July 16, 2018
Hidden Harbor Capital Partners Backed Cloyes Gear & Products Appoints Chief Executive Officer
FORT SMITH, Ark., July 16, 2018 – Cloyes Gear & Products, Inc. (“Cloyes” or the “Company”), which is backed by Hidden Harbor Capital Partners (“Hidden Harbor”), has hired John Bohenick as Chief Executive Officer, effective July 16th. Based in Fort Smith, Ark., and founded in 1921, Cloyes is a global leader in the design, development, manufacturing, and distribution of timing drive systems and components for replacement applications in the automotive aftermarket and high-performance racing segment.
Mr. Bohenick joins Cloyes with over 30 years of experience in the automotive industry. Most recently, he served as Chief Executive Officer of Dayco, a manufacturer of engine products and drive systems supplier for the automotive, industrial and aftermarket industries. Prior to that, Mr. Bohenick served as President, SKF Sealing Solutions, a business unit of AB SKF, a global leader for design and manufacturing of bearings, seals, lubrication, mechatronics and services. He previously spent 20 years working for the Gates Corporation, a global manufacturer of power transmission and fluid power components, systems and services, in a variety of leadership roles culminating in being named President. His career also included working for General Motors on powertrain and vehicle systems. John holds a Bachelor of Science with Distinction in Mechanical Engineering from Cornell University.
“The Cloyes brand name is very strong and well recognized in the automotive aftermarket and I’m excited to have the opportunity to lead the organization,” said Mr. Bohenick. “With our talented employees, strong customer base, and industry-leading systems and products, we will execute our strategic plan and grow our business in the automotive aftermarket both in North America and globally. I look forward to sharing my experiences and contributing to the growth of Cloyes.”
“John’s deep industry knowledge combined with his proven executive experience and know-how on a global scale make him the perfect candidate to lead Cloyes during this exciting time in the company’s growth,” said Hidden Harbor Co-Founder David Block. “Cloyes is committed to providing the highest quality products and service to the automotive aftermarket and John’s leadership will ensure Cloyes continues to provide the innovation, quality, product breadth, brand support and customer service solutions that our aftermarket partners rely on to serve their customers.”
"We have made significant progress since being acquired by Hidden Harbor and spinning out of American Axle, and I'm excited for our next chapter of growth under John’s guidance," said Mick Jordan, president of Cloyes. "John brings a wealth of leadership and operational knowledge in the automotive aftermarket, and myself and the entire Cloyes management team look forward to working with John as we continue to serve our customers."
Cloyes, based in Fort Smith, Ark., is the North American leader and global designer, developer, manufacturer and distributor of timing drive systems and components for the automotive aftermarket. Its products are mission critical components for engine performance and function used in high-performance and replacement applications. Cloyes serves a broad customer base, including wholesale distributors, national and local retailers, re-packagers, and production engine builders, and sells its products under the Cloyes® brand throughout North America and Dynagear® in Mexico. To learn more, visit www.cloyes.com.
About Hidden Harbor Capital Partners
Hidden Harbor Capital Partners is a private equity firm with an operations soul and intense passion for building great companies. Hidden Harbor brings large-scale, private equity experience and resources to the lower middle market with a focus on value-oriented, operationally intense situations. Our principals are Investor Operators® who bring over 55 years of both extensive transaction and operating experience to truly understand your business. As one team, we partner and work hand-in-hand with our portfolio companies to drive business successes. To learn more, visit www.hh-cp.com.
Julia Bennett: (904) 534-4468 / firstname.lastname@example.org