ST. LOUIS, MO – April 3, 2018 – HBM Holdings (“HBM”) today announced that Daniel Wright has been appointed Chief Executive Officer of its portfolio company Aerofil Technology, Inc. (“Aerofil”). Aerofil is a contract manufacturer that fills aerosol and liquid containers for industry-leading brands across a wide set of industries and applications and was acquired by HBM in September of 2017.
Mr. Wright currently serves as President and COO, and he will be succeeding Bob Dunaway, the company’s Founder, Chairman and CEO, who is retiring. Mr. Wright was previously the Vice President of Corporate Development for HBM.
“We are thrilled that Daniel has accepted the appointment to oversee Aerofil’s next stage of innovation and growth,” said Mike DeCola, CEO of HBM. “Having led the Aerofil acquisition and integration, Daniel has been integral to customer and supplier relations, manufacturing improvements and team morale over the past six months. He brings to this role a strong commercial and general management background with companies such as Mars, Mastercard and Israeli Chemicals,” continued Mr. DeCola.
“I am proud to accept this opportunity to implement our plans to grow the business and to continue to deliver superior value to our customers,” said Mr. Wright. “Aerofil has a strong culture of continuous improvement and an employee base that is passionate about delivering value to all of our customers,” continued Mr. Wright.
Mike DeCola commented further, “Bob Dunaway co-founded Aerofil in 1988 with his partner, Jack Shelby, later adding Bob Macher as a third investor. Together they grew the business over the nearly thirty years of ownership. Mr. Dunaway graciously agreed to stay on post-closing to assure a smooth transition for HBM and for Mr. Wright. We are extremely grateful for his perspective and guidance,” continued Mr. DeCola.
Mr. Wright was appointed to lead Aerofil as President and COO at the time of the acquisition, having served as HBM’s Vice President of Corporate Development. Prior to HBM, he was with Israeli Chemicals Ltd., most recently serving as the Vice President of its Global Performance Chemicals Business Unit. In addition, Mr. Wright held corporate development positions at Mastercard Worldwide and MARS Incorporated. He received his MBA from Washington University Olin School.
ABOUT HBM HOLDINGS
HBM Holdings is an investment and management company that acquires, supports, and operates middle-market businesses in industrial products and services. Our strategy is to grow a diversified portfolio using a long-term buy and build approach. We provide our portfolio companies with professional management expertise, financial resources, and high potential human capital to accelerate their growth. Our firm targets new platform opportunities with EBITDA between $10mm and $25mm in the specialty-manufacturing sector, specifically in industrial equipment and components, energy equipment, transportation equipment (excluding light automotive) and chemical and minerals. HBM’s portfolio of companies includes Mississippi Lime Company, Delavau LLC, Tru-Flex LLC, Schafer Industries, and Aerofil Technologies. For additional information, please visit www.hbmholdings.com.
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