Foam Producers FXI and Innocor Merger Complete

February 26, 2020  by Laurie Northington in Business Strategy, Industry   

The newly combined company, operating under the FXI name, can now offer a complete array of end- to-end solutions across the broadest range of end markets – including bedding, furniture, healthcare, filtration, transportation, and acoustics.

“This is an incredibly exciting day for FXI, its talented employees and valued, longstanding partners. As a newly combined company utilizing the expertise of an integrated management team and significantly enhanced manufacturing and logistical capacity, FXI is positioned to deliver an expanded range of high- quality solutions to our customers faster and more efficiently,” said Harold J. Earley, president and CEO of FXI. “We will continue to emphasize operational excellence, putting our customers first and investing in R&D to develop new products, chemistries, processes, and applications. The new FXI will leverage our combined expertise to deliver comfort, wellness, and style to consumers across categories.”

FXI, a supplier to leading mattress-in-a-box companies and other established consumer brands, will continue to grow Innocor’s Novaform and Sleep Innovations mattress brands with a focus on innovation and value.

In connection with obtaining Federal Trade Commission approval of the merger, FXI and Innocor have agreed to sell three production facilities to Future Foam, Inc., including FXI’s Kent, Wash. location and Innocor facilities located in Elkhart, Ind. and Tupelo, Miss. Now headquartered in Radnor, Penn., FXI boasts 34 manufacturing and distribution facilities throughout North America with approximately 4,150 dedicated employees after accounting for the divested facilities described above.

Affiliates of One Rock Capital Partners, LLC, FXI’s controlling shareholder, will be the majority shareholder of the combined company with Bain Capital Private Equity, Innocor’s majority owner, continuing to own a stake in the combined company.