APRIL FOOLS! While we love the 70s, we have not actually invested in a disco ball manufacturer. We’ve removed the glittery background and crazy facial hair photos from the Watermill website, but the announcement below will live on.The old team photo above? That’s legit. If you look closely, you’ll be able to pick out Steve.
Lexington, Mass – April 1, 2015 – The Watermill Group, a strategy driven private investment firm, today announced the acquisition of 54Studios Entertainment, Inc. a manufacturer of specialty disco balls, value added distributor of specialty throwback paraphernalia and period specific entertainment service provider including time-based travel adventures.
“We see a tremendous market for retro products designed for discerning customers who demand the high production levels and experiences delivered only by 54Studios” said Watermill’s managing partner, Steven E. Karol. “In addition, this company really resonated with Watermill’s history. Having started the precursor to Watermill in 1978, we took a shine to the company’ product line.”
“The Management team has a certain sparkle that really stood out in our diligence efforts. We found that we really jived with them.” shared Partner Benjamin P. Procter. “That’s right,” added 54Studios’ CEO, John Blutarsky “we really dug the Watermill team, they are pretty cool cats and we’re certain that the partnership between Watermill and 54Studios will result in growth results that are far out.”
Watermill anticipates expanding the company’s product line to enliven the niche throwback entertainment market with lots of products that will dazzle customers. Eventually, Watermill hopes the company will explode into new adjacent markets: “we want to be the glitter bomb of the throw back entertainment category,” said Karol.
To celebrate the acquisition, The Watermill Group has rebranded and updated its website: www.watermill.com
54studios Entertainment, Inc. was acquired from Dean, Vernon, & Wormer Capital. TheMan served as the senior lender, Bluto Capital was the junior lender and Neidermeyer Partners facilitated the sale as the exclusive investment banker for the seller.