FCP Euro, a leading e-commerce provider of European car parts, has secured a significant debt investment from Stonehenge Growth Capital. This financial boost is set to propel the company’s growth initiatives, enhancing its offerings of Fcp Car Parts and solidifying its position in the aftermarket auto parts industry. The investment, announced on May 1, 2019, marks a pivotal moment for FCP Euro as it aims to expand its operations and better serve its do-it-yourself (DIY) customer base.
The $7 million investment from Stonehenge Capital, facilitated through the Invest CT Program, will be strategically allocated to several key areas. FCP Euro plans to substantially increase its inventory of fcp car parts, ensuring a wider selection for European car owners. Furthermore, the company is committed to expanding its team, projecting an increase from 82 to 150 full-time employees by 2023. This growth in personnel will support enhanced customer service and operational efficiency. Warehouse expansion and facility upgrades are also on the horizon, along with investments in state-of-the-art warehouse automation equipment. These improvements are designed to streamline operations and expedite the delivery of fcp car parts to customers.
FCP Euro has carved a niche in the market by focusing on DIY enthusiasts who prefer to maintain and repair their own European vehicles. The company distinguishes itself by providing not only a comprehensive catalog of fcp car parts but also extensive support resources. Customers benefit from a vast library of instructional videos that guide them through various repair procedures. Additionally, FCP Euro offers pre-packaged “kits” that contain all the necessary fcp car parts for common repairs, providing a cost-effective alternative to traditional repair shops. A cornerstone of FCP Euro’s customer promise is its Lifetime Replacement Guarantee, applicable to all fcp car parts they sell. This unique offering builds trust and loyalty among customers seeking reliable and long-lasting components for their European cars.
Stonehenge Capital expressed strong confidence in FCP Euro’s business model and growth potential. Charles E. Haberkorn, Managing Director at Stonehenge, highlighted FCP Euro’s “dynamic management team” and their proven ability to drive growth in the e-commerce space. He stated Stonehenge’s enthusiasm for supporting FCP Euro’s “aggressive business plan.” Scott Drozd, CEO of FCP Euro, echoed this sentiment, expressing excitement about partnering with a capital provider aligned with their vision. Drozd emphasized that the investment would significantly strengthen FCP Euro’s market position within the expanding automotive aftermarket for fcp car parts.
FCP Euro’s commitment to the car enthusiast community extends beyond its online store. The company hosts popular “Cars & Coffee” events every Sunday morning at its Milford facility. These gatherings provide a space for local European car owners to connect, share their passion, and receive expert advice on DIY projects utilizing fcp car parts from FCP Euro. The events underscore FCP Euro’s dedication to customer engagement and fostering a strong community around European car maintenance.
About FCP Euro:
Established in 1986, FCP Euro began as a traditional brick-and-mortar auto parts store founded by Harry and Kathy Bauer in Groton, Connecticut. The company transitioned to e-commerce in 2001 under the leadership of Scott Drozd and Nick Bauer, expanding its reach to a nationwide audience seeking fcp car parts online. FCP Euro’s online platform features an extensive catalog of European car parts, DIY project kits, and instructional resources. The company has grown steadily, moving to larger facilities to accommodate its expanding operations, ultimately settling in its current Milford, Connecticut location, which includes a retail shop and advanced customer service features.
About Stonehenge Capital:
Stonehenge Capital has been a key player in community development finance since 1999. The firm focuses on providing transformational capital to underserved markets, supporting small business growth, job creation, and community revitalization. Stonehenge Capital distinguishes itself through its commitment to both strong investor returns and positive social impact. With a national presence and a team of experienced professionals, Stonehenge Capital delivers innovative financing solutions across the country.
