Henniges Automotive Holdings, Inc. Announces Appointment Of Douglas DelGrosso As CEO
July 23, 2012 – Henniges Automotive Holdings, Inc., a leading provider of highly engineered sealing and anti-vibration systems for the global automotive market, today announced the appointment of Douglas DelGrosso, an experienced automotive industry executive, as Chief Executive Officer, effective August 1.
Mr. DelGrosso has nearly 30 years experience operating in the automotive industry, most recently serving with TRW Corporation as Vice President & General Manager of Global Braking & Suspensions. From 2007 to 2010 he oversaw TRW's North American Braking & Suspension Operations. Prior to TRW, Mr. DelGrosso was President and COO of Lear Corporation, where he served since 1984 in a number of executive positions. He is a graduate of Lawrence Technological University and received an MBA from Michigan State University.
Mr. DelGrosso commented, "I look forward to joining Henniges' strong management team and working with its associates around the world to continue building a global leader in sealing and anti-vibration systems. Henniges has a great culture of innovation and execution which I look forward to leading for the benefit of our customers and the Company."
Private investment firm Littlejohn & Co. acquired Henniges in 2010 and has since worked with the senior management team to expand its operations, identify and integrate select add-on acquisitions, and enhance its operations around the world. The company has grown and won significant new business as a result of these and other initiatives.
Michael Kaplan, a Managing Director at Littlejohn and member of the Henniges Board of Directors, said, "Douglas is a proven builder of businesses. We are confident that with his experience and management capabilities Henniges will achieve its mission of becoming a leading global supplier of sealing and anti-vibration systems. In addition, we would like to thank Larry Williams, who has been instrumental to us as Interim CEO during this transition." Mr. Williams will continue with Henniges as Chief Financial Officer.
Henniges provides automotive original equipment manufacturers (OEMs) with sealing systems for doors, windows, trunks, lift gates, sunroofs and hoods. The company also supplies the automotive market with anti-vibration products, encapsulated glass,and other rubber components. Henniges sells to all major Automotive OEM customers and operates facilities in the North America, Europe, and China. The company has 4,800 employees worldwide.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity and distressed securities firm focused on investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund IV, L.P., which has over $1.3 billion in capital commitments. For more information, visit www.littlejohnllc.com.