HBM Holdings Announces CEO Succession
ST. LOUIS--(BUSINESS WIRE)--Feb 7, 2019--HBM Holdings, a leading investment and management company in industrial products and services, today announced that the Board of Directors has appointed C. Anderson (“Andy”) Fincher as Chief Executive Officer, effective immediately. He succeeds Mike DeCola, who will transition to the role of Vice Chairman of the HBM Board.
Since September 2018, Fincher has served as HBM’s President and Chief Operating Officer, successfully assuming portfolio company management responsibilities. He joined HBM from Dover Corporation (NYSE: DOV) where he held several senior management and leadership roles over his career, most recently as President and CEO of Dover Engineered Systems.
“It has been a great honor to lead HBM Holdings, and to work alongside remarkable people across the business who make our accomplishments and success possible,” said DeCola. “Today’s appointment is the outcome of an orderly succession planning process by the Board over a multi-year period. Since joining HBM, Andy has capably overseen our operating companies and developed relationships with our customers, suppliers, employees and Board. I am confident he is the right person to chart the future course for HBM.”
From 1999-2016, DeCola served as CEO and President of Mississippi Lime Company. Under his leadership Mississippi Lime established a best-in-class safety record, developed a culture built around people development, consistently outpaced lime market growth, and advanced the industry through customer and innovation focus – resulting in the deepest specialty product offering in North America.
DeCola was instrumental in setting the vision for HBM Holdings, the investment and management company created to diversify and expand the business, which he has led since 2012. Today HBM Holdings includes four portfolio companies and over 2,000 employees, building on the operating principles established when Mississippi Lime was founded in 1907.
“I am thrilled and humbled to be leading HBM’s next chapter,” commented Fincher. “In the short time I have spent with our employees and within our operating companies, I have seen hard work and world-class performance rooted in a set of values that has endured for well over a century. I look forward to expanding and growing that legacy within our existing businesses and across new platforms. I also want to thank Mike for his support and ambassadorship during this transition, and I look forward to his continued contributions as Vice Chairman.”
About Andy Fincher, CEO
A veteran of industrial manufacturing, Andy Fincher began his career at The Heil Company in Chattanooga, TN (a portfolio company of Dover Corporation), ultimately rising to the role of President and CEO over his 15-year tenure.
In 2009, Fincher was named Executive Vice President of Dover Industrial Products, and in 2014 he became President and CEO of Dover Engineered Systems, the company’s largest operating segment by revenue. In that role, he oversaw 10 operating companies with over 8,500 global employees and executed eight platform acquisitions over three years.
Fincher holds a BS in Mechanical Engineering from Tennessee Technological University and an MBA from the University of Tennessee. Fincher and his wife have three children.
ABOUT HBM HOLDINGS
HBM Holdings is an investment and management company that acquires, supports, and operates middle-market businesses in industrial products and services. The firm’s strategy is to grow a diversified portfolio using a long-term buy and build approach. HBM provides our portfolio companies with professional management expertise, financial resources, and high potential human capital to accelerate their growth. HBM invests in high-performing companies 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, Tru-Flex, Schafer Industries, and Aerofil Technology. For additional information, please visit www.hbmholdings.com.
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CONTACT: Amy Fields
Vice President & Chief Human Resources Officer
KEYWORD: UNITED STATES NORTH AMERICA MISSOURI
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING PROFESSIONAL SERVICES FINANCE
SOURCE: HBM Holdings
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PUB: 02/07/2019 09:00 AM/DISC: 02/07/2019 09:01 AM