October 1, 2020
HIDDEN HARBOR BACKED CLOYES GEAR & PRODUCTS APPOINTS NEW CHIEF EXECUTIVE OFFICER
FORT SMITH, AR, October 1, 2020 – Cloyes Gear & Products, Inc. (“Cloyes” or the “Company”), which is backed by Hidden Harbor Capital Partners, has hired John Hanighen as Chief Executive Officer, effective immediately. Based in Fort Smith, Arkansas, 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.
Prior to Cloyes, John served as Global Aftermarket Director and CEO of Quick Lane Tire & Auto Centers for Ford Motor Company. His responsibilities included strategic development and vision for the $1B+ global automotive aftermarket as well as for sales growth and profitability of Ford products including Ford OE product, Motorcraft and the new Omnicraft brand. John was also responsible for establishing new and lasting aftermarket relationships, while driving Ford Brand recognition and demand through the development of new sales and marketing programs.
“We are very excited to have John join the team at Cloyes. John is a proven leader, a strong communicator, and is well respected within the auto aftermarket industry. When we partnered with the Cloyes management team, our goal was to accelerate growth while continuing to deliver industry-leading quality and customer service,” said Chris Paldino, Managing Partner at Hidden Harbor. “With the addition of John, we know the company is well positioned to continue executing on this growth strategy and to more aggressively capitalize on Cloyes’ premium leadership position in automotive aftermarket timing systems.”
John holds a Master of Business Administration from Xavier University and will be relocating to Fort Smith, Arkansas from Novi, Michigan with his wife.
Cloyes, based in Fort Smith, AR, 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