FCP Euro Closes $25M Debt Facility For Growth Capital

FCP Euro Closes $25M Debt Facility For Growth Capital

Connecticut-based e-commerce retailer FCP Euro will have access to growth capital financed by JPMorgan Chase.

Connecticut-based online auto parts retailer FCP Euro announced the closing of a $25 million debt facility financed by JPMorgan Chase. The deal will provide FCP Euro with access to funding that will enhance customer experience by accelerating infrastructure and inventory investments. In addition, FCP Euro will have access to a full range of industry-leading financial services that will complement the multi-year growth strategy.

“This deal marks the culmination of a multi-year vetting process that not just identified a transactional bank, but a company that can provide industry-leading advisory, analytics, growth capital, information security, and treasury management services that align with our growth strategy,” said Scott Drozd, CEO of FCP Euro. “FCP Euro is proud to work with JPMorgan Chase to enhance our commitment to an exceptional customer experience through investments in technology, people, and infrastructure.”

A growing presence in the $400 billion U.S. automotive aftermarket, FCP Euro surpassed $110 million in total parts sales in 2020, 53% growth from 2019, and has been recognized in Inc. Magazine’s 5000 fastest-growing privately-owned companies seven times. With a decade-long total parts sales CAGR of 27% versus an e-commerce industry CAGR of 15%, FCP Euro will achieve $500 million in total parts sales by continuing to grow market share with a focus on the European sector.

“We are proud to be a part of FCP Euro’s growth story and to support its outstanding leadership team,” said Bill Creaser, executive director, JPMorgan Chase Middle Market Banking, CT.

You May Also Like

MPA Reports Strong Financial Results for Fiscal Q3 2024

MPA’s Q3 results showed increases in net sales, operating income and cash flow from operating activities.

Motorcar Parts of America, Inc. released its financial results for the fiscal 2024 third quarter and nine-month period ending December 31, 2023, showcasing increases in net sales, operating income and cash flow from operating activities.

During the fiscal third quarter, net sales surged by 13.2 percent to $171.9 million, accompanied by a substantial improvement in gross margin by 3.7 percentage points. Gross profit increased by 43.1 percent to $30 million, while operating income increased 170.1 percent to $9.5 million. The company generated approximately $53.6 million in cash from operating activities during the quarter, according to MPA's earnings report.

O’Reilly Reports Q4, Full-Year 2023 Financial Results

The company said it anticipates continued growth in 2024, with projections including 190 to 200 net new store openings.

financial results
Valvoline, Inc. Reports Q1 Growth

Valvoline saw an increase in system-wide stores to 1,890, including 895 company-operated stores and 995 franchised stores in Q1.

Valvoline Instant Oil Change building
Eaton Reports Record Q4 2023 Results

Fourth-quarter sales reached $6 billion, an 11% increase from the previous year, driven by organic growth and a slight boost from foreign exchange.

PACCAR Achieves Record Annual Revenues, Net Income

PACCAR Parts reported a record annual pre-tax income of $1.7 billion and revenues of $6.41 billion.

Financial-results

Other Posts

Driven Brands Partners With Mirakl on Digital Marketplace

The marketplace aims to connect the company’s 5,000-plus locations with a selection of more than 80,000 products from third-party suppliers.

Driven-Brands-Driven-Advantage
Continental Unveils Strategy for Enhanced Value Creation

Continental is focusing on business areas with high growth potential, including making its UX business organizationally independent.

Conti-HQ
AutoZone Q1 Domestic Same Store Sales Increase 1.2%

The company’s same-store sales showed a 25.1% jump internationally.

MPA Launches Vendor Supply Chain Financing Program

The online platform will provide suppliers with visibility of payment for approved invoices and early payment options.

MPA logo