FCP backs outside management in the acquisition
of a company where the chief executive’s departure has
left the business with a management void. FCP also partners
with qualified managers with a specific acquisition candidate
in mind. Alternatively, FCP has the ability to find suitable
management when required. In each case, managers receive significant
ownership and daily operating control.
Consumer Product Enterprises, Inc.
FCP backed a leading executive from the craft
and hobby industry in acquiring Consumer Product Enterprises.
The retirement of CPE’s operator with no in-house successor
called for a management buy-in. CPE is the nation’s
largest manufacturer of felt for the craft and hobby industry.