Proven Automotive Sector Executive Joins AAI to Drive Growth – Leveraging 30+ Years Operations Experience at Autoneum, Magna International and Johnson Controls.
Chicago Heights, IL – February 9, 2016 – Applied Acoustics InternationalTM (AAITM), a Tier 1 supplier of noise, vibration, and harshness (NVH) solutions to the North American automotive industry, today announced the appointment of Larry Hagood as chief executive officer. Mr. Hagood will lead efforts to establish a standalone business and position AAI for future growth. AAI is a portfolio company of Angeles Equity Partners, LLC, a private investment firm focused on value creation through operational transformation.
Prior to joining AAI, Hagood served as chief operating officer for Autoneum North America, a leading global producer of vehicle acoustic and thermal management systems. Mr. Hagood was responsible for leading the North American operations of Autoneum through the automotive downturn, and subsequently through a period of significant expansion. Previously, Hagood was VP Operations North America & Asia for Magna International, overseeing 2,500 employees at 7 plants with almost $1.5 billion in revenue. Hagood began his career at Johnson Controls.
“Larry is a very experienced automotive executive who brings the right skills and capabilities to position Applied Acoustics International to achieve its full potential,” said Timothy Meyer, co-founder and managing partner of Angeles Equity Partners.
“I am very excited to join the AAI team and collaborate with Angeles Equity Partners,” said Larry Hagood, CEO for Applied Acoustics International. “The Chicago Heights business has a strong reputation as a trusted supplier to North American auto makers. I look forward to helping the company realize its potential by working with the talented and dedicated team at AAI to deliver exceptional value and support to our customers.”
Larry Hagood earned a bachelor’s degree in business and operational management from Murray State University, and is a graduate of the Executive Program at Stanford University Graduate School of Business. Mr. Hagood has extensive experience implementing Lean Manufacturing and Toyota Production System principles across global operations.
About Applied Acoustics International
We engineer quietTM. Applied Acoustics International (AAI) is a Tier 1 supplier of noise, vibration, and harshness (NVH) solutions to the North American automotive industry. Based in Chicago Heights, Illinois, AAI occupies a leading market position within the NVH industry, specializing in damper and EVA barrier materials. Learn more online at www.aainvh.com.
About Angeles Equity Partners, LLC
Angeles Equity Partners is a private equity firm that invests in companies across a wide range of industrial sectors and specifically targets businesses which it believes can directly benefit from the firm’s deep expertise in operational transformation and strategic repositioning. This skill set drives the firm’s investment philosophy and, in its view, can help underperforming businesses reach their full potential. Learn more online at www.angelesequity.com.
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