Uncategorized – Watermill http://www.watermill.com A Strategy Driven Private Equity Partnership Mon, 05 Nov 2018 19:17:57 +0000 en-US hourly 1 Watermill Group Announced as a Finalist for the 16th Annual M&A Advisor Awards http://www.watermill.com/watermill-group-announced-finalist-16th-annual-ma-advisor-awards/ Fri, 10 Nov 2017 21:45:07 +0000 http://www.watermill.com/?p=2203 Watermill Group is pleased to share that the firm has been named a finalist in three categories for the 16th Annual M&A Advisor Awards. Watermill Group’s acquisition of Experi-Metal, Inc. was named a finalist in the Industrials Deal of the Year ($50mm-$100mm), Private Equity Deal of the Year ($50mm-$100mm) and M&A Deal of the Year ($50mm-$75mm) categories....

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Watermill Group is pleased to share that the firm has been named a finalist in three categories for the 16th Annual M&A Advisor Awards. Watermill Group’s acquisition of Experi-Metal, Inc. was named a finalist in the Industrials Deal of the Year ($50mm-$100mm), Private Equity Deal of the Year ($50mm-$100mm) and M&A Deal of the Year ($50mm-$75mm) categories.

The winners will be announced at the 16th Annual M&A Advisor Awards Gala on Monday, November 13th at the Metropolitan Club in New York.

“Since the inception of the M&A Advisor Awards in 2002, we have been recognizing the leading dealmakers, firms and transactions. And each year we celebrate the creativity, perseverance and ingenuity of our industry’s professionals”, says David Fergusson, President and Co-Chief Executive Officer of The M&A Advisor. “While our industry has undergone significant transformation since our first awards were presented 15 years ago, we are convinced, more than ever before, that M&A is a driving force of the economy. It is truly an honor for our firm to be able to recognize the contribution that the 2017 award finalists have made.”

 

For a detailed list of all of the Award Finalists for the 16th Annual M&A Advisor Awards, please CLICK HERE. 

THE M&A ADVISOR

The M&A Advisor was founded in 1998 to offer insights and intelligence on mergers and acquisitions through the industry’s leading publication. Today, the firm is recognized as the world’s premier “think tank” and leadership organization for m&a, restructuring and financing professionals, providing a range of integrated services including: M&A Advisor Forums and Summits; M&A Advisor Market Intelligence; M&A.TV.; M&A Advisor Live; M&A Advisor Awards; and M&A Advisor Connects. For additional information about The M&A Advisor’s leadership services visit www.maadvisor.com

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Watermill Launches Startup, Reaches New Altitudes http://www.watermill.com/watermill/ Wed, 06 Apr 2016 13:21:31 +0000 http://www.watermill.com/?p=1981 Just Kidding! As much as our senior team likes to imagine a life retired on the beach, we are all very much grounded at our desks working hard to help our companies climb to new heights and bring our loyal investors the next great opportunity.  Happy April Fools, 2016! April 1, 2016 Dear Friends, We...

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Just Kidding! As much as our senior team likes to imagine a life retired on the beach, we are all very much grounded at our desks working hard to help our companies climb to new heights and bring our loyal investors the next great opportunity.  Happy April Fools, 2016!

April 1, 2016

Dear Friends,

We are thrilled to announce the launch of Watermill Group’s newest program: Karol Atmosfera, the only boutique airline serving America’s retirement communities with direct flights from Lexington, MA.

To help this new airline during its take off and to reduce the turbulence typically associated with high velocity startups, Steven Karol will be assuming the role of CEO and Chief Pilot.

“I have always dreamed my career would soar to the role of Chief Pilot,” Said Steven E. Karol, “Now, with our network of friends and family increasingly moving south, the time is right to launch a new airline service. Finally I get to realize my lofty goal and see my passion for flying rise to new heights.”

Beginning on April 2, 2016, Karol Atmosfera will provide regular direct flights between Lexington, MA and Charleston, SC; Jacksonville, FL;  Vieques, PR; and others.  Karol Atmosfera is also available for charter to any location with average temperatures above 70 degrees Fahrenheit, with discounts offered to sites in the Carolinas and Caribbean.

“We conceived of the idea of serving warmer locations after surviving the below zero temperatures in Boston this year. Luckily for us, those locations happen to have a large and growing segment of potential customers: retirees.”

To elevate the passenger experience, Karol Atmosfera offers amenities such as convenient pick up and take off from your local golf course, an onboard IT professional to address even the most complex computer concerns, pet transportation, cocktail hours, card games, and light flexibility and balance activities to support mobility.

Some lucky passengers will experience the added levity of the Watermill mascots, Beckett and Dash, who may serve as Steve’s co-pilots on certain flights. They thoroughly enjoy sitting right seat and barking orders at their Chief pilot.

Watermill believes the firm has landed on an untapped market. We are certain this new boutique airline concept is really going to skyrocket and are thrilled to have Steven Karol behind the wheel of this venture.

Sincerely,

Watermill Group

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May Your Holidays Be Merry and Bright http://www.watermill.com/may-your-holidays-be-merry-and-bright/ Mon, 21 Dec 2015 14:22:46 +0000 http://www.watermill.com/?p=1918 We hope you enjoy these outtakes from the making of our 2015 holiday card. The Watermill Group team wishes you all a festive and bright holiday season and the best of everything in 2016!

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We hope you enjoy these outtakes from the making of our 2015 holiday card. The Watermill Group team wishes you all a festive and bright holiday season and the best of everything in 2016!

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Watermill Group Announced as Finalist for PE Firm of the Year by M&A Advisor http://www.watermill.com/watermill-group-announced-as-finalist-for-pe-firm-of-the-year-by-ma-advisor/ Tue, 10 Nov 2015 22:25:16 +0000 http://www.watermill.com/?p=1838 Watermill Group is delighted to share that we’ve been named a finalist for Private Equity Firm of the Year in the 14th Annual M&A Advisor Awards. In addition, Watermill has been named a finalist for Industrial Manufacturing and Distribution Deal of the Year (From $10 to $100MM) and Dale Okonow, Watermill Group Partner, was named...

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Watermill Group is delighted to share that we’ve been named a finalist for Private Equity Firm of the Year in the 14th Annual M&A Advisor Awards. In addition, Watermill has been named a finalist for Industrial Manufacturing and Distribution Deal of the Year (From $10 to $100MM) and Dale Okonow, Watermill Group Partner, was named a finalist for Dealmaker of the Year.

Watermill is honored to be considered among the many outstanding firms nominated for Firm of the Year, including ABRY Partners, Blackford Partners, Catterton, High Road Capital Partners, Huron Capital Partners, The Carlyle Group, and Ensign Group. We look forward to celebrating with the other nominees in NYC next week as we all take a moment to acknowledge the successes of the past year.

For a detailed list of all of the Awards Finalists for the 14th Annual M&A Advisor Awards, please click here.

THE M&A ADVISOR

The M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. Over the past seventeen years, through our research, reporting, publishing, symposiums and awards we have established the world’s premier network of mergers and acquisitions, restructuring and financing professionals. To learn more visit www.maadvisor.com

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Steve Karol: Thinking About the New Normal http://www.watermill.com/steve-karol-thinking-about-the-new-normal/ Fri, 04 Sep 2015 17:46:58 +0000 http://www.watermill.com/?p=1831 Steve Karol, Watermill Group’s Managing Partner and Founder, widely known as our big picture strategic thinker, occasionally shares updates with Watermill’s friends, investors, and advisers on his thoughts on markets and economies. We call these missives Reflections From the Water’s Edge and are delighted to begin sharing them more broadly through our blog. We hope...

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Steve Karol, Watermill Group’s Managing Partner and Founder, widely known as our big picture strategic thinker, occasionally shares updates with Watermill’s friends, investors, and advisers on his thoughts on markets and economies. We call these missives Reflections From the Water’s Edge and are delighted to begin sharing them more broadly through our blog.

We hope you’ll find these reflections as insightful as we have. The most recent note on The New Normal can be read at the following link:

Reflections From the Water’s Edge: The New Normal

Enjoy!

 

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Watermill’s Top 10 Tips for Surviving Intergrowth 2015 http://www.watermill.com/watermills-top-10-tips-for-surviving-intergrowth-2015/ Thu, 09 Apr 2015 20:38:01 +0000 http://www.watermill.com/?p=1765 ACG’s Intergrowth 2015 is only a few days away! Are you prepared? Read on for our  top ten survival tips. Have a plan. You can get by without one at many of the smaller conferences, but Intergrowth is a different beast. You’re unlikely to bump into all the people you’re hoping to see in a...

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ACG’s Intergrowth 2015 is only a few days away! Are you prepared? Read on for our  top ten survival tips.

  1. Have a plan. You can get by without one at many of the smaller conferences, but Intergrowth is a different beast. You’re unlikely to bump into all the people you’re hoping to see in a crowd this large.
  2. Wear flats. Or at least make sure you bring a pair with you, so you can change as needed. You’ll walk a lot farther than you expect over the course of the conference and your feet will thank you.
  3. Channel your college days and do your best to survive on limited sleep. Alternatively, avoid the 7am coffee meetings at all costs. Consider boycotting any lender that pushes you to meet with them that early.
  4. Maximize your time. While we typically love a sit down dinner, please don’t be offended if we pass on your invitation. With all of the competing cocktail hours and after parties going on, it is nearly impossible to squeeze one in. Intergrowth – where everyone is a social butterfly.
  5. Fuel up. Taking the time to eat and stay hydrated is important. The people at your Wednesday afternoon meetings will notice and appreciate it if you can managed to stay engaged and actively listen after 48+ hours at Intergrowth.
  6. Stand out. Live a little and try ditching the blue blazer for a change. You may be surprised by how much more memorable it’ll make you.
  7. Pack smart. Bring four times the business cards you think you’ll need and half of the heavy brand folders.
  8. Be open minded. Don’t assume any woman you meet is a booth babe.
  9. Enjoy yourself. Focus on making one or two new friends. If you spend your time racing to gather as many business cards as possible, you’ll miss the chance to truly connect.
  10. Stop by the Watermill table at Capital Connection (#599). We’re disappointed we’ll be missing Red Sox Opening Day at Fenway, but we’re looking forward to spending it with all of you. Plus, we’ll be handing out Cracker Jacks.

Keep an eye out for Ben, Sarah, and Julia at this year’s conference. We look forward to seeing you in Orlando!

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Made in the USA http://www.watermill.com/made-usa/ Fri, 07 Feb 2014 15:50:03 +0000 http://www.watermill.com/?p=1410 Since its founding more than 35 years ago, Boston-based The Watermill Group has kept an eye on manufacturing companies. Of course, given the ebbs and flows of the market, investing in American manufacturing companies hasn’t always been an easy or even a good strategy. In fact, most companies have been outsourcing their manufacturing needs for the last 20 years...

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Since its founding more than 35 years ago, Boston-based The Watermill
Group has kept an eye on manufacturing companies. Of course, given the ebbs and flows of the market, investing in American manufacturing companies hasn’t always been an easy or even a good strategy. In fact, most companies have been outsourcing their manufacturing needs for the last 20 years to places where the cost of labor has been cheap, thus making it extremely difficult to own a successful manufacturing company in the United States. However, the development of horizontal fracking technology in the energy sector, coupled with increasingly higher costs of outsourced labor and lower quality production from
non-North American countries, has caused companies to reassess their manufacturing policies.

As a result, many companies are now bringing their manufacturing operations back to North America. Sensing this shift, Watermill renewed its commitment to manufacturing by purchasing the Dresser, Wis.-based company Tenere Inc. in December 2012.

When assessing the value of a manufacturing company, Watermill outlined three main drivers. “There are three inputs that manufacturers have to look at: the cost of raw materials, labor costs and energy costs,” says Steven E. Karol, managing partner and founder of Watermill, noting that the resulting lower cost of natural gas stateside is translating into lower manufacturing costs domestically. “Energy is a major input, and the cost of it is decreasing. Tenere can do great here and so can many other companies with these favorable factors playing a positive role.”

Founded in 1966, Tenere manufactures advanced, customized components from metal and plastics for blue chip customers such as IBM, Hewlett- Packard, EMC and John Deere. The company manufactures everything from steel metal fabrication to injection-molded products, but most of its customers are technology companies with data centers. For those clients, Tenere helps engineer server racks to maximize computing density while ensuring machines have the spacing and ventilation to function reliably.

The company had been on Watermill’s radar for a while. Where others may have looked at Tenere and saw a metal and plastics part fabricator, Watermill saw the potential for a cutting-edge design and manufacturing company coming into favor given the shift in manufacturing trends. Previously owned by Stonehenge Partners Inc., Tenere had been on and off the selling block numerous times in the past 12 years. The company was in need of a partner with a longer-term outlook than prior owners.

“Watermill was attracted to the engineering sophistication at Tenere,” says Watermill Partner Robert Ackerman. “We specialize in optimizing mechanical components in
highly complex systems,” says Greg Adams, CEO of Tenere. “By fine-tuning the mechanical components, we can help our customers achieve greater operational efficiencies. And considering data centers today can cost billions of dollars,
making the most of each facility is very important.”

Tenere’s storage systems are custom-built for each customer and often include more than 10,000 parts that need to be customized, designed and assembled. “Our
clients count on us to be a reliable extension of their organization. We need to be flexible, good at problem solving and meet the client’s needs, which are continuously
changing,” Adams says.

Undoubtedly, the uncertainty surrounding Tenere’s future for so many years took an emotional toll on its employees and changed budget decisions. “I think Watermill’s high-growth approach was liberating to the employees,” Adams says. “It emphasized a long-term strategy to build the company out while serving the customers. Watermill believes that if we build a great company, then everyone’s financial goals will be met.”

In the short time that Watermill has owned Tenere, the company has been growing rapidly. To date, its gross sales are up to $100 million per year, a 50 percent increase from the prior year. Naturally, Tenere’s growth hasn’t come without a substantial contribution from Watermill. Watermill has spent about $9 million, taking into account the acquisition and equipment Watermill has financed. “We have made a real commitment because we believe in this company,” Ackerman says.

The first thing Watermill did upon taking ownership was invest in the team. Watermill hired Adams, who had been the chief financial officer at Nypro, a manufacturer
of products for the healthcare and packaging industries.

“We wanted someone with the vision to see the growth possibilities and to
bring leadership, but we also wanted someone who understood where the
company was and was willing to get hands-on in creating change,” says Julia Karol, a director with Watermill.

Watermill then took the management team on a retreat and worked to reenergize
the employees. “We wanted them to know we were there to support their growth because having a motivated team is critical,” Julia Karol says.

Adams personally met one-on-one with every employee, then met with them again in groups of about 15 to listen to how they felt the company could be improved. “Eighty percent of the employees are working with the product, and they added a valuable perspective. And they were anxious to be engaged,” Adams says. “We laid everything out after we got the employees’ input.”

What’s more, Watermill wanted to make sure people understood that a manufacturing job at Tenere is a career path and started emphasizing training at the company and at local colleges.

Additionally, Tenere hired a supply chain director and more employees. The head count at the company has grown from 318 to a whopping 618 employees in less than a year. Part of the employee growth came early on from an add-on acquisition Watermill completed in May 2013. Watermill bought Protogenic, a carve-out that focuses on prototyping, design and casting. “We added 35 people, and it expanded our capabilities by creating prototypes and demonstration drafts before we put products into full-scale production,” Steven Karol says.

With the acquisition, Tenere also acquired a 22,000-square-foot manufacturing facility in Lakewood, Colo., and has since opened several more manufacturing facilities. Today, the company has four plants located in Dresser,
Lakewood, St. Croix Falls, Wis., and Somerset, Wis. Watermill also is investing
in new machinery to accommodate its growth and customer demands.

“We export from Wisconsin and Colorado to all around the world,” Adams says. “Our plants are filling up. Our parking lot is jam-packed in Wisconsin and the employees are energized by it. This whole business comes down to the people. It’s a critical component. And we’ll continue to grow.” //

Danielle Fugazy is a freelance writer and contributor to Middle Market Growth

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The Top 10 Insights Into Working at a Private Equity Company http://www.watermill.com/the-top-10-insights-into-working-at-a-private-equity-company/ http://www.watermill.com/the-top-10-insights-into-working-at-a-private-equity-company/#comments Tue, 23 Jul 2013 18:39:11 +0000 http://www.watermill.com/?p=1270 1) When you reveal to a Partner that the exciting new deal is $20m below our revenue criteria (Source tumblr) 2) When we get blown out of the water on an IOI (Source tumblr) 3) When you realize the “proprietary deal” is actually a full auction (Source tumblr) 4) When we bid low on a...

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1) When you reveal to a Partner that the exciting new deal is $20m below our revenue criteria

(Source tumblr)

2) When we get blown out of the water on an IOI

(Source tumblr)

3) When you realize the “proprietary deal” is actually a full auction

(Source tumblr)

4) When we bid low on a company:

(Source florrickandassociates)

5) When an intern tries to speak up in a meeting

(Source tumblr)

6) Watching two partners “debate” the merits of a deal

(Source onlylolgifs.net)

7) When the Millenials post content on Twitter

(Source tumblr)

8) When a strategic buyer is in the process

(Source tumblr)

9) When you don’t use Watermill’s new brand colors in a presentation

(Source tumblr)

10) How we choose which deal to pursue (just kidding)

(Source tumblr)

 

By: The Watermill Group Interns

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Ben Procter, ACG Boston President on Nurturing the Next Generation and Supporting the One Fund http://www.watermill.com/ben-procter-acg-boston-president-on-nurturing-the-next-generation-and-supporting-the-one-fund/ Wed, 05 Jun 2013 19:19:49 +0000 http://www.watermill.com/?p=1175 Ben Procter, Watermill Partner and President of ACG Boston speaks on his passion to develop the next generation of deal makers… “We’re putting a lot of effort into next-gen activities, including a great, active group of young professionals, called the Deal Hunters,” says ACG Boston president Ben Procter of the Watermill Group in this video...

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Ben Procter, Watermill Partner and President of ACG Boston speaks on his passion to develop the next generation of deal makers…

“We’re putting a lot of effort into next-gen activities, including a great, active group of young professionals, called the Deal Hunters,” says ACG Boston president Ben Procter of the Watermill Group in this video interview with Mergers & Acquisitions editor-in-chief Mary Kathleen Flynn, which was shot at ACG Boston’s Growth Conference 2013. “I joined 20 years ago and really benefited from building my network at ACG. Now people 25 to 35 are coming in and benefiting from the same things.

… And on supporting the One Fund

“The One Fund is a very important effort in the Boston business community, it was established as a result of the marathon bombing to help those victimized by the bombing.” ACG Boston hosted a silent auction to raise money for the One Fund, hoping to participate “as most organizations should” says Ben.

ACG Boston Nurtures Next Gen via Mergers & Acquisitions

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Watermill Directors, Emily and Julia, Speak On the Origins of New Networking Group http://www.watermill.com/watermill-directors-emily-and-julia-present-the-origin-of-new-networking-group-on-radio-entrepreneurs-radio-show/ Wed, 10 Apr 2013 14:57:59 +0000 http://www.watermill.com/?p=1046 Lexington, MA –April 9, 2013–  As Founding Members of The Kids Table Networking Group in Boston, Emily Lord and Julia Karol present on the Radio Entrepreneurs radio show on the Money Matters channel along with colleagues Natalie Sperling, Peter Baty and Kyle Murphy. Listen to the founding team as they discuss how they founded a...

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Lexington, MA –April 9, 2013–  As Founding Members of The Kids Table Networking Group in Boston, Emily Lord and Julia Karol present on the Radio Entrepreneurs radio show on the Money Matters channel along with colleagues Natalie Sperling, Peter Baty and Kyle Murphy. Listen to the founding team as they discuss how they founded a new networking model for mid-level professionals in the Boston area deal making community and how the relationships built at The Kids Table have driven  business opportunities to attendees.

Hear more from the Kids Table Team

 

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