MEDINA, Ohio, Dec. 6 /PRNewswire-FirstCall/ -- Corrpro Companies, Inc. (Pink Sheets: CRRP) announced today that Douglas M. Kelley has been elected to its Board of Directors, effective December 5, 2006. Mr. Kelley fills the vacancy created by the recent resignation of Jeffrey N. MacDowell as the representative of American Capital Strategies, Ltd. ("ACS") to Corrpro's Board of Directors.
Mr. Kelley is a Vice President of ACS, a publicly traded buyout and mezzanine fund with capital resources of $8.9 billion. Mr. Kelley joined ACS in 2004 as an Associate in the Dallas office and was promoted to Vice President in 2006. He was an associate with JPMorgan's Los Angeles-based investment banking practice from 2000 to 2001, and with The Beacon Group, LP, a New York-based merchant banking firm, from 1998 to 2000.
In connection with ACS's investment in Corrpro in 2004, ACS received the right to appoint one director to Corrpro's Board of Directors. ACS selected Mr. Kelley to succeed Mr. MacDowell, a principal with ACS, as its director designee.
Jim Johnson, Corrpro's Chairman of the Board, stated, "We would like to thank Jeff MacDowell for his service on the Board since 2004. We are very pleased to welcome Doug Kelley as a member of Corrpro's Board of Directors, and we look forward to working with him."
Corrpro, headquartered in Medina, Ohio with over 30 offices worldwide, is the leading provider of corrosion control engineering services, systems and equipment to the infrastructure, environmental and energy markets around the world. Corrpro is the leading provider of cathodic protection systems and engineering services, as well as corrosion protection services relating to coatings, pipeline integrity and reinforced concrete structures.
Except for historical information, the matters discussed in this press release may include forward-looking statements relating to the business of Corrpro. Forward-looking statements are based on management's expectations as of the date hereof. Actual results may differ materially from those expressed or implied by forward-looking statements. The Company assumes no obligation to update any of the information contained or referenced in this press release.
