The 2020 Mid-Year Economic Update_long

Harvest Partners Acquires FCX Performance

FCX will continue its strategy of growth via acquisition in the flow controls distribution space.

Harvest Partners, LP, a New York-based private equity firm, has acquired FCX Performance Inc., in partnership with management, from Sterling Investment Partners.

\"TheDownload a Free Chapter:
The Little Black Book of Strategic Planning for Distributors

Submit your email address below to receive a chapter of Brent Grover’s new book. When you submit your email you will be signed up to receive weekly distribution news updates.

\"\"

Sterling will maintain an ownership stake in the company.

FCX, Columbus, OH, is a specialty process flow control distribution company. The company’s target end markets include chemicals; upstream, midstream and downstream oil and gas; power; steel; pulp and paper; pharmaceuticals; food and beverage and general industrials. 

FCX is No. 37 on MDM’s list of the top 40 industrial distributors. It has been growing rapidly via acquisition in recent years, growing its geographic reach with 13 acquisitions since it was formed in 1999. It has 24 locations serving 32 states.

FCX also provides complementary products including valves, instruments, pumps, hoses, fittings and process flow control equipment, supported by technical expertise, integration, repair and ancillary services. 

FCX’s management team, including founder and CEO Charles M. Simon, President and CFO Charles Hale, Executive Vice President Chris Hill and CIO Russ Frazee, has been in place since 1999 and will continue to lead the company and maintain a significant investment.

Hale was featured on a panel in the recent MDM Webcast, the 2012 Distribution M&A Update. Get a copy of that webcast here.

“With the support of Harvest, FCX will accelerate its long-held strategy of expanding its geographic footprint and broad portfolio of mission-critical products and services through both organic and acquisition growth initiatives,” said Simon.

“As an industrial distributor focused on the process and energy verticals, FCX is positioned at the intersection of two investment focus areas in which Harvest has a longstanding commitment," said Christopher D. Whalen, managing director at Harvest. "… Support for FCX’s continuing role as a leading consolidator of the flow controls industry is a central tenet of our investment strategy.”

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.