Sale to Applied Industrial Technologies

Industrial
Sale to Applied Industrial Technologies

Summary

Baird served as lead financial advisor to FCX Performance, Inc. on this transaction

About

FCX Performance, Inc. (“FCX”), a portfolio company of Harvest Partners, LP (“Harvest Partners”), recently completed its sale to Applied Industrial Technologies (“Applied”) (NYSE: AIT) for approximately $784 million.

FCX is a leading distributor of specialty process flow control products and services. FCX’s comprehensive value-added solutions help customers improve cost productivity, reduce downtime, increase efficiency and effectively meet increasing regulatory compliance standards. FCX is based in Columbus, Ohio.

Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest Partners focuses on acquiring profitable companies in the industrial services, manufacturing and distribution, business services and consumer, and healthcare services sectors. This strategy leverages Harvest Partners’ more than 35 years of experience in financing organic and acquisition-oriented growth companies. Harvest Partners is based in New York, New York.

Founded in 1923, Applied is a leading distributor of bearings, power transmission products, engineered fluid power, specialty flow control solutions, and other industrial supplies, serving MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, fluid power, and flow control shop services. Applied also offers storeroom services and inventory management solutions that provide added value to its customers. Applied is based in Cleveland, Ohio.
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Industrial
Sale to Applied Industrial Technologies
Date
January 2018
Company
FCX Performance, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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