Private equity firm Falfurrias Capital Partners (FCP), has completed an investment in SixAxis, a manufacturer of advanced products that increase worker safety and boost productivity.
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,” says 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,” says 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 organisation. 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,” says 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 commercialisation 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.”
