FCP Euro’s Post

We didn't know it at the time, but more than 20 years ago my best friend and I embarked on a journey. It began with little more than Nick Bauer taking a few parts from his parents' shelf, waiting for the AOL dial-up internet to connect, and listing eBay auctions for Volvo 240 oil filters, BMW E30 trunk struts, and Saab ignition cassettes. In the years that followed, "FCP Groton" became highly coveted by our small yet loyal customer base. We recognized the potential in front of us, started to think about a larger vision, and eagerly became students of business, despite our complete lack of experience in strategy, operations, finance, e-commerce, or company culture. In 2012, after a decade of learning, experimenting, applying, failing, and succeeding, we made several key discoveries. We realized the power of a strong team and culture, recognized the profound impact of exceptional customer service on business success, and understood the unwavering trust we could gain from our customers by never compromising on the quality of our offering. We also identified our hedgehog concept, which was that we had the potential to become the best in the world at selling European parts online. It was at this point that our true growth potential was unlocked, and FCP Euro emerged. We take immense pride in our journey, having grown our e-commerce business to over $200 million in annual revenue, bootstrapped for the first 15 years, and then leveraging debt and strong free cash flow to take us to where we are today. While numerous opportunities arose over the past 20 years to bring on equity partners, we never found the right fit. As we look forward to the next decade, we see a massive opportunity to transform FCP Euro into the market-leading global European parts company. To ensure we can execute this vision, we're excited to announce that we've completed a $25 million Series A investment from a prominent private investment firm with co-investments from long-term partners Stonehenge Capital and automotive industry veteran David Coolidge. This is accompanied by a new $25 million revolving line of credit courtesy of long-partners at JPMorgan Chase & Co.. Nick and I remain at the helm and committed to the vision, mission, and values that are deeply rooted in FCP Euro. There are countless individuals who deserve our gratitude in this post. My heartfelt thanks to everyone who played a part in making this achievement possible, regardless of the size of their contribution. We’re entering an exciting new stage of growth for FCP Euro, and we couldn't be more excited. Special thanks to the State of Connecticut DECD, Alexandra Daum, Robert Hotaling, Kara Sene and Paul O. Robertson the support of FCP Euro. We are proud to be a Connecticut-based company and will continue to invest in Connecticut as we grow and thrive in the coming years. Thank you JP Morgan, William H. Creaser, Diane, and Amy (Ukena) Lessner for your unwavering commitment to FCP Euro.

Did you know? Many wealth managers consider small-cap funds an important part of a well-diversified portfolio. Learn more in this Financial Planning article, which highlights the Virtus KAR Small-Cap Growth Fund, managed by Virtus affiliate Kayne Anderson Rudnick. https://ow.ly/bbg050QUK07

Ruth Jin will be presenting a webinar on the critical steps in the formation and operation of a private equity fund and identify the most significant private equity fund formation trends from a capital raising, SEC regulatory, and tax standpoint. https://lnkd.in/euaeNQXd #privatefunds

In the fourth of our Distributor Due Diligence series, Fabian Richter discusses how Carne’s solution benefits both fund managers and distributors. Please contact Fabian to find out more: Fabian.Richter@carnegroup.com #funddistributors #fundmanagers #carnedistributorduediligence

Join us as experts from Troutman Pepper discuss the unique licensing requirements for small business investment companies (SBICs). The panel will provide a comprehensive overview of the SBIC licensing process and discuss recent regulatory changes, including licensing issues for the new Accrual SBIC and Reinvestor SBIC fund models. Wednesday, November 15 12:00pm ET Register > https://lnkd.in/eZNTxN_t #SBICs #smallbusinessinvesting #smallbusinessfunding #privateequiity #middlemarket #lowermiddlemarket

Join us as experts from Troutman Pepper discuss the unique licensing requirements for small business investment companies (SBICs). The panel will provide a comprehensive overview of the SBIC licensing process and discuss recent regulatory changes, including licensing issues for the new Accrual SBIC and Reinvestor SBIC fund models. Wednesday, November 15 12:00pm ET Register > https://lnkd.in/eZNTxN_t #SBICs #smallbusinessinvesting #smallbusinessfunding #privateequiity #middlemarket #lowermiddlemarket

Join us on March 6 to celebrate 10 years of our annual “Private Funds: Developments & Opportunities” program. Held in New York and virtually, our 2024 program will feature global perspectives on the current and future state of the private funds industry from Sidley lawyers and key industry leaders, including Nuveen’s Rekha Unnithan, CFA and HighVista’s Andre Perold. Learn more and register below. #SidleyPrivateFunds #privatefunds #investmentfunds #capitalmarkets

The upcoming seminar series with FundRock and Osborne Clarke will explore the latest regulatory challenges and solutions for asset managers, focusing on key markets like Germany, Netherlands, and the UK. Don’t miss out on this opportunity for insightful discussions, networking, and delicious drinks and canapés. Please contact me if you are interested to join us ! #FinancialServices #AlternativeInvestments #Seminar #NetworkingEvent #London #AIFs #AssetManagement

The super early bird tickets have gone, but you can still grab a £20 ticket to this online masterclass being run by The Investables community THIS THURSDAY EVENING. Link to book is in the comments below. Caryn & Antoine will be teaching how to put together an investor pack if you're looking to raise private finance from angel investors. How to stay compliant with the ever changing FCA rules etc... Start the year on the right note and learn how to do things properly! Link in the comments... ⬇ #angelinvesting #propertyinvestors #propertyfinance

INSIGHTS | In part 2 of our #FundFormation series (available here: https://bit.ly/3snDoRj), we covered key considerations when deciding on which fund structure one should opt for. This week, for part 3, the Head of Private Equity, John Bellew, partner, Jutami Augustyn, and associates, Alessandro Balutto, Ntokozo Arnold Mbeje and Tanaka Dhombo, provide an overview of the key players that would ordinarily be involved in each fund and further discuss the different #investors, the process of inducting them into the chosen fund structure, as well as certain considerations that should be taken into account regarding a funds management team. This is the third instalment of the Bowmans Fund Formation 101 Pocket Guide - a six-part #PrivateEquity series of introductory notes on #FundFormation.   More on our #PE practice here: https://bit.ly/3PnL66s