- 08/20/2020
- 1 Min Read
- By: Michael Roselli
FCP Euro Earns A Spot On 2020 Inc. 5000 Fastest-Growing Companies In America For The Seventh Year
For the 7th Time, FCP Euro appears on the Inc. 5000, Ranking No. 2239 With Three-Year Revenue Growth of 187%.
NEW YORK, August 21, 2020 – Inc. Magazine revealed that FCP Euro is No. 2239 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies.
FCP Euro was founded in 2001 by Connecticut natives Nick Bauer and Scott Drozd after identifying an opportunity to take a brick and mortar auto parts store online. Since its inception online in 2001, the company is projected to surpass $115 million in revenue and 175 employees by the end of 2020 and $500 million in revenue by 2024.
"It's an honor to achieve a spot on the Inc. 5000 list for the seventh time, especially throughout such a tumultuous year," said CEO Scott Drozd on Monday. "It's a testament to our continued investment in our employees, our customers, and our organization to help automotive enthusiasts have a more enjoyable and enduring European car ownership experience.”
FCP Euro caters to European automotive enthusiasts with a focus on DIY—providing an extensive collection of instructional videos aimed to walk customers through repairs. They also offer thousands of “kits” which, with one click, can add everything that you’d need to finish a job from start to finish to your cart. Through this, customers can also enjoy considerable savings compared to bringing their vehicles to repair shops. FCP Euro is also known for its Lifetime Replacement Guarantee on all of their products.
In the last 12 months, FCP Euro has added 55,000 sq ft of warehouse space and 5,000 sq ft of back-office space, both in Milford, CT. They’re also actively looking for warehouse and distribution capabilities on the west coast, with the goal of having inventory there by the end of the year in order to better service a rapidly growing west-coast market.
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared to lists of prior years. The 2020 Inc. 5000 achieved an astounding median growth of 156%, with aggregate revenue of $209.7 billion, accounting for 582,670 jobs in the past year alone.
The company has also attracted a debt investment from Stonehenge Capital, a growth capital investment firm. Stonehenge’s $12 million investment, completed through the Invest CT Program, will also help to finance the purchase of state-of-the-art equipment to enhance the automation used in FCP Euro’s warehouse.
“Being able to sustain a position on this list year after year is truly remarkable," said Nick Bauer, President of FCP Euro. "I'm really proud that for nearly 20 years, our team continues to make meaningful improvements to our already incredible business," Bauer added.
FCP Euro Media Contact: Evan Madore - evan.madore@fcpeuro.com.
About FCP Euro:
FCP Euro is a B2C online retailer of OEM and Genuine Parts for European cars. Launched online in 2001, FCP Euro expanded online under the leadership of CEO Scott Drozd and President Nick Bauer. Drozd and Bauer further expanded FCP Euro by developing a website that listed an online catalog of European car parts, kitted projects, and do-it-yourself instructions for customers. In 2019 FCP Euro expanded to over 100,000 square feet in Milford CT which includes a state of the art distribution center, a customer experience and community center, a professional motorsport garage, and advanced walk-in retail shop and automated locker systems for local customers.
About Inc.
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates the remarkable achievements of these companies. The event also offers informative workshops, celebrated keynote speakers, and evening functions.
About Stonehenge Capital:
Since 1999, Stonehenge Capital has operated at the nexus of finance and community development, providing transformational capital in underserved markets that has grown our nation’s small businesses, created jobs for hard-working families and revitalized urban and rural communities. Stonehenge Capital is not a typical finance firm – it is a thought leader in investment capital, producing strong returns for investors and impactful social returns for communities. Stonehenge Capital fosters collaboration across a team of seasoned and talented professionals in Baton Rouge, Columbus, New York, Dallas and other locations, who leverage two decades of expertise and relationships to provide innovative financing solutions where they are most needed on a national scale.
