Cotter acquisition puts in place the final critical building block outlined in the original business plan for Fox at launch of the platform last year
- Fox Innovation & Technologies (Fox), led by former Dresser-Rand CEO, Vincent Volpe, makes second acquisition to expand its compressor and rotating equipment business.
- Cotter Group Holdings will become the field project execution arm of the current Fox business, taking the platform to over $100 million in LTM revenue on a proforma basis
- Vincent R. Volpe, CEO of Fox Innovation & Technologies, said: “This acquisition signifies the completion of the first major phase of our business plan to be able to provide technology equal to or better than any of the OEMs, with the agility and responsiveness normally associated with first tier providers of traditional aftermarket services. Our technology capabilities have now been verified on test. The acquisition last July of REVAK brought us the fundamental manufacturing footprint to produce the revamp hardware, along with the core capability to perform multiple product line repairs. The acquisition of the Cotter group now adds the field service capabilities needed to complete the core business approach. The platform for carbon footprint reduction, energy security for our clients, and a long-term profitable growth trajectory for Fox are now in place. Going forward we will continue to enhance the core in terms of engineered solutions and the geographic footprint required to make us the Customers’ first choice in our served markets.”
Fox Innovation & Technologies (Fox), a fast-scaling provider of advanced technological solutions specialising in high-speed rotating equipment, has today announced the acquisition of Cotter Holdings Group (Cotter Group), a highly regarded rotating machinery services provider. This strategic acquisition will significantly enhance Fox’s field operation capabilities and expand its footprint across the US.
Fox will be leveraging the Cotter Group’s extensive experience executing critical service projects in the field to expand Fox’s offering to provide a comprehensive and efficient full-service solution to its clients. The combined expertise of both companies will facilitate the development and implementation of innovative solutions tailored to meet the market’s evolving needs.
Notably, this acquisition encompasses Cotter Group’s portfolio, including S.T. Cotter Turbine Services, Axis Mechanical Group, and Axis Industrial Repair services, which collectively employ up to 500 individuals at peak capacity and will take the Fox platform to over $100 million in LTM revenue on a proforma basis.
