing in and advising businesses. He focuses on identifying, evaluating and partnering with Cranemere's operating companies. John works closely with Exemplis, Velocity Vehicle Group and Crossroads Equipment Finance. Prior to Cranemere, John spent several years at Greenbriar Equity Group, a private equity firm focused on investments in the logistics, distribution and transportation sectors. John began his career at Citigroup in its investment banking division. He graduated summa cum laude with a Bachelor of Science in Economics from the University of Pennsylvania's Wharton School, with a concentration in Finance.

  • Jackie Kier

    Senior Vice President

    Jackie focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to Cranemere, Jackie served as a Senior Policy Advisor at the National Economic Council (NEC) at The White House in the Obama Administration, working alongside Jeffrey Zients. Jackie began her career working in financial services at Bank of America Merrill Lynch and Jefferies & Co. She has an MBA from The Wharton School and an AB from Dartmouth College.

  • Shilpa Rao

    Director, Health Care

    Shilpa is focused on optimizing performance within Cranemere's healthcare operating companies. Prior to Cranemere, Shilpa was in the Corporate Strategy and New Product Development group at the Advisory Board Company. Shilpa began her career at McKinsey & Company, specializing in healthcare. She holds an MBA from The Wharton School, a Master of Science from The London School of Economics, and a Bachelor of Science in Molecular Genetics from the University of Rochester.

  • Hannah Wang

    Senior Associate

    Hannah focuses on identifying, evaluating and partnering with Cranemere’s operating companies. Prior to joining Cranemere, Hannah was a Private Equity Associate within The Carlyle Group’s U.S. Buyout fund, where she focused on investments in industrials and transportation. Hannah began her career at Centerview Partners in its generalist M&A practice. She holds a Bachelor of Arts in Economics from Dartmouth College.

  • Nick O’Mara

    Senior Associate

    Nick focuses on identifying, evaluating and partnering with Cranemere’s operating companies. Prior to Cranemere, Nick was an Associate at Global Infrastructure Partners, where he focused on investments in the transportation and energy infrastructure industries. Nick began his career at Credit Suisse in its Industrials investment banking practice. He holds a Bachelor of Arts in Political Science from Haverford College.

  • Fiona Lam

    Associate

    Fiona focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to joining Cranemere, Fiona worked in investment banking in Morgan Stanley's Consumer Retail Group. She received a Bachelor of Science in Economics from the Massachusetts Institute of Technology, where she graduated Phi Beta Kappa.

  • Charlie focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to joining Cranemere, Charlie was an Investment Banking Analyst in the Global Industrials Group at Jefferies. He graduated summa cum laude with a B.A. in Economics from Vanderbilt University.

  • Lillian Jin

    Associate

    Lily focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to joining Cranemere, Lily was an Investment Banking Analyst at Rothschild & Co in its Industrials and Business Services Group. She graduated from Dartmouth College with a Bachelor of Arts in Economics.

  • Max Mangum

    Associate

    Max focuses on identifying, evaluating and partnering with Cranemere's operating companies. Prior to joining Cranemere, Max worked for Barclays' Investment Banking Division in both Los Angeles and New York, most recently in the Global Healthcare Group. He received a Masters in Management Studies from Duke University's Fuqua School of Business and a B.A. in Economics from the University of Virginia.

Our Shareholders

Our shareholders are individuals, families, and institutions from the United States, Europe, the United Kingdom, Latin America, and the Middle East.

Many of our shareholders have built businesses over multiple generations. They share our vision of long-term value creation and play an active role by lending their expertise.

Our shareholders have joined us because we manage risk carefully with conservative leverage; our model is a highly cost-efficient model for compounding free cash flow; we have an engaged, shareholder-led governance structure; aligned management incentives; and a long-term orientation that builds greater value in our companies.

Our Story

Strong foundations

A conversation with Vincent

Q: What inspired you to found Cranemere?

A lifetime in finance and building businesses has taught me that, in an increasingly complex and uncertain world, among the best ways to create value is to own outstanding companies for the long-term.

The traditional private equity structure requires that you sell those businesses within three to five years, regardless of whether that’s the right decision for the business. In fact, many of the industry incentives encourage selling the best businesses quickly. That doesn’t make sense! Selling a business incurs substantial costs and is a significant distraction for management. For the private equity firm, it creates the problem of having to buy a new and equally good company when you have just sold an excellent business you knew very well.

Not only that, when you have a short-term mindset, commitments to innovation, expansion and the well-being of people and the environment are too often neglected – weakening both the businesses and society.

Cranemere was established to solve this problem. We have permanent capital in a corporate structure that enables us to focus on the best strategy to create value over the long-term and aligns the incentives of shareholders, management and the companies we partner with.

What’s in a name?

Vincent grew up next door to an iconic farm in South Africa called Cranemere, which is home to the national bird, the Blue Crane. The farm has been operated for seven generations by one family – each generation improving the farm before handing it on to the next. Our firm is inspired by this example of the power of private enterprise to steward lasting intergenerational growth with enduring values.