Quality Industries Names Three New Board Members
Quality Industries Inc. (QI), a precision metalworks company headquartered in La Vergne, Tenn., has expanded its board of directors by three.
The two new outside directors include Ralph W. Davis and Charles R. (“Rich”) Maddux, Jr. QI's President and CEO, Warren Hayslip, has also been appointed to the board.
Davis is a partner at Nashville, Tenn. and Chicago-based Cressey & Company LP (C&C), a private equity firm focused on building leading healthcare provider, service, and information technology businesses. As a C&C partner, Davis oversees acquisitions, divestitures, and provides oversight of portfolio companies—as well as legal, structural, regulatory, and financial matters relevant to the C&C funds and portfolio companies. Prior to joining C&C, Davis was in private law practice for more than twenty years.
Maddux is president and CEO at Hopkinsville, Ky.-based Propulsys Inc. (formerly White Hydraulics Inc.), a leading manufacturer of hydraulic drive products. Founded in 1977, the company has manufacturing facilities in Hopkinsville and China, and sales and distribution offices in the U.S., China, and Europe. In addition to the core hydraulic drive business, the Propulsys companies include White Staffing Management LLC, and a joint venture with Peerless Mfg. Co., Inc. Maddux oversees all operations of this privately held group of companies.
The outside board appointments come during a time of substantial investments in people and capital for the 42-year-old metalworks company.
"Ralph and Rich bring substantial and diverse experiences that will strengthen the corporate governance of our company," said Hayslip. "We are pleased to have them join our board as we continue implementing our $12.5 million capital program, make investments in equipment and technical capabilities, and position ourselves for future growth."