New President At Oilgear
Richard Armbrust has been named president and CEO of Oilgear Co., the Milwaukee, Wis.-based manufacturer of hydraulic pumps and other fluid power products and control systems for mobile and industrial applications. Armbrust has previously served as CEO of lnvensys PLC, Engage Networks and most recently, Renaissance Mark. He also held senior management positions at ABB Inc. and Square D Co. Along with Armbrust assuming his new position, Oilgear also recently entered into a capital partnership with Mason Wells, a Milwaukee-based private equity firm. With this new relationship, Armbrust indicated the company is possibly looking to increase market share through acquisition.