Trending...
- Salestrics Releases Version 2.0 to Unify CRM, Business Email, and Operations on a Single Customer Graph
- New ProEssentials v11: Native WinUI Charting Library, 100M Points in 15ms, Following Microsoft's Vision for True Native Swap-Chain Rendering
- $620 Million in Recent Government Contract Awards with More Than $1.2 Billion in Annualized Revenue: Circle8 Group (N A S D A Q: CIRC)
CHARLOTTE, N.C., June 2, 2021 /PRNewswire/ -- Charlotte-based private equity firm Falfurrias Capital Partners today announced it has facilitated the add-on acquisition of Upside Innovations by its portfolio company SixAxis LLC, which is headquartered in Andrews, South Carolina. Terms were not disclosed.
Based in the Cincinnati suburb of West Chester, Ohio, Upside Innovations designs, manufactures and installs modular, customized aluminum stairs, ramps and canopies. The company's product line is a perfect complement for SixAxis, the leading manufacturer of safety and fall protection equipment, loading racks and other industrial solutions that was purchased by Falfurrias in 2017.
"Upside Innovations does for accessibility what SixAxis does for workplace safety, so the businesses are extremely compatible," said SixAxis CEO Rob Honeycutt, who says his firm of 300+ employees had been looking for its first acquisition for some time. "Both companies share a similar DNA, an entrepreneurial spirit and a customer-centric philosophy. We both rely upon advanced modular design and manufacturing capabilities to produce sound, highly engineered solutions in a fraction of the time a true custom fabrication would require, which is a significant competitive advantage in the market."
Upside Innovations founder Kevin Sharp will remain as president, reporting to Honeycutt, and the company's 65-person headquarters and manufacturing facility will remain in West Chester. No workforce reductions are anticipated as a result of the merger; in fact, the principals anticipate considerable growth potential from the new partnership.
More on ncarol.com
"We are excited to be joining a company where we can benefit from their advanced capabilities in product design, materials sourcing, sales and marketing, human resources and other resources that will help us grow," said Sharp, a mechanical engineer who was inspired to start the company by the accessibility challenges facing his polio-surviving grandfather. "This partnership promises tremendous growth opportunities for our company and our people."
The deal is consistent with Falfurrias' "Industry First" investment approach of identifying categories with significant growth potential, then making strategic acquisitions that yield enhanced intellectual and operational efficiencies for greater financial performance.
"We see tremendous synergies between these two companies," said Falfurrias Partner Chip Johnson. "They employ many of the same design and manufacturing principles but target different yet complementary customers. And Upside's location in Ohio will be advantageous in terms of access to materials, shipping and human capital. This partnership makes us better positioned to capitalize on the multibillion-dollar market for highly engineered safety and accessibility solutions."
About SixAxis LLC
SixAxis was founded by Fred Harmon and Rob Honeycutt in 2002 to deliver high-quality loading rack and fall protection solutions to companies around the world. The company has developed a portfolio of 13 diverse brands including SafeRack, ErectaStep, RollaStep, PerfectaStep, AeroStep and MarinaStep, all created to engineer and manufacture advanced products that increase safety and boost productivity. Additionally, SixAxis software solutions are engineered to simplify technology and propel industry leaders worldwide. For more information about how SixAxis is changing the world of manufacturing with a diverse array of innovative products and solutions that are made to give your business a competitive edge, visit www.sixaxisllc.com.
More on ncarol.com
About Upside Innovations
Upside Innovations was founded in 2009 by Kevin Sharp, a mechanical engineer who grew up watching his grandfather, a World War II and polio survivor, struggle to gain access to everyday places. That experience was the inspiration used to find better solutions for designing and building ADA-compliant ramp and step systems. Since the beginning, Upside's focus has been to fill a gap in the market by providing a high quality, attractive ramp system, while providing world-class service to the industry. For more information about the company, visit www.upsideinnovations.com.
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; Marc Oken, former CFO of Bank of America; and Managing Partner Ed McMahan. The firm has raised approximately $1 billion across four funds and invests in growing, middle-market businesses in sectors where the firm's operational resources, relationships and sector expertise can be employed to complement portfolio company executive teams in support of growth objectives. Falfurrias Capital Partners employs a proprietary, research-based process called "Industry First" to identify markets with durable growth trends, construct a thesis based on research findings, and partner with management teams to create strategic value. For more information, visit www.falfurriascapital.com.
SOURCE Falfurrias Capital Partners
Based in the Cincinnati suburb of West Chester, Ohio, Upside Innovations designs, manufactures and installs modular, customized aluminum stairs, ramps and canopies. The company's product line is a perfect complement for SixAxis, the leading manufacturer of safety and fall protection equipment, loading racks and other industrial solutions that was purchased by Falfurrias in 2017.
"Upside Innovations does for accessibility what SixAxis does for workplace safety, so the businesses are extremely compatible," said SixAxis CEO Rob Honeycutt, who says his firm of 300+ employees had been looking for its first acquisition for some time. "Both companies share a similar DNA, an entrepreneurial spirit and a customer-centric philosophy. We both rely upon advanced modular design and manufacturing capabilities to produce sound, highly engineered solutions in a fraction of the time a true custom fabrication would require, which is a significant competitive advantage in the market."
Upside Innovations founder Kevin Sharp will remain as president, reporting to Honeycutt, and the company's 65-person headquarters and manufacturing facility will remain in West Chester. No workforce reductions are anticipated as a result of the merger; in fact, the principals anticipate considerable growth potential from the new partnership.
More on ncarol.com
- NVM Pet Celebrates a Decade of Growth by Honoring the People Behind Its Success
- Mike "The Situation" Sorrentino Celebrates Opening of Second Archangel Centers Location
- Big Money Retirement Opens Dedicated Charlotte Office to Better Serve Growing Client Base
- K2 Integrity Names Michael Kallabat Global Head of Investigations and Disputes
- Socialhose Eyes Southeast Asia and Rejects the Copy-Paste Expansion Playbook
"We are excited to be joining a company where we can benefit from their advanced capabilities in product design, materials sourcing, sales and marketing, human resources and other resources that will help us grow," said Sharp, a mechanical engineer who was inspired to start the company by the accessibility challenges facing his polio-surviving grandfather. "This partnership promises tremendous growth opportunities for our company and our people."
The deal is consistent with Falfurrias' "Industry First" investment approach of identifying categories with significant growth potential, then making strategic acquisitions that yield enhanced intellectual and operational efficiencies for greater financial performance.
"We see tremendous synergies between these two companies," said Falfurrias Partner Chip Johnson. "They employ many of the same design and manufacturing principles but target different yet complementary customers. And Upside's location in Ohio will be advantageous in terms of access to materials, shipping and human capital. This partnership makes us better positioned to capitalize on the multibillion-dollar market for highly engineered safety and accessibility solutions."
About SixAxis LLC
SixAxis was founded by Fred Harmon and Rob Honeycutt in 2002 to deliver high-quality loading rack and fall protection solutions to companies around the world. The company has developed a portfolio of 13 diverse brands including SafeRack, ErectaStep, RollaStep, PerfectaStep, AeroStep and MarinaStep, all created to engineer and manufacture advanced products that increase safety and boost productivity. Additionally, SixAxis software solutions are engineered to simplify technology and propel industry leaders worldwide. For more information about how SixAxis is changing the world of manufacturing with a diverse array of innovative products and solutions that are made to give your business a competitive edge, visit www.sixaxisllc.com.
More on ncarol.com
- $40 Billion Global Market Value by 2030 Projected in Unmanned Aerial Vehicle or Other Drone Technology Sector, Growing at 9.2% Compound Annual Growth
- Charlotte-based Steady Tax & Bookkeeping launches to support small businesses nationwide
- Recreation Ponds: The Next Big Backyard Pond Trend?
- $620 Million in Recent Government Contract Awards with More Than $1.2 Billion in Annualized Revenue: Circle8 Group (N A S D A Q: CIRC)
- Lewis County Hydrogen Alliance Launches Phase 1 Work to Turn Forest Residuals into Fuel-Grade Hydrogen and Dispatchable Clean Power
About Upside Innovations
Upside Innovations was founded in 2009 by Kevin Sharp, a mechanical engineer who grew up watching his grandfather, a World War II and polio survivor, struggle to gain access to everyday places. That experience was the inspiration used to find better solutions for designing and building ADA-compliant ramp and step systems. Since the beginning, Upside's focus has been to fill a gap in the market by providing a high quality, attractive ramp system, while providing world-class service to the industry. For more information about the company, visit www.upsideinnovations.com.
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; Marc Oken, former CFO of Bank of America; and Managing Partner Ed McMahan. The firm has raised approximately $1 billion across four funds and invests in growing, middle-market businesses in sectors where the firm's operational resources, relationships and sector expertise can be employed to complement portfolio company executive teams in support of growth objectives. Falfurrias Capital Partners employs a proprietary, research-based process called "Industry First" to identify markets with durable growth trends, construct a thesis based on research findings, and partner with management teams to create strategic value. For more information, visit www.falfurriascapital.com.
SOURCE Falfurrias Capital Partners
Filed Under: Business
0 Comments
Latest on ncarol.com
- Inlow Upholstery Offers Custom Boat Seat Reupholstery for Western North Carolina Lake Communities
- Aderra Opens in Magnolia, Texas, Offering a New Model for 62+ Homeownership
- What's New in Hokkaido, Autumn 2026
- Charlotte Investors Name Priority Property Group Among the City's Best Property Management Companies
- Gospel Artist and Media Executive Trevone Perry Heads to the 41st Stellar Gospel Music Awards
- KOLBUS America Welcomes New Sales Manager, Reid Crawley
- CRG Awarded NASA SEWP VI Contracts in Categories B and C
- Heidi G. Villari of The Villari Firm, PLLC Named to Super Lawyers for the Tenth Consecutive Year
- Elevate Your Sneakers With Crep Protect Trek Laces
- Meet Privateer: Tucson's High-Tech Security Force Built With Paramilitary Precision
- Humanbein Launches to Inspire Compassion Through Service, Opportunity, and Community
- Dynamic Dachshund Dog Goes Global: Remember Point Launches a New Bilingual Children's Book
- DARPA Selects NRx Pharmaceuticals Defense Subsidiary for Contract Negotiations on FDA-Authorized SPARC-TMS Clinical Trial Advancing Mental Health Care
- From the Racetrack to the Boardroom: Aston Martin and Aramco Formula One Partnership Accelerates Circle8 Group: (N A S D A Q: CIRC)
- NVM Pet Announces Leadership Transition, Promotes Next Generation of Executive Leadership
- U.N. Committee Reiterates Forced Psychiatric Detention a Human Rights Violation; CCHR Calls on the U.S. to Implement Protections
- Valgar LLC Launches The Briefing Room: Education Leaders
- New from Regal House Publishing, St. Ulphia's Dead, a dark comedy in the magical realist tradition
- New Novel WINCE Takes Unflinching Aim at American Gun Culture and Masculinity
- New Research Puts the Cost of Enterprise Decision Delay at $630 Billion a Year Across the Global 2000