FXI merges with Innocor
In February 2020, FXI and Innocor, which also manufactures low-density polyurethane foam, completed a $850.0 million merger. FXI’s parent company, One Rock Capital Partners, will retain majority ownership of the new venture, though Bain Capital, which owned Innocor, will still have 26.0% ownership over the new company. The company sold three manufacturing sties to meet regulatory muster
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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