FXI has successfully completed its previously announced merger with Innocor, creating a leading provider of innovative comfort technology solutions. The breadth of the combined company’s capabilities enables it to offer a complete array of end-to-end solutions across the broadest range of end markets – including bedding, furniture, healthcare, filtration, transportation and acoustics. Operating under the FXI name, the combined company will reflect that brand’s position as a preeminent vertically-integrated mattress and topper manufacturer in the fast-growing bedding industry.
“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 Chief Executive Officer 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.”
In merging the heritage of two complementary industry pioneers, the combined company possesses a wide range of relationships and capabilities to deliver solutions that enhance everyday life. Now headquartered in Radnor, Pennsylvania, FXI boasts 34 manufacturing and distribution facilities throughout North America with approximately 4,150 dedicated employees.
Earley continued, saying: “We are seeking to improve every step of the value chain, from R&D to fulfillment. Customers will benefit from deeper, strengthened relationships, our enhanced manufacturing capabilities and reduced delivery times made possible by our expanded footprint. Through our enhanced R&D capabilities, we will continue to develop new products, new chemistry, new processes, along with new applications that will continue to deliver value to our customers and comfort, safety, wellness and style to their customers.”
In the rapidly growing bedding market, where purchasing habits of consumers are driving increased demand for innovative technologies, FXI is uniquely positioned to satisfy the comfort needs of consumers by leveraging distinct technical expertise and consumer-driven insights. FXI is a trusted supplier to leading mattress-in-a-box companies and other established consumer brands and will continue to grow Innocor’s Novaform and Sleep Innovations mattress brands with a focus on innovation and value.
“We believe the broader bedding space is being disrupted driven largely by the rise of the ‘bed in the box’ segment, where FXI serves as a trusted supplier both to established and growing brands,” Earley explained. “Based on our consumer insights, we believe purchasing habits are changing and our unique focus on ‘comfort technologies’ that we achieve through our broad set of innovative solutions will be a driver of growth for FXI going forward.”
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.
For more information, visit fxi.com
About FXI: FXI is a leading comfort technology supplier to North American home furnishings providers, including wholesale bedding manufacturers, DTC mattress providers and furniture retailers, OEMs and fabricators. Across a wide range of relationships and capabilities, FXI embraces the power and potential of bedding technologies to improve the sleep experience. FXI’s products also include solutions for the Home, Healthcare, Electronics, Industrial, Personal Care and Transportation end markets.