Innofiber appoints CEO with track record of growing B2B medical device and industrials businesses
STERLING, Mass., Jan. 12, 2023 /PRNewswire/ — Innofiber, a leading supplier and manufacturer of fiber optic cables and engineered photonic solutions, announces that Dustin T. Gorman will now lead the organization as Chief Executive Officer.
Mr. Gorman said: “I am thrilled to be joining the Innofiber team. Thanks to Innofiber’s commitment to innovative technology, lean manufacturing practices, and the leadership of the management team, the company is poised to scale to meet the needs of its customers and further its leadership in engineered photonic solutions. Innofiber has a strong tradition of delivering advanced, modern solutions for their customers’ most complex product needs, and I am excited to help take the company to the next level.”
Mr. Gorman’s experience has equipped him with a strong understanding of the dynamic market landscape and the ability to expand Innofiber’s business within it. He brings a wealth of experience in the medical device, semiconductor and industrial markets as a business leader and engineer. He joins Innofiber from Prodrive Technologies, a manufacturer of high-tech electronics, software, and mechatronic products and systems, where he was General Manager for Prodrive Technologies North America. In his role, Gorman helped launch Prodrive’s U.S. business, oversaw the buildout of a new North American Regional Headquarters in Canton, Massachusetts, and won several new major OEM applications across Power Conversion, Motion & Mechatronics, and IoT technology/product programs. Prior to Prodrive, Gorman spent over 9 years at Analogic, a leader in healthcare and security technology solutions for the medical sector, as Director of Business Development and Application Engineer, where he worked with multiple leading medical device, motion control, and robotics players. Before Analogic, Gorman served as Electro-Optical Laser Ordnance Section Chief for the U.S. Marine Corps and held engineering positions at Copley Controls Corp and in the U.S. Marine Corps Reserve.
Franklin Foster, Partner at Essex Bay Capital said: “Dustin has a track record of driving growth and creating value for a range of medical and industrial customers, and his deep technical knowledge makes him an ideal partner for Innofiber’s customers and other leaders in these dynamic markets. Together with Dustin, we look forward to scaling Innofiber organically and through acquisitions.”
Gorman received an MOS in Electro-Optical Laser Ordnance from the U.S. Army Ordnance Center and School, a BSEET in Electronics Engineering from the New England Institute of Technology, and an MBA from the D’Amore-McKim School of Business at Northeastern University.
About Essex Bay Capital
Essex Bay invests in small to mid-sized private companies, partnering with management to accelerate growth. Founded in 2021, the firm targets platform companies of $1-10M EBITDA at close, or $1-10M ARR for SaaS businesses. With 20+ years of investing experience, and 70+ completed acquisitions, the Essex Bay team brings proficiency in building companies organically and through acquisitions to create sustainable value. Learn more at essexbay.com.
Innofiber is a leading OEM manufacturer and supplier of laser and illumination fiber optic cables, probes, and sub-assemblies. Innofiber’s engineered photonic solutions and unique fiber optic product designs enhance performance outcomes for OEM partners by combining ingenuity and intelligent technology. Offering a wide range of custom high-volume disposable and non-disposable products designed for manufacturability unique to customer marketing demand, Innofiber is committed to LEAN manufacturing principles and delivering the latest technology to design solutions for their customers’ most complex cabling and sub-assembly product challenges. Innofiber maintains ISO 9001:2015 and ISO 13485:2016 certifications that provide for the highest quality management standards and most stringent application requirements.