November 2, 2017
NEW YORK, November 2, 2017 – One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has completed the previously announced acquisition of FXI Holdings, Inc. (“FXI”). Financial terms of the transaction were not disclosed.
Headquartered in Media, Pa., FXI is a leader in providing innovative foam solutions driven by consumer insights and state-of-the-art research and development. FXI’s foam products are used in a variety of end markets including bedding, furniture, transportation, medical, filtration and acoustics.
President and CEO John Cowles will continue to lead the Company. “We are thrilled to partner with One Rock as FXI embarks on the next phase of growth. One Rock’s vision combined with strategic resources and focus on manufacturing excellence is expected to accelerate FXI’s growth initiatives and continue to build our product pipeline with innovative high-quality products.”
Tony W. Lee, Managing Partner of One Rock, commented, “FXI represents a compelling opportunity as a proven industry leader with a strong reputation in the market and dedicated commitment to its customers.” One Rock Managing Partner R. Scott Spielvogel added, “The FXI management team has worked hard to build the company into a strong platform. The entire One Rock team is looking forward to building on the Company’s strong foundation and success.”
FXI is a leading producer of foam innovation in the Bedding, Furniture, Industrial, Healthcare, and Transportation markets. FXI provides tailored solutions that are driven by consumer insights and industry trends. Products include finished goods, sub-assemblies, services and raw materials for OEMs, fabricators and retailers.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and enhancing its profitability to enhance long-term value. One Rock also has a unique strategic relationship with Mitsubishi Corporation, which can provide strategic resources to One Rock and its portfolio companies, including access to potential new business partners, market intelligence, and low-cost sourcing through increased purchasing power globally. For more information, visit www.onerockcapital.com.