ST. LOUIS, MO – HBM Holdings 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 leading brands across a wide set of industries and applications. Aerofil was acquired by HBM in September 2017.
Wright currently serves as President and COO, and he will be succeeding Bob Dunaway, the company's founder, Chairman and CEO, who is retiring. 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 and Aerofil's Chairman. "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 DeCola.
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 30 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."
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, Wright held corporate development positions at Mastercard Worldwide and MARS Incorporated.
HBM Holdings is an investment and management company that acquires, supports and operates middle-market businesses in industrial products and services. Its portfolio of companies includes Mississippi Lime Co., Delavau LLC, Tru-Flex LLC, Schafer Industries and Aerofil Technologies.