Positions ILC Dover for Continued Growth in Design and Production of Solutions for the Life Sciences and Advanced Technologies Industries
FREDERICA, Del. & NEW YORK–(BUSINESS WIRE)–ILC Dover announced today that Corey Walker, an experienced executive in life sciences, advanced technologies and applied materials, will join ILC Dover as Chief Executive Officer effective November 15, 2021. Mr. Walker had previously worked closely with New Mountain Capital from 2016 to 2020 while he was a senior executive at Avantor, where he served as Executive Vice President of the Americas, as well as the global Biomaterials and Electronic Materials businesses. Mr. Walker brings nearly two decades of experience accelerating the growth of life sciences and advanced materials businesses.
Mr. Walker’s extensive leadership experience and demonstrated ability to build successful organizations and businesses complement ILC Dover’s accelerated growth trajectory and transformational journey. Following ILC Dover’s acquisition of Flexan in August, Mr. Walker will lead a combined company of more than 1,900 employees with significant opportunities to serve a broad client base in the biopharmaceutical, pharmaceutical and medical device end markets.
“Corey has a proven track record of driving profitable revenue growth, and his operational and strategic experience in life sciences makes him the right next leader for ILC Dover,” said Andre Moura, Managing Director at New Mountain Capital. “We look forward to working with Corey again as we continue to develop, enhance and expand our industry-leading product portfolio to better serve our customers.”
“I am delighted to welcome Corey as ILC Dover’s next CEO. He is a seasoned executive and his experience across several Fortune 500 companies makes him uniquely suited to lead the company,” said Bjorn Hofman, Senior Advisor at New Mountain Capital and Chairman of the ILC Dover Board of Directors. “Under the leadership of Fran DiNuzzo since 2014, ILC Dover has transformed into a world leader in the innovative design and production of engineered products and become a trusted partner to customers in the Biopharmaceutical, Pharmaceutical, Medical Device, Advanced Technologies and Space industries. On behalf of the company and Board of Directors, I would like to thank Fran for his outstanding contributions as CEO, and I look forward to continuing to work with Fran as he will remain on the board of directors.”
“After the acquisition of Flexan, ILC Dover is an established leader in providing mission-critical engineered solutions to the biopharma, pharma and medical devices markets. The deep heritage of world-class manufacturing, customer partnership and product innovation support a vision of creating the premier supplier of high-performance flexible materials across life sciences, space and advanced technologies,” Walker said. “I look forward to working with the team at ILC Dover and New Mountain Capital to drive the next chapter of growth of the company.”
In addition to Avantor, Mr. Walker has held leadership roles at DCP Midstream, Halliburton Energy Services, Dow Chemical and Dell Technology. He holds a bachelor’s in marketing and business management from Brigham Young University, and an MBA from Harvard Business School.
ILC Dover (inclusive of the acquired Flexan organization) is recognized as a trusted, long-standing leader in designing and manufacturing high-performance flexible materials for life critical applications. Since their founding in 1947 (ILC Dover) and 1946 (Flexan), both companies have established themselves as leading innovative and engineered solutions providers to their client partners, and together leverage their respective expertise and capabilities to serve a broad client base, particularly in the biopharmaceutical, pharmaceutical and medical device end markets. ILC Dover is best known for its product portfolio of mission-critical applications including single-use products for pharmaceutical and biopharmaceutical research, development and production processes as well as a range of solutions for human space flight. Flexan is a full-service leading contract design and manufacturing organization (CDMO) specializing in high-precision silicone, rubber, and thermoplastic components for the medical device industry. ILC Dover was acquired by New Mountain in February 2020 and Flexan was acquired by ILC Dover in August 2021.
About ILC Dover
ILC Dover is a world-leader in the innovative design and production of solutions for biopharmaceutical, pharmaceutical, medical device markets as well as a leading supplier for the (aero)space industries. Our customers will attest to our relentless dedication to high value products, advanced technology, and responsive service, as our visionary solutions have improved efficiency while safeguarding people, product, and infrastructure in hazardous conditions through flexible protective solutions since 1947. For more information on ILC Dover, please visit www.ilcdover.com
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $35 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
Contacts
New Mountain Capital
Dana Gorman / Matthew Butler
(212) 371-5999
dtg@abmac.com / msb@abmac.com