Fox Innovation & Technologies (FOX), a provider of advanced technologies aftermarket services and solutions specialised in high-speed rotating equipment has announced the acquisition of Sirio Solutions Engineering (SSE).
Based in the Italian city of Prato, SSE has nearly 40 years of engineering history and client service expertise. During this time, it has been successfully operating as a premier provider of engineered turbomachinery control systems, field solutions and expert field technical services for Industrial Process and Energy Infrastructure Applications.
Vincent R. Volpe, CEO of FOX, said:
“This acquisition adds two critical dimensions to Fox. First, SSE brings systems engineering and turbo machinery controls capabilities to our recently launched Revamp business for turbo compressors in industrial process and energy infrastructure applications. This allows us to provide our clients an increasingly integrated solution, thereby simplifying the interface on a given project.
“Second, over the past 40 years SSE has amassed extensive experience working on high-speed turbo machinery and process reciprocating compressors internationally. Its presence in Europe, Eurasia, the Middle East, North Africa and South America will augment the Field Service capabilities already present in the USA, which came to FOX by way of the acquisition of the Cotter Group (S.T. Cotter Turbines and Axis Mechanical Group). This coverage will allow FOX to service many of our prospective clients who operate internationally.
“We view this acquisition as the next logical building block consistent with the strategy we developed several years ago with our partners from Bluewater. We expect to continue to make strategic acquisitions to augment our footprint, capabilities and service offerings, while at the same time promoting our best-in-class efficiency and industry leading cycle times.”
The acquisition has been led by Jesus Pacheco, a member of the Board of Directors of FOX and long-time industry expert. Over the past months Jesus has built strong ties between some of the key legacy FOX managers and the executives of SSE, led by Sergio Pazzi, the Company’s founder and President of the Board. Sergio will continue to provide guidance and have direct operating involvement as needed in the business.
Jesus Pacheco said:
“we were impressed by SSE’s world-class technology, quality and execution capabilities. Their demonstrated expertise providing value to original equipment manufacturers, packagers and end-users by leveraging their deep knowledge of turbomachinery, controls and auxiliaries perfectly complements FOX’s advanced compressor technology, engineering and services capabilities. We welcome the SSE team to FOX and look forward to helping our customers save energy and reduce their carbon footprint, as we create value for them through a broader range of unmatched technologies, services and field capabilities.”
Since its inception, Fox has been backed by specialist energy PE firm Bluewater, which it says has played an important role in supporting its growth strategy.
Tom Sikorski, Founding Partner at Bluewater, said:
“We have made great progress at FOX in the last several years building out our technology and engineered solutions and this is yet another piece of the puzzle. We continue to be grateful to participate in this journey with Vince and his team.”
FOX said the integration of SSE into the FOX platform will begin immediately, ensuring a swift onboarding for SSE’s Management with the aim of a seamless transition for both companies’ employees and clients of both in the high-speed rotating equipment space for critical energy infrastructure benefiting straight away from an expanded and enhanced aftermarket services offering.
The cost of the transaction is undisclosed.
