Sterling Investment Partners, Westport, CT, a middle-market private equity firm, has acquired a majority stake in FCX Performance, Inc., Columbus, OH, a specialty flow control distributor serving the industrial valve and automation, and process instrumentation markets. Charles Simon, the founder of FCX, and other senior management will continue to lead the business.
William Macey, Jr., a Sterling managing partner, said: We consider FCX a very attractive investment. The vast majority of the company’s revenues are recurring in nature. The company has a unique position as a leader in specialty flow control distribution, with an unusually large geographic footprint, excellent technical support capabilities, and sticky customer relationships. FCX has a committed, highly …
Majority Stake of FCX Acquired by Private Equity Firm
Sterling Investment Partners, Westport, CT, a middle-market private equity firm, has acquired a majority stake in FCX Performance, Inc., Columbus, OH, a specialty flow control distributor serving the industrial valve and automation, and process instrumentation markets. Charles Simon, the founder of FCX, and other senior management will continue to lead the business.
William Macey, Jr., a Sterling managing partner, said: We consider FCX a very attractive investment. The vast majority of the company’s revenues are recurring in nature. The company has a unique position as a leader in specialty flow control distribution, with an unusually large geographic footprint, excellent technical support capabilities, and sticky customer relationships. FCX has a committed, highly …
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