Falfurrias Capital Partners said Sept. 21 that it has invested in SixAxis LLC. Financial terms weren’t announced. SixAxis, of Andrews, South Carolina, designs and produces metal stairs and platforms, rolling and mobile assembly and maintenance platforms, bulk loading platforms, and other equipment that aims to help customers with safety and efficiency.
PRESS RELEASE
CHARLOTTE, N.C. (Sept. 21, 2017) – Falfurrias Capital Partners (“FCP”), a Charlotte-based private equity firm focused on investing in growth-oriented, middle-market businesses, and SixAxis LLC (“SixAxis”), the leading manufacturer of advanced products that increase worker safety and boost productivity, today announced that FCP has completed an investment in SixAxis. The existing SixAxis management team will remain, led by Rob Honeycutt as CEO, and Fred Harmon as co-founder and member of the board of directors. Ken Walker, who was most recently chief operating officer of EnPro Industries, will join the SixAxis team as Executive Chairman.
“SixAxis is excited to partner with FCP on the next stage of our company’s growth,” said Rob Honeycutt, CEO of SixAxis. “The capital and strategic acquisition expertise that FCP brings to the table will allow us to grow the business at an even greater pace. The partnership with FCP, along with the recent investment in our Andrews facility, will allow us to expand product line offerings and take advantage of strategic acquisition opportunities.”
“From the first time we visited SixAxis, we knew that we had found something special. The SafeRack and ErectaStep products are in a league of their own, and Rob and Fred have built an impressive business by developing a great team and by making investments in advanced manufacturing and proprietary software. Customers rave about the quality of SixAxis’ products as well as the level of support they receive,” said Marc Oken, managing partner for Falfurrias Capital Partners. “We view SixAxis as an excellent platform for growth and look forward to working with Rob, Fred, Ken, and the rest of the management team to accelerate growth organically and through strategic acquisitions.”
“It’s a pleasure to be asked to join the SixAxis organization. I look forward to working with the entire SixAxis team to continue building on the company’s excellent track record of proven growth and innovation,” said Ken Walker, who will assume the title of Executive Chairman of SixAxis. “It’s rare to find a company such as SixAxis that is so well positioned for growth, has a demonstrated history of new product commercialization and is led by an accomplished – and forward-thinking – management team. Additionally, the operational investments in the business infrastructure are impressive and only further reinforce the potential for growth over the next several years. SixAxis recently invested over $20 million in capacity expansion, production automation and productivity improvements. Executing on the real opportunities in front of SixAxis will truly be exciting.”
Founded in 2003 by Rob Honeycutt and Fred Harmon and headquartered in Andrews, S.C., SixAxis is the world leader in the design and production of metal stairs and platforms, rolling and mobile assembly and maintenance platforms, bulk loading platforms, and other equipment to aid customers with safety and efficiency across a diverse range of industries and applications. The SixAxis family of brands includes SafeRack, ErectaStep, RollaStep, YellowGate, SmartTech, and ErectaRack, among others. SixAxis serves thousands of customers in the North America, Europe and Asia regions.
“Since our beginning, the SixAxis culture has been about customer service and employee engagement. FCP places a priority on those attributes and is committed to continued investment in our culture, which is why they are the ideal partner for us going forward,” said Fred Harmon.
Harmon continues, “I am also delighted that Rob and I have been able to structure the transaction in a manner that allows us to give back to all our employees, acknowledging their contribution, with a bonus based on tenure with SixAxis, and thereby rewarding our employees for their hard work and commitment.”
About SixAxis, LLC
SixAxis is the holding company for several major brands that encompass fall protection, bulk loading, metal stairs and mobile work platforms. The Company manufactures and markets its products to industrial and commercial customers across a diverse range of industries. SixAxis is headquartered in Andrews, S.C., and is led by co-founders Rob Honeycutt and Fred Harmon.
About Falfurrias Capital Partners
Falfurrias Capital Partners is a Charlotte-based private equity investment firm founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America, and Marc Oken, former CFO of Bank of America. The firm is focused on acquiring or investing in a diverse portfolio of growth-oriented middle-market companies. By leveraging the extensive strategic and operational experience and business relationships of the firm’s principals, Falfurrias Capital Partners is positioned to be a value-added partner for both its portfolio companies and its limited partners. For more information, visit
Source: https://www.pehub.com/2017/09/falfurrias-capital-invests-in-sixaxis/
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