Penfund recently announced the appointment of Vange Proimos to the board of Plews & Edelmann. Proimos, past owner and CEO of AP Exhaust, has been an influential executive in the automotive aftermarket for many years.
“The board welcomes Vange and is extremely pleased with his acceptance of this position. Vange has been influential in helping us assess the market and has provided wise counsel in our evaluation of growth opportunities”, stated David Rashid, Chairman of the Board for Plews & Edelmann.
“Vange is a great addition to the board. His dynamic personality and deep connections in the automotive aftermarket provide Penfund and Plews & Edelmann a resource few in this industry have today”, stated Jeremy Thompson, Partner at Penfund. “We couldn’t be happier with Vange’s desire to help us grow Plews & Edelmann.”
About Penfund
Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund VI. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high net worth individuals and has invested more than $3 billion in over 225 companies since its establishment in 1979. Assets and capital under management currently total $1.6 billion.
