West Chester, Ohio – Escort named David Thornhill as president/CEO to oversee “an aggressive strategic business plan” to maintain Escort’s domestic market dominance and expand its international presence, the company announced.
Thornhill, who hails from Igloo Products, “will oversee all operations and activities” and will collaborate on the business plan with Monomoy Capital Partners, a New York City-based private-equity investment firm that acquired Escort last October .
Escort is preparing “an aggressive product launch plan” beginning in September to support the November/December holiday shopping season, the company said.
At Igloo, Thornhill was hired in February 2013 as executive VP/COO. Before that, he directed operations, marketing and product management at Black and Decker, Fruit of the Loom, The Coleman Company and Tupperware, Monomoy said.
John Stewart, managing director of Monomoy, said Thornhill’s “combined experience across operations and product marketing, along with his international collaborations and demonstrated leadership skills” represent “the ideal fit to direct the ongoing strategy of aggressively growing Escort.”
Monomoy is focused on value investing and business improvement and also owns other automotive-market companies. The company “implements customized business improvement programs at its portfolio companies that reduce operating expenses, increase profitability and support profitable growth,” the company’s web site says.
Over the past five years, Monomoy has closed more than 40 middle-market acquisitions, and its companies generate more than $1.2 billion in combined sales.
Escort markets radar detectors under the Escort and Beltronics in the U.S. and is expanding its presence in international markets such as China and Russia.
When it was purchased by Monomoy, Escort employed more than 200 people in its manufacturing facility and corporate offices.