FlexXray switches private equity owners

29-Aug-2017 - Last updated on 30-Aug-2017 at 07:21 GMT

Picture: ©iStock/zimmytws

Related tags Industry Food

Barton Creek Equity Partners (BCEP) has sold FlexXray to Levine Leichtman Capital Partners (LLCP).

FlexXray is a provider of x-ray testing, inspection and recovery services to North American manufacturers and processors.

Hundreds of manufacturing plants rely on FlexXray to salvage products when contamination occurs in the food manufacturing process.

Over a two-year investment in FlexXray, BCEP said it transitioned the company from a founder-owned and operated business and doubled its customer base.

The company’s management team, led by Kevin Fritzmeyer, will acquire an undisclosed stake in the firm.

"Barton Creek Equity Partners has been the ideal partner for FlexXray during its transition from a founder-run business to the leading platform in the industry,” said Fritzmeyer, FlexXray CEO.

“LLCP’s resources and experience will be critical in the continued development of the company, and I look forward to leveraging LLCP’s strategic and financial expertise.”

Bob Poletti, LLCP partner, said: “The company’s high ROI service has entrenched the company in a critical place in the food safety ecosystem.”