RECENT RELEASESFCX Performance, Inc.
FCX Performance (“FCX”) was a leading industrial, specialty process flow control distribution company, providing technical, mission-critical products and value-added services to more than 15,000 end users, original equipment manufacturers and engineering and construction firms across the process, energy and high purity industries. The Company’s target end markets included chemicals; upstream, midstream and downstream oil and gas; power; steel; pulp and paper; pharmaceuticals; food and beverage and general industrials. FCX provided a broad array of complementary products including valves, instruments, pumps, hoses, fittings and process flow control equipment, supported by technical expertise, integration, repair and ancillary services.
Harvest Partners Investment
In October 2012, Harvest purchased FCX with the existing management team. To fund the acquisition Harvest arranged the debt financing, which included a senior credit facility and a mezzanine note. In addition, Harvest underwrote and syndicated equity co-investment capital. Harvest sold its investment in FCX to Applied Industrial Technologies (NYSE: AIT) in January 2018.
- Attractive, differentiated position in supply chain
- Stable, recurring business model with solid cash flows
- Diverse end markets and customers
- Scalable platform with first class senior management team