Charles V. Schaefer, Jr., 85, Entrepreneur and New Jersey Business Leader dies

Charles V. Schaefer Jr., an entrepreneur, well-known New Jersey business leader, chairman of Aeroil Products Company, and former Chairman of the Stevens Institute of Technology Board of Trustees, died on Nov. 18 in Boca Raton, Fla. He was 85 years old and resided in Saddle River, N.J.

Mr. Schaefer was born in Brooklyn, and raised in Hollis, Long Island, during the Great Depression. Participating in a scholarship/work program, he earned a degree in mechanical engineering (1936) from Stevens Institute of Technology in Hoboken, N.J. The work ethic he acquired at Stevens remained with him throughout life.

He began his career as an engineer at DeLaval Steam Turbine Company in Trenton, N.J. By the time he left to launch his own business he had become the plant's general manager.

In subsequent years, he built and directed several companies. He was vice president of the Friend Manufacturing Company of Gasport, N.Y., and president of Bennett Manufacturing Company of Alden, N.Y., in the early 1950s.

He acquired Aeroil Products Company Inc. in 1955 and became its chairman. Under his leadership and with his son, the company became the leading commercial roofing equipment manufacturer in the United States. It is now headquartered in Crossville, Tenn. Schaefer also was chairman of Muller Machinery Company, a nationally known concrete and mortar mixer manufacturer. More recently through Schaefer Associates, he was active in New Jersey Machine, a national pharmaceuticals equipment manufacturer, and was engaged in numerous venture capital enterprises.

An active force in New Jersey business circles, Schaefer had directed the New Jersey State Chamber of Commerce, and he formerly chaired the North New Jersey Chamber of Commerce. He also was the director and former chairman of New Jersey Manufacturers Insurance Co., and he chaired the New Jersey Business and Industry Association.

Reflecting on his love of work, Schaefer told friends he hoped he would never retire. And, true to his word, he never did. Just as he approached business with a competitive and tenacious spirit, he played tennis and golf with equal zest until his demise. He was an active member at the Ridgewood, Arcola, and Boca West Country Clubs as well as the Upper Ridgewood Tennis Club.

Maintaining good health had become a passion for him when coronary disease first threatened him a quarter century ago. Schaefer was one of the first candidates for heart bypass surgery in 1974, when the procedure was still experimental. The surgery and his recovery from it changed his life, making him a staunch proponent of low-fat diet and exercise, a regimen he encouraged others to follow.

Because of the opportunities his education at Stevens Institute of Technology provided, Schaefer was passionate about his alma mater. He served for more than 60 years in many capacities, including as a charter member, and eventually as chairman of its Board of Trustees. Schaefer said he had always believed that private education balances public education in research and teaching.

During the 1990s, he was instrumental in leading a Stevens’ fund raising campaign that brought in $102 million for the university, exceeding all goals and expectations. His own gifts and devotion to Stevens have left an important legacy. The university’s school of engineering and its athletic and recreation center are named for him, as is Stevens’ growing Schaefer Fund for Excellence, a multimillion dollar endowment used for research, major facilities and other top priorities of the university. Schaefer was instrumental in refocusing the engineering school’s academic programs toward problems that impact society. Stevens conferred on Schaefer two honorary degrees during his lifetime: an honorary doctor of engineering degree in 1979 and an honorary master of mechanical engineering degree in 1982.

Dr. Harold Raveche, the President of Stevens Institute of Technology, reflecting on Mr. Schaefer’s qualities, said that "Charlie represented the best of everything we try to instill in our students: honor, integrity, service and concern for others."

"Making a difference" was a legacy that was important to Schaefer.

Schaefer was married to Lillian Meyer Schaefer, who died in 1984. He is survived by his second wife, the former Stephanie Tactikos of Saddle River, N.J.; a son, Charles Schaefer III of Franklin Lakes, N.J.; a daughter, Lynn Ann Bovenizer of Pennington, N.J.; six grandchildren; and two great-grandchildren and a brother, Arthur Robert Schaefer.

About Stevens Institute of Technology

Founded in 1870, Stevens Institute of Technology is one of the leading technological universities in the world dedicated to learning and research. Through its broad-based curricula, nurturing of creative inventiveness, and cross disciplinary research, the Institute is at the forefront of global challenges in engineering, science, and technology management. Partnerships and collaboration between, and among, business, industry, government and other universities contribute to the enriched environment of the Institute. A new model for technology commercialization in academe, known as Technogenesis®, involves external partners in launching business enterprises to create broad opportunities and shared value.

Stevens offers baccalaureates, master’s and doctoral degrees in engineering, science, computer science and management, in addition to a baccalaureate degree in the humanities and liberal arts, and in business and technology. The university has a total enrollment of 2,150 undergraduate and 3,500 graduate students, with about 250 full-time faculty. Stevens’ graduate programs have attracted international participation from China, India, Southeast Asia, Europe and Latin America. Additional information may be obtained from its web page at www.stevens.edu.  

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