Fox makes second acquistion

Fox Innovation & Technologies (Fox), led by former Dresser-Rand CEO Vincent Volpe, makes its second acquisition to expand its compressor and rotating equipment business.

The acquisition of Cotter Holdings Group will significantly enhance Fox’s field operation capabilities and expand its footprint across the U.S., the company said.

The 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 US$100 million in LTM revenue on a proforma basis.

Image: Fox Innovation Fox Innovation & Technologies, a provider of technological solutions for rotating equipment, has acquired Cotter holdings Group, a rotating machinery services provider. (Image: Fox Innovation & Technologies)

“Approximately three years ago, when we were seeking financial backing, I contacted Tom Sikorski (a founding partner at Blue Water),” Volpe said. “The fundamental plan we agreed upon required first and foremost that we develop world-class technology around compressor flow path efficiency. That is now in place. The second and third legs of the strategic stool required a) manufacturing and repair capability, and b) a field services organization capable of effectively connecting our solutions directly to the end users. The REVAK acquisition provided us the second leg, and over the last 12 months we have made good progress in the integration and reconfiguration of the facility and key processes to meet our future needs.”