MBO signals major push for FCX
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Truflo International product story
Edited by the Engineeringtalk editorial team
Oct 15, 2002
Management at global flow control specialist FCX believe they can take the business rapidly forward after a management buyout.
Management at global flow control specialist FCX believe they can take the business rapidly forward after a management buyout.
The management team, led by Chief Executive John Perkins, bought back the stock market listed company in conjunction with private equity firm Alchemy which has invested around GBP325 million in the company.
"We undertook the management buy out for several key reasons primarily connected with developing and building the Group", commented Perkins.
"Firstly, we will be able to develop FCX outside the public arena without the managerial and regulatory burdens of being a listed company with a small market capitalisation".
"We will also be able to respond quickly and efficiently to the opportunities and demands in our markets and in the global flow control marketplace today that ability will be pivotal.
And finally, without the threat of an unwelcome hostile bid, we can concentrate 100% on developing customer service and product lines and taking the company forward".
FCX is a distributor and manufacturer of sophisticated flow control products operating in around 80 facilities in 14 countries with a workforce of 1100.
Its principal markets are power generation, pharmaceutical and biotechnology, oil and gas, chemicals and naval marine.
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