Wellspring Capital Management Appoints Robert Craycraft as CEO of Cadence Group Effective Jan. 17, 2022.

 Cadence Group today announced that Robert Craycraft has been selected as Cadence Group's new chief executive officer. Robert will assume the role on Jan. 17, 2022. "I am honored to take on the role of CEO and lead this terrific business and talented team," Craycraft said. "Leveraging my 30 years of experience in building distribution businesses, I look forward to working across our footprint to deliver superior customer service to our customers and delivering meaningful value to our key stakeholders."Robert succeeds Bradley P. Johnson as part of planned succession for the company.  Brad will remain on the Cadence Board of Directors but will step back from day-to-day duties to focus on personal health matters."I am delighted to turn the company leadership over to Robert. Robert is a seasoned CEO with significant lubricants industry and acquisitions experience, who will not only step right into the CEO role but also accelerate the company's growth. He is an outstanding choice for the position," said Johnson."Robert brings a stellar track record of growing both public and private companies. His petroleum products background, coupled with his experience in growing businesses as a CEO, make him a uniquely qualified choice to lead Cadence," said Alex Carles, Managing Partner of Wellspring Capital Management. Prior to his appointment to the role of Chief Executive Officer of Cadence Group, Robert served as CEO and Director of BearCom. Prior experience also includes CEO and Director of BakerCorp and Safety-Kleen, both PE-backed companies. Robert started his career at Ashland and spent 18 years leading multiple businesses within Valvoline. His last position was President of Ashland Distribution. Robert is forward-thinking and has a proven track record of building both organic and M&A growth, as well as expanding organizations' capabilities. Robert grew up in Ashland, KY, and holds a bachelor's degree in Economics from Vanderbilt University. Robert and his family will relocate to Charlotte, NC. About Cadence GroupCadence Group is one of the largest distributors of lubricants, fuel, antifreeze, diesel exhaust fluid, and other ancillary products for the eastern and central United States. For additional information, please visit www.cadencepetroleum.com.Source: https://www.newswire.com/news/wellspring-capital-management-appoints-robert-craycraft-as-ceo-of-21597120

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