INDIANAPOLIS--(BUSINESS WIRE)--Gearbox Holdings, Inc, today announced David Coolidge has been named Chief Executive Officer. Current President and CEO Steven Crain will remain with the company as President and Chief Operating Officer. Under the Raybestos, Allomatic and Steel Parts brands, Gearbox designs, manufactures and distributes a diversified portfolio of transmission, wet-wheel braking and steering components, with a focus on friction and reaction clutch plates facilitating automated gear changes. Gearbox is a market leader known for innovation, quality and reliability in providing solutions for the world’s foremost aftermarket distributors, automotive OEMs, Tier I auto and industrial suppliers, heavy-duty transmission and wet-wheel brake manufacturers.
“This next phase of growth for Gearbox will be exciting as we will aggressively add scale and capabilities to our already unique vertically integrated platform. We will create even greater value for our OEM and aftermarket channel partners by offering better solutions and service.”
“I am honored and very pleased to lead Gearbox,” said Coolidge. “This next phase of growth for Gearbox will be exciting as we will aggressively add scale and capabilities to our already unique vertically integrated platform. We will create even greater value for our OEM and aftermarket channel partners by offering better solutions and service.”
Gearbox is owned by Monomoy Capital Partners, L.P., a New York private equity fund focused on value investments and business improvements. Coolidge has also been appointed a member of the Board of Directors of Holley, another Monomoy portfolio company.
Prior to joining Gearbox, Coolidge was Bosch Group’s Executive Vice President - Americas, one of four global division board members for the Bosch Group’s $6 billion global Automotive Aftermarket Division, and was headquartered at the Bosch Aftermarket facility in Broadview, IL. In 2009, he also had assumed co-responsibility for the global Braking Components business unit, and served as Chairman of Robert Bosch, Inc. - Canada, since 2003. Coolidge was also a past board member of MEMA, AASA, and MERA.
Gearbox Holdings is headquartered in Oakbrook Terrace, IL. and operates 4 plants in Indiana, including two in Sullivan, one in Tipton and one in Crawfordsville. It employs over 500 team members throughout the United States and abroad.
About Monomoy Capital Partners
Monomoy Capital Partners is a private equity firm with $700 million in committed capital under management that makes controlling equity investments in middle market businesses in the manufacturing, distribution, consumer product and food service industries.
Over the past five years, Monomoy has closed over 40 middle market acquisitions, and its companies currently produce over $1 billion in combined sales and employ more than 4,500 people across four continents, from North America to Asia. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth.
Please visit www.mcpfunds.com for a detailed review of Monomoy and its portfolio.