Angeles Equity co-founders Timothy Meyer and Jordan Katz.

Angeles Equity co-founders Timothy Meyer and Jordan Katz.

Santa Monica-based Angeles Equity Partners has sold two portfolio businesses in recent weeks as the private equity firm continues to scale platform companies purchased this summer focused on aerospace manufacturing and medical-related environmental services.

In the most recent sale, the Emcor Enclosures unit of Angeles Equity-backed Crenlo Engineered Cabs, a Rochester, Minn.-based manufacturer of engineered operator cabs and rollover protective structures for heavy equipment and off-highway vehicles, was sold to an affiliate of New York-based private equity firm JLL Partners.
Terms of the Oct. 19 transaction were not disclosed.    


On Oct. 6, Angeles Equity also completed the sale of Santa Clara-based circuit cardboard-maker APCT Inc. to an affiliate of San Francisco-based private equity firm Industrial Growth Partners.

 
The two latest portfolio sales — Emcor and APCT — follow several similar moves over the summer as Angeles Equity focused on platform businesses, which are businesses private equity firms use to make bolt-on acquisitions to build scale.
In June, Angeles Equity acquired Primus Aerospace, a Lakewood, Colo.-based aerospace company. The purchase is significant for Angeles Equity because it is the firm’s first in the aerospace industry.

 
In July, Angeles Equity bought Xanitos Inc., a provider of outsourced environmental services to hospitals and other acute care facilities — another platform company that the private equity firm plans to scale through acquisitions.

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