Renowned Crane Industry Expert, Steve Filipov, Joins Crane 1 Services Board of Directors

CINCINNATI--(BUSINESS WIRE)--Crane 1 Services, a national leader in overhead crane services and solutions, is pleased to announce the appointment of Steve Filipov to its Board of Directors effective November 1, 2023. With a distinguished career and extensive experience in the industrial crane equipment and services sector, Mr. Filipov’s addition to the board brings a wealth of expertise and strategic insight to help the company deliver its strategic objectives. Mr. Filipov will provide strategic counsel to Crane 1’s Board of Directors and executive team.

Mr. Filipov is widely recognized for his outstanding contributions to the industry, having held CEO and President roles at Manitex, Terex and DeMag. His track record of success in leadership roles, coupled with his deep knowledge of industrial crane equipment and services align well with Crane 1’s goal of being the leading independent MRO organization.

“We are thrilled to welcome Steve Filipov to our Board of Directors,” said Thomas Boscher, President and CEO of Crane 1 Services. “His exceptional industry insights, network, and leadership will be instrumental in guiding our company’s growth and strategic direction. We believe Steve’s addition will further strengthen our position as a leader in the crane services sector and position us for outsized growth and value creation.”

Mr. Filipov expressed his enthusiasm about joining Crane 1 Services, stating,

“I am honored to be part of the Crane 1 Services team and look forward to contributing to the company’s continued success. Crane 1 Services has a well-deserved reputation for excellence in the industry, and I am excited to be a part of its future.”

Steve Filipov’s appointment underscores Crane 1 Services’ commitment to enhancing its leadership team, increasing market exposure, and positioning the company for continued expansion and success both organically and through strategic M&A.

About Crane 1

Crane 1 is a leading provider of overhead crane MRO services and equipment that maximize safety, diminish liability, reduce maintenance costs, and increase overall productivity. The Company offers a full suite of services, including OSHA mandated inspections, maintenance, repair, design and installation of overhead crane systems and below-the-hook lifting devices. Additionally, Crane 1 operates a leading ecommerce site branded “Hoist Central,” providing customers with the highest level of service on hard-to-find controls and parts. Crane 1 is headquartered in Cincinnati, OH and operates across 17 states. For additional information, please visit www.crane1.com or www.hoistcentral.com

About L Squared Capital Partners

L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering, or market timing. The principals of L Squared have worked together for over a decade and have over 100 years of combined experience investing in growing private companies. For additional information, please visit www.LSquaredCap.com.