Latrobe, PAOn June 22nd, Latrobe Specialty Steel’s VIM-VAR expansion won the inaugural American Metal Market Award for Excellence for Best Operational Improvement. This expansion supports growing demands for high quality vacuum melted steels from the American military, as well as from many commercial aerospace, power generation and petroleum exploration customers. Latrobe Specialty Steel... More.

Latrobe, PAOn June 22nd, Latrobe Specialty Steel’s VIM-VAR expansion won the inaugural American Metal Market Award for Excellence for Best Operational Improvement. This expansion supports growing demands for high quality vacuum melted steels from the American military, as well as from many commercial aerospace, power generation and petroleum exploration customers. Latrobe Specialty Steel (LSS) put the needs of its customers first and tripled capacity for vacuum melted steel which reduced the lead times for these products from approximately 72 weeks to 20 weeks.

LSS along with its partners, Consarc, Rancocas, NJ and Continental Design and Management Group, Pittsburgh, PA installed one of the world’s largest Vacuum Induction Melting (VIM) furnaces and several Vacuum Arc Remelting (VAR) furnaces starting in mid-December 2007. The first heat was melted in September 2008. Beginning work in Pennsylvania’s winter months, Latrobe excavated 40 feet below ground and built 100 feet above ground a 65,000-square-foot building. As soon as the roof was partially completed, assembly began of the 30-ton VIM using a modified design-and-build technique to overcome the elements and a compressed schedule.

The American Metal Market presented the Award for Excellence for Best Operational Improvement to LSS on the evening of June 22 at a celebratory dinner at the AMM Steel Success Strategies conference in New York City. Other finalists for the award included AK Steel Corp. and ArcelorMittal SA. This is the second award LSS has received for the VIM-VAR expansion this year. In January the Association for Iron & Steel Technology’s (AIST) presented LSS the 2009 Project Excellence Award.

LSS produces and sells worldwide VIM-VAR steel for numerous critical aerospace, defense, power generation and oil and gas exploration applications. For example, you will find LSS’s VIM-VAR steel on many jet airplane and high-performance helicopters made in the United States, and overseas.

Latrobe Specialty Steel, in business since 1913 in Latrobe, PA, has been supplying the aerospace, defense, power generation, oil and gas exploration, and industrial sectors since 1958. The firm employs approximately 800 people.

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Newpapers, magazines, press kits, brochures, catalogs, newsletters, and memos...oh my! We deal with hundreds of pieces of printed paper everyday, but most are discarded without a second thought to where they came from or what they're really worth. Some startling facts: Americans discard 4 million tons of office paper every year -- enough to build a 12 foot high wall of paper... More.

Newpapers, magazines, press kits, brochures, catalogs, newsletters, and memos...oh my! We deal with hundreds of pieces of printed paper everyday, but most are discarded without a second thought to where they came from or what they're really worth.

Some startling facts:

• Americans discard 4 million tons of office paper every year -- enough to build a 12 foot high wall of paper from New York to California.
• In prehistoric times, 60 percent of the earth's surface was covered by forests - today that amount has been reduced by 30 percent and is still shrinking.
• It takes 17 pulpwood market-sized trees to make a ton of paper, or one tree makes about 11,500 pages of 8.5 x 11 20-pound paper. Although the technology and desire for paper with highly recycled content exists, many newspaper and magazine publishers have been slow to make the change to more sustainable paper sources. Thanks to a company in Illinois, however, businesses large and small now have access to hassle-free green publishing products.

FutureMark Paper Company is an environmental paper manufacturer that produces high-quality paper with an unmatched level of recycled content.

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C&M Technologies Group Inc., located in Wauregan, CT, has announced receipt of Rockwell Automation’s Supplier of the Year Award for 2009. This prestigious honor was presented during a vendor conference held in Milwaukee, WI, the week of February 5th. The award is based on performance against defined Rockwell Automation criteria and measurements throughout the year. In addition... More.

C&M Technologies Group Inc., located in Wauregan, CT, has announced receipt of Rockwell Automation’s Supplier of the Year Award for 2009. This prestigious honor was presented during a vendor conference held in Milwaukee, WI, the week of February 5th.

The award is based on performance against defined Rockwell Automation criteria and measurements throughout the year. In addition to lead-time reduction, on time delivery, quality, and productivity, selection as the Supplier of the Year also includes consideration of other key business metrics such as the quality and frequency of communication, the sharing of “best practices”, joint investment in continuous improvement, responsiveness, and active collaboration in identifying areas for product or process enhancement.

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BARBERTON, OHIO – Four years of improvements have Preferred Compounding charging into 2010 with strong fundamentals and a well-provisioned tool set for meeting the needs of manufacturers that use custom compounded elastomers. The company is signaling this emergence by introducing a new name, logo and branding. As of April 19, Preferred Rubber Compounding Corporation is Preferred Compounding.... More.

BARBERTON, OHIO – Four years of improvements have Preferred Compounding charging into 2010 with strong fundamentals and a well-provisioned tool set for meeting the needs of manufacturers that use custom compounded elastomers. The company is signaling this emergence by introducing a new name, logo and branding.

As of April 19, Preferred Rubber Compounding Corporation is Preferred Compounding. Its new logo includes a five-armed blending swirl representing the mix of long-held values the company brings to each customer relationship. These are summed up in the new tagline: “Preferred performs. You achieve.”

“Preferred has always been customer and quality focused,” says Ken Bloom, president & CEO. “Now we can rapidly price, engineer, deliver and support practically any compound and delivery schedule customers request.”

Preferred increased its specialized capacity and overall production capabilities with the 2006 acquisition of Associated Rubber. Its four plants enable the company to meet tight schedules anywhere east of the Rockies and also provide redundancy. Preferred has connected all locations in the same ERP system, updated compounding controls, beefed up technical and sales staff and implemented more flexible production and purchasing arrangements.

“We take a long-term approach based on daily performance. We find out what it is in the design, engineering and supply of elastomeric compounds that can improve each customer’s business. We then work to find a way to make those benefits happen,” Bloom says. “We believe that if we perform each day, our customers will achieve their objectives.”

Bloom says the five blending “swirls” in the logo represent the five Preferred Compounding values: consistent quality, technical excellence, comprehensive capabilities, pro-active service and relationship focus. Preferred treats each relationship as a partnership, Bloom explains, which enables customers to improve productivity and performance and become more agile and confident.

Preferred Compounding plants are in Tallapossa, Georgia, Huntingdon, Tennessee, Fruithurst, Alabama and Barberton, Ohio, which is also company headquarters. Preferred supplies proprietary and custom mixed rubber compounds, chemical blends and calendered sheet. Customers include molders, extruders, mixers and others in the rubber goods market. Primary industries served are automotive, construction, power generation and roll goods.

Preferred (www.preferredperforms.com) is a portfolio company of The Watermill Group of Lexington, Massachusetts. (www.watermill.com). Watermill helpscompanies reach their true potential as thriving businesses capable of supporting jobs and contributing to their local communities. The firm focuses on investing in companies where there is the opportunity to enhance performance through strategic change, operating improvements, or balance sheet realignments.

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As featured on the Triplepundit blog: When paper is recycled, its ink, coating and unusable fibers are left as waste products. But FutureMark has developed a way of changing that. These “waste” materials are high in calcium and, according to FutureMark, “…have nutritive properties similar to agricultural lime, which is a common fertilizer supplement.” So now,... More.

As featured on the Triplepundit blog: When paper is recycled, its ink, coating and unusable fibers are left as waste products. But FutureMark has developed a way of changing that.

These “waste” materials are high in calcium and, according to FutureMark, “…have nutritive properties similar to agricultural lime, which is a common fertilizer supplement.” So now, FutureMark connects 30,000 tons of this material to a farm supply group each year. Instead of being hauled to a landfill, it is used in landscaping applications. This also decreases the need for mining liming agents, and this alternative soil nutrient is just being PR happy talk, it is currently distributed through Prairie Lime of DeMotte.

FutureMark is also the one US company that can produce 100 percent recycled coated mechanical printing paper (think glossy magazines and catalogs). By comparison, most coated mechanical paper has only around 15 percent recycled content.

 

More: http://www.triplepundit.com/2010/04/futuremark-sets-the-bar-higher-for-us-recycled-paper-companies/#comments

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Computationally-Designed, High-Performance Alloy for Aircraft Landing Gear and Other Applications Now Available from Latrobe Specialty Steel Company.   LATROBE, Pa. and EVANSTON, Ill., April 5-- QuesTek Innovations LLC has awarded a license to Latrobe Specialty Steel Company to produce and sell Ferrium® M54™. This is the first license awarded... More.

Computationally-Designed, High-Performance Alloy for Aircraft Landing Gear and Other Applications Now Available from Latrobe Specialty Steel Company.

 

LATROBE, Pa. and EVANSTON, Ill., April 5-- QuesTek Innovations LLC has awarded a license to Latrobe Specialty Steel Company to produce and sell Ferrium® M54™. This is the first license awarded to produce commercially and sell this alloy using QuesTek's compositions, processing expertise and intellectual property. Terms of the multi-year agreement were not disclosed.

Ferrium M54 is a premium-quality steel that offers ultra high strength and toughness, having an ultimate tensile strength of 294 ksi, yield strength of 250 ksi, and fracture toughness of 110 ksi square root inch as typical properties. QuesTek computationally designed and developed M54™ to be a cost-effective alternative to alloys such as AerMet® 100 (in part by limiting high-cost alloying elements such as cobalt), while meeting or exceeding all key properties. Applications of this class of alloys can include aircraft landing gear and arresting tailhooks, shock struts, tow bars, drive shafts, actuators, blast containment devices, fasteners, golf club face inserts and other highly-loaded components.

QuesTek received funding and direction from the U.S. Navy Naval Air Systems Command (NAVAIR) to computationally design and develop M54™, under both an earlier Phase I and a current Phase II Small Business Innovation Research (SBIR) project. NAVAIR also recently awarded QuesTek a Phase I SBIR project to evaluate and test M54 and other materials for arresting tailhook applications.

QuesTek's design, development and licensing of M54™ builds upon its earlier design, development and licensing of Ferrium S53®, another commercially-available ultra high strength steel. While M54™ has significantly greater yield strength and fracture toughness than S53, the resistance of S53 to general corrosion is far greater than that of M54™.

Scott A. Balliett, Latrobe Specialty Steel's Director of Technology and Quality, said: "We're pleased to further build our relationship with QuesTek and offer our global customers another valuable new premium-quality VIM VAR steel. Ferrium M54 VIM VAR should help our customers reduce costs and improve the performance and durability of their products for vital defense, energy, commercial and other industrial applications. We produce this alloy and many other premium alloys in our state-of-the-art vacuum melting (VIM) and vacuum remelting (VAR) facilities, including the recent VIM and VAR expansion to our Latrobe, PA facility."

Charlie Kuehmann, QuesTek's President and CEO, said: "We're pleased to award this license to Latrobe. The commercial introduction of Ferrium M54™ further demonstrates how our Materials by Design® technology and expertise can simultaneously reduce costs and improve the performance of materials. We look forward to working with Latrobe and with customers and design engineers worldwide to identify product applications that can benefit from using M54™ as well as our other licensed alloys Ferrium S53, C61™ and C64™."

 

About Latrobe Specialty Steel Company

Latrobe Specialty Steel, headquartered in Latrobe, PA, has been in operation since 1913. Since 1958, Latrobe Specialty Steel has been a leading supplier of premium vacuum melted alloys to the aerospace and defense sectors. The firm employs approximately 800 people. Find additional information about Latrobe Specialty Steel at www.latrobesteel.com or contact Lisa Pierce at 724-532-6324 (lisa.pierce@latrobesteel.com).

About QuesTek

QuesTek Innovations LLC (www.questek.com) is a global leader in computational materials design. QuesTek uses its proprietary Materials by Design technology and expertise to rapidly design and develop new materials that reduce capital, processing, operating or maintenance costs, or improve environmental protection, competitive supply or competitive advantage. QuesTek has been highlighted in many leading business and technical publications, and has more than 30 patents awarded or pending worldwide. For more information, contact Rich Kooy at 1-847-425-8213 or rkooy@questek.com.

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Environmental coated paper manufacturer leads industry in adopting greener coatings and innovating waste paper reuse Alsip, Ill. – March 29, 2010 – Today FutureMark™ Paper Company, the only North American manufacturer capable of producing up to 100 percent recycled coated paper for magazines and catalogs, announced two new initiatives to lower the environmental... More.

Environmental coated paper manufacturer leads industry in adopting greener coatings and innovating waste paper reuse

Alsip, Ill. – March 29, 2010 – Today FutureMark™ Paper Company, the only North American manufacturer capable of producing up to 100 percent recycled coated paper for magazines and catalogs, announced two new initiatives to lower the environmental impact of paper production. The company is now using an environmentally sustainable binding compound made from corn starch in its paper coatings instead of petroleum-based latex. Furthermore, FutureMark has developed an innovative product that reuses the short paper fibers, inks and coating minerals extracted from recycled paper as a soil nutrient.

“Making recycled paper in an environmentally friendly way has long been a point of pride for FutureMark and our employees,” said Steve Silver, President & CEO of FutureMark Paper Company. “With these two advancements, we’re further reducing the environmental impact of our manufacturing processes, while returning nutrients to the earth and making incremental improvements to our very high-quality recycled paper.”

 

FutureMark Moves to Biolatex Coatings

FutureMark is now using EcoSynthetix® EcoSphere® biolatex® binding agents in its paper coating formula instead of the traditional chemical binders derived from petroleum that’s used by most of the paper industry. FutureMark is the first North American paper manufacturer to incorporate this new biolatex coating ingredient, derived from 100 percent renewable feedstock, in its commercial production process. FutureMark estimates the switch will result in reduced carbon emissions equal to taking 8,000 cars off the road for one year. The company expects to achieve an incremental reduction in carbon emissions from the transport of EcoSphere biolatex binder, which is shipped as a dry product. Compared to conventional petroleum-based binders, which are shipped pre-mixed with water, EcoSphere biolatex binder is far more efficient to transport, taking up less truck space and dramatically lowering fuel and shipping costs.

“It’s really a win on all fronts – for the environment, for our customers and for our business,” said Steve Smith, FutureMark’s Vice President of Operations, who oversees the company’s advanced paper production process. “By using this innovative starch-based binder from EcoSynthetix in our coating formula, we expect to reduce our environmental impact and costs, while preserving the excellent brightness, opacity and gloss that customers have come to expect of FutureMark’s paper products.”

 

FutureMark Develops Agricultural Lime Alternatives

Marking another milestone in its efforts to reduce waste and reuse resources, FutureMark has developed FutureMark High-Calcium Paper Lime (HCPL), a soil nutrient made from reclaimed paper. FutureMark “washes” more than 18 semi trucks of waste paper each working day, extracting short paper fibers, inks, fillers and coating minerals from recyclable paper fibers. The extracted materials – almost 30,000 tons per year – are high in calcium and have nutritive properties similar to agricultural lime, which is a common fertilizer supplement.

“FutureMark HCPL is our way of returning the nutrients found in paper back to the soil,” said FutureMark Technical Services Manager Glen Johnson, who oversees the company’s environmental sustainability and reporting programs. “Our paper lime is safe and effective. It reduces the need for limestone mining and puts to beneficial use a nutrient-rich resource that would otherwise go to landfills.”

Like conventional agricultural lime, FutureMark HCPL can be used to balance soil pH, as well as to enrich soil with a high concentration of calcium, an essential plant nutrient. FutureMark HCPL is a lower-cost, environmentally sustainable alternative to conventional liming agents, which must be mined from the earth. The product culminates from ten years of proprietary process development and three years of research and testing. FutureMark HCPL has undergone extensive chemical analyses and rigorous safety tests by independent labs and government agencies in two states. It has been approved for agricultural use in the states of Illinois and Indiana and is available through Prairie Lime of DeMotte, Ind., at (219) 987-8340.

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Latrobe Specialty Steel's VIM-VAR expansion won by unanimous vote the Association for Iron and STeel Technology's (AIST) award for 2009 Project Excellence..... Dan Hennessy, Latrobe's Vice President Manufacturing said, "Our team headed by Neal Fenton used the most modern project management tools. At the same time, they cultivated unique relationships with the construction companies,... More.

Latrobe Specialty Steel's VIM-VAR expansion won by unanimous vote the Association for Iron and STeel Technology's (AIST) award for 2009 Project Excellence.....

Dan Hennessy, Latrobe's Vice President Manufacturing said, "Our team headed by Neal Fenton used the most modern project management tools. At the same time, they cultivated unique relationships with the construction companies, and angineering firm, a key equipment supplier and the building trades. The construction project targeted the growing demand for premium  vacuum induction melted steel for the essential aerospace and defense markets. AS a result of this expansion, customer lead times fell precipitously from 72 weeks to about 20 weeks."

 

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Crucible Industries LLC is pleased to announce its partnership with Latrobe Specialty Steel Distribution for the sales and marketing of Crusible Particle Metallurgy ("CPM"). Supported by more than 30 years of investment in research and development, Crucible's CPM is one of the world's most advanced powder metals materials and a critical input for companies in the automotive, aerospace... More.

Crucible Industries LLC is pleased to announce its partnership with Latrobe Specialty Steel Distribution for the sales and marketing of Crusible Particle Metallurgy ("CPM"). Supported by more than 30 years of investment in research and development, Crucible's CPM is one of the world's most advanced powder metals materials and a critical input for companies in the automotive, aerospace and tooling industries. CPM is the "gold standard" of powder metals, and customers value CPM for its high quality and performance.

Under the arrangement, Crucible Industries will manufacture the CPM grades at its Solvay, NY, steel mill and Latrobe Specialty Steel Distribution will sell the products through its eight locations in North America.

 

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Steel Guru: November 24, 2009. QuesTek Innovations LLC announced that it has awarded licenses to Latrobe Specialty Steel Company to produce and sell Ferrium® C61™ and C64™ alloys. These are the first licenses granted by QuesTek to make commercially and market these two alloys using QuesTek’s compositions, processing expertise and intellectual property. For more... More.

Steel Guru: November 24, 2009.

QuesTek Innovations LLC announced that it has awarded licenses to Latrobe Specialty Steel Company to produce and sell Ferrium® C61™ and C64™ alloys. These are the first licenses granted by QuesTek to make commercially and market these two alloys using QuesTek’s compositions, processing expertise and intellectual property.

For more information, please view the attached PDF. (link below)
 

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Lexington, Mass. – November 9, 2009 – The Watermill Group announced today that it has acquired the Alsip manufacturing facility of the Madison Paper Company from Myllykoski Group. Watermill Group has renamed the newly acquired paper manufacturer FutureMark Paper Company in alignment with the company’s intent to cater to the fast-growing, underserved North American market for environmentally... More.

Lexington, Mass. – November 9, 2009 – The Watermill Group announced today that it has acquired the Alsip manufacturing facility of the Madison Paper Company from Myllykoski Group. Watermill Group has renamed the newly acquired paper manufacturer FutureMark Paper Company in alignment with the company’s intent to cater to the fast-growing, underserved North American market for environmentally friendly paper. FutureMark Paper Company has the only manufacturing facility in the United States capable of producing up to 100 percent recycled coated paper for magazines and catalogs.

Located just outside Chicago, in the heart of the U.S. print market, FutureMark Paper Company’s innovative manufacturing plant was designed and equipped to produce high-quality paper in the most environmentally sustainable way. The facility’s sustainable manufacturing practices and superior paper products – made with the highest percentage of recycled fiber available anywhere in the world – are attractive to magazine publishers, catalog companies and the growing number of other organizations interested in printing on environmental-grade paper. In addition to the traditional #5 coated paper, a new premium #4 grade and food label products have been recently introduced. All products are made from recovered fiber and have been very well received by the market.

“We were drawn to this paper manufacturer for its green technology and its ability to offer a one-of-akind product in an otherwise commoditized market,” said Steven Karol, Founder and Managing Partner of The Watermill Group. “We believe FutureMark Paper Company is well positioned and well capitalized
to make tremendous gains in the emerging market for environmentally friendly paper. We’re pleased to add FutureMark Paper Company to our investment portfolio.”

The Watermill Group brings strong assets to FutureMark Paper, including new management, an infusion of marketing expertise and capital investments to expand capacity. The new company will be led by newly appointed President and CEO Stephen Silver, an experienced chief executive with a successful track record of leading companies through marketing transformations that result in dramatically improved sales and profits. Most recently Mr. Silver drove the successful turnaround of office furniture manufacturer Teknion LLC. Prior to that, he held leadership positions in the printing and paper industry including President and CEO of Azon Corp. and North American President of International Paper’s Ilford
Photo business. FutureMark Paper intends to retain the Alsip workforce and key senior management including Steven C. Smith, VP and plant manager and Brendan Lesch, VP of Sales and Marketing.

“The management team at FutureMark Paper Company sees a very promising future in North America for environmental-grade paper,” said Steve Silver, FutureMark’s new chief executive officer. “Our existing customers can expect a seamless transition and count on FutureMark to provide the same high quality products and service for which Alsip is known. At the same time, we believe we can also attract the growing number of magazine, catalog and Sunday insert publishers who wish to use paper with a high percentage of recycled content – not just because it’s good for the environment, but because it’s also good for business. We’re looking forward to partnering with these companies to accelerate the market shift toward recycled magazine-grade papers.”

About The Watermill Group
For nearly three decades, The Watermill Group has been acquiring and improving companies. By
providing the resources and expertise to drive strategic and operating change, Watermill helps companies reach their true potential as thriving businesses capable of supporting jobs and contributing to their local communities. Watermill partners have over 140 years of combined executive management experience with extensive expertise in a wide variety of industries. The firm focuses on investing in companies where there is the opportunity to enhance performance through strategic change, operatingimprovements, or balance sheet realignments.

About FutureMark Paper Company
FutureMark Paper Company is an environmental paper manufacturer that produces high-quality paper with an unmatched level of recycled content. As the only company in North America capable of manufacturing up to 100 percent recycled coated mechanical printing paper, FutureMark Paper is committed to helping its customers achieve their environmental objectives without compromising on paper quality or performance. By delivering the future standard for environmental-grade paper today, FutureMark Paper is aggressively growing its position as the preferred paper partner for North America’s sustainability leaders. For more information, please visit www.FutureMarkPaper.com.

 

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Lexington, MA – The Watermill Group (“Watermill”), a private equity firm specializing in the acquisition of distressed companies, today announced that a second senior executive has rejoined the firm within the past month. Benjamin Procter, who worked with Watermill for nearly twenty years, has returned to the firm to lead sourcing, due diligence and acquisition... More.

Lexington, MA – The Watermill Group (“Watermill”), a private equity firm specializing in the
acquisition of distressed companies, today announced that a second senior executive has rejoined
the firm within the past month. Benjamin Procter, who worked with Watermill for nearly twenty
years, has returned to the firm to lead sourcing, due diligence and acquisition of new
investments.

Procter joins Dale Okonow who was one of the original founding members of Watermill, who
rejoined the firm in January.

“The current economic environment provides Watermill with numerous opportunities to acquire,
stabilize and invest in financially challenged companies,” said Steven Karol, Managing Partner
of Watermill. “The addition of these two veteran players in the distressed equity market
augments our already outstanding team of professionals and positions Watermill to provide
superior returns to investors.”

Procter was a Partner at Woodside Capital for the past two years where he focused on sourcing
and managing distressed company transactions. While at Woodside, he served on several
Woodside Boards of Directors including Hamilton Specialty Bar as Chairman.
Procter joined Watermill’s predecessor company HMK Enterprises, Inc. in 1987. While at
HMK, Procter either lead or was involved with more than 25 acquisitions and multiple private
and public financings.

“This current economic cycle is the perfect time to return to Watermill” said Procter. “The
number of distressed companies is at an all time high, and the Watermill team can utilize its
relationships and expertise to source, invest in and improve companies that are faced with
liquidity and operating challenges.”

Procter is an active member of the Turnaround Management Association and the Association for
Corporate Growth where he served on the Global Board from 2001-2004. Procter, a CPA,
graduated from Trinity College with a B.A. in Economics and earned his M.S. in Accounting
from Northeastern University. He begins work at the Watermill Group this week.

 

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Lexington, MA - Dale Okonow has many skills and talents as a business executive. He has been a President and Chief Operating Officer, a Managing Partner and a corporate lawyer. But his greatest value in this economy is his expertise in the “ turnaround” of businesses --acquiring, financing and operating manufacturing and distribution businesses and restoring them to... More.

Lexington, MA - Dale Okonow has many skills and talents as a business executive. He has been a
President and Chief Operating Officer, a Managing Partner and a corporate lawyer. But his greatest value
in this economy is his expertise in the “ turnaround” of businesses --acquiring, financing and operating
manufacturing and distribution businesses and restoring them to become viable entities which contribute
to the economy. That is why The Watermill Group, which has a proven track record of success in just
such turnarounds, as well as re-engineering companies with strong assets, has chosen this time to bring
Okonow back to the firm he helped found.

Okonow was on the ground floor of the Watermill Group’s predecessor company, HMK, twenty years
ago. Okonow served as Managing Partner of the private equity firm where he was responsible for
overseeing the acquisitions, financing and operations of several diverse industrial businesses throughout
the United States.

“Dale is an excellent addition to an already stellar team,” said Steve Karol, Managing Director of the
Watermill Group. “Watermill already has excellent relationships in the financial community, and Dale’s
presence will help us develop even broader connections. Those relationships are crucial in this unique
financial environment which actually provides significant new opportunities for Watermill to assist
companies with excellent assets which are experiencing challenges in this economy.”

“In one way this feels like returning to my roots,” said Okonow, “However, the financial markets are so
dramatically different from the last time that I was involved with Watermill that I think there are
opportunities the likes of which have never been seen in the financial world.”

Okonow was most recently the President and Chief Operating Officer of Sawyer Realty Holdings, LLC, a
fully integrated multi-family real estate investment and management firm. During Okonow’s tenure, the
company, along with institutional equity partners, acquired and managed over $2.25 billion of real estate
with over 35,000 rental units in twelve states and the District of Columbia. Okonow oversaw the day-today
operations at Sawyer which included acquisitions-related financing and divestitures as well as
property and asset management.

He started his career as an attorney with the law firm of Proskauer Rose, LLP, in New York, working as a
corporate lawyer with a focus on mergers and acquisitions and related financing. Okonow holds a BS
from the School of Hotel Administration at Cornell University and a JD and MBA also from Cornell. He
is a member of the Board of Trustees of the Jewish Family & Children’s Service of Greater Boston where
he founded the Parkinson’s Family Support Program. He also serves on the Visiting Committee of the
Dana-Farber Cancer Institute in Boston where he helped establish the Okonow/Lipton Family Lymphoma
Research Fund.

Okonow joins Watermill this month.
 

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Lexington, MA – On August 28th, 2008, Watermill Ventures sold Vertex Distribution (“Vertex”, the “Company”) to DXP Enterprises, Inc. (NASDAQ: DXPE), a national distributor of maintenance, repair and operating (MRO) products, equipment and services to industrial customers. Vertex, headquartered in Attleboro, Massachusetts, is one of the... More.

Lexington, MA – On August 28th, 2008, Watermill Ventures sold Vertex Distribution (“Vertex”,
the “Company”) to DXP Enterprises, Inc. (NASDAQ: DXPE), a national distributor of
maintenance, repair and operating (MRO) products, equipment and services to industrial
customers.

Vertex, headquartered in Attleboro, Massachusetts, is one of the largest North American master
distributors of corrosion resistant industrial fasteners and also carries a full line of metric
fasteners. The Company was founded by Joseph Jenks in the early 1800s. In 1972, David
Hirsch, the current Chairman and CEO, and his family acquired the Company, and expanded the
company’s expertise, product offerings and geographic reach.

When Vertex was acquired by Watermill in August, 2005, Watermill worked closely with
management to strengthen and further extend the company’s growth strategy. With Watermill’s
support and guidance, management pursued new initiatives including: (i) strategic acquisitions to
expand markets and products; (ii) new product line development; (iii) a new state of the art
technology resource; (iv) moving the east coast operations and corporate headquarters to a made
to order location; and (v) a pronounced increase in value-added services.

“Watermill’s expertise and support enabled us to significantly strengthen the Company and
organization,” said David Hirsch, Chairman and CEO of Vertex Distribution. “Last fiscal year,
Vertex Distribution achieved approximately $71.9 million in sales and $13.3 million in
EBITDA. In the last two years, we’ve added metric fasteners, rivets, hose clamps and other
products as well as invested in new infrastructure and facilities. With Watermill’s guidance and
the exceptional contributions of the Vertex team, we’ve achieved significant milestones together,
including the acquisition by DXP.”

“We have enjoyed a terrific partnership with Vertex’s management team in our joint pursuit of a
solid growth strategy,” stated Steven Karol, Managing Partner and Founder of Watermill
Ventures. “Now, Vertex has found a wonderful home with DXP. Watermill is proud to have
been a part of the Company’s development and to see it take this new step with DXP.”
W.Y. Campbell & Company served as financial advisor to the sellers in this transaction.

About Watermill Ventures

For nearly three decades, Watermill has been partnering with management teams to transform
and build great companies. By combining customized transaction structures with the resources
and expertise executives need to drive strategic and operating change, Watermill helps its
portfolio management teams thrive, and to generate extraordinary returns for all stakeholders.
Watermill partners have over 165 years of combined experience with extensive expertise in a
wide variety of industries. Watermill focuses on investing in companies where there is the
opportunity to enhance performance through strategic change, operating improvements, or
balance sheet realignments.

While we invest where we believe we can create value for all stakeholders, our primary expertise
is with manufacturing, distribution and facility or equipment-based services. We are experienced
in a variety of company situations and transaction types including corporate divestitures, familyowned
businesses, businesses or management teams in transition, businesses that have
experienced a recent recovery in performance, and companies that are underperforming relative
to their peers or turnaround situations.

For more information, contact:

Robert Ackerman
(781) 891-6660
backerman@watermill.com

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Lexington, MA– The Watermill Group announced today that it has acquired C&M Technologies Group, Inc. d.b.a. C&M Corporation (“C&M”), a leading manufacturer of custom cable, coil cords and cable assemblies. With manufacturing capabilities in the United States and Mexico, C&M is well positioned as a top supplier of specialized cabling solutions to... More.

Lexington, MA– The Watermill Group announced today that it has acquired C&M Technologies Group,
Inc. d.b.a. C&M Corporation (“C&M”), a leading manufacturer of custom cable, coil cords and cable
assemblies. With manufacturing capabilities in the United States and Mexico, C&M is well positioned as
a top supplier of specialized cabling solutions to Fortune 500 companies in the industrial, medical,
defense, multimedia, datacom and data collection industries.

Headquartered in Wauregan, Connecticut, C&M has transformed from a wire salvage business in its
formative years into a premier manufacturer of high performance cable products. William Mueller, Chief
Executive Officer of C&M, will continue to lead the management team.

“This transaction marks an important milestone in the development of the firm,” said Mueller. “Founded
in 1964 by my father, Warren Mueller, C&M has experienced significant growth under our stewardship
and is well positioned in the current marketplace. We are confident that the partnership with Watermill
Group will be a great asset in supporting our management team and further increasing the level of service
and value provided to our customers.”

Timothy Eburne, Partner at The Watermill Group, added “C&M has been manufacturing customized
cabling solutions for leading OEM technology companies for four decades. We look forward to
partnering with management and the employees to further improve operating performance at C&M and
implement a successful growth strategy for the future.”

Steven Karol, Founder and Managing Partner of The Watermill Group, said “We are excited about the
addition of C&M to our investment portfolio. The company’s strength of engineering and component
design in the manufacturing of custom cable and cable assemblies provide a strong value proposition to
its customers.”

About The Watermill Group

For nearly three decades, The Watermill Group has been partnering with management teams to transform
and build great companies. By combining customized transaction structures with the resources and
expertise executives need to drive strategic and operating change, Watermill helps its portfolio
management teams thrive, to generate extraordinary returns for all stakeholders. Watermill partners have
over 165 years of combined experience with extensive expertise in a wide variety of industries. We focus
on investing in companies where there is the opportunity to enhance performance through strategic
change, operating improvements, or balance sheet realignments.

C&M Corporation

C&M Corporation is a vertically integrated manufacturer of custom cable, coil cords and cable
assemblies. As a worldwide, RoHS compliant cable and cable assembly manufacturer of advanced power
and signal transmission cable solutions, C&M employs the most current processes for lean manufacturing
and cycle time reduction to deliver superior cost-competitive cables and cable assemblies faster than
anyone else in the industry.

CONTACT: Nancy J. Sterling, APR
ML Strategies, LLC
(617) 348-1811
njsterling@mlstrategies.com

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