President & CEO, LMI
Under Doug Wagoner’s leadership, LMI successfully separated from its former nonprofit parent, which opened up more growth opportunities such as the recent acquisition of Synaptech.
To facilitate the innovation needs of its customers, it’s crucial to understand all operational domains separate yet interdependent, ranging from the ocean floor and surface to air, land, cyberspace and space. With the Synaptech acquisition, LMI expanded its capacity to maintain a comprehensive and extensive understanding of multidomain operations.
“When we invested in LMI, we were really backing Doug and his remarkable team,” said Elliot Wagner, partner and co-head of growth equity at Declaration Partners. “Doug is a visionary leader who understands the power of culture. He has built upon LMI’s 60-year tradition of mission focus and fostering a career destination for employees. This in turn leads to a cohesive, innovative environment with low turnover and makes LMI an attractive business partner.”
In 2023, LMI will be heavily focused on additional strategic acquisitions to deepen its capabilities within the industry and further diversify its customer portfolio.
“I am excited for LMI in our first full year as a for-profit organization,” Wagoner said. “You are going to see updated branding soon that reflects our passion when it comes to innovation and time to value for our customers. Our unique rapid prototyping capability allows us to engage customers with prototypes, not PowerPoint.”