The Watermill Group Acquires Cooper & Turner in Significant Cross-Border Deal

  • Watermill will apply its strategy-driven approach to support Cooper & Turner’s continued growth in the global wind energy, railway, tunnelling, oil & gas, and structural sectors, as well as across new markets and geographies – endeavoring to create the world’s first, truly global mission-critical-fastener supplier.
  • Cooper & Turner senior management, including Group CEO Tony Brown and Head of Group Production David Brown, will remain in their current positions and retain a significant shareholding in the company.
  • The cross-border transaction expands Watermill’s presence in the UK, and adds to the firm’s diverse portfolio of holdings across the US and Mexico

LEXINGTON, Mass.–(BUSINESS WIRE)–The Watermill Group, a strategy-driven private investment firm, has completed the cross-border acquisition of Andaray (Holdings) Limited and its direct and indirect subsidiaries (“Cooper & Turner”), a UK-based global manufacturer and distributor of high-strength, large diameter industrial fastener systems. Market leading organizations in wind energy, construction, OEM, rail and tunnelling turn to Cooper & Turner as one of the leading suppliers of fasteners for can’t-fail fastening applications and extreme environments, when the highest quality products are vital.

“Cooper & Turner’s reputation and track record is virtually unmatched,” stated Julia Karol, President and COO, Watermill Group. “We are impressed with the company’s unwavering commitment to quality and safety, its high customer service levels, as well as its global manufacturing and distribution footprint. Combining Watermill’s strategy-driven approach with Cooper & Turner’s highly experienced management team, the company has an exciting opportunity to become the world’s first, truly global mission-critical-fastener supplier.”

Headquartered in Sheffield, England, Cooper & Turner serves a global customer base with strategically positioned manufacturing and distribution operations across the European Union, China and the US. This global network enables Cooper & Turner to offer a seamless, one-stop shop solution for the manufacture and distribution of industrial fasteners that meet the highest levels of quality. The company will continue to deliver the same trusted and high-quality experience across existing product lines, manufacturing sites and distribution operations as the business also pursues new product, service and market opportunities around the world.

Ronald M. Krisanda, Watermill Advisor and former President and COO at Milacron Holdings Corporation, will serve as the Chairman of the Board of Advisors for the organization. “Cooper & Turner is a compelling business with a highly experienced senior management team, led by brothers Tony and David Brown, whose entrepreneurial vision and operational expertise have been paramount to the organization’s success,” said Mr. Krisanda. “We look forward to working with them and their team to uncover new opportunities and accelerate the Company’s growth in the booming international wind sector and beyond.”

“We are thrilled to join Watermill for this next chapter in the history of Cooper & Turner,” stated Tony Brown, Group CEO, Cooper & Turner. “For nearly two centuries, this organization has evolved and thrived – innovating alongside cutting-edge customers and developing industry-leading service levels across established and emerging sectors. Watermill’s strategic guidance will be invaluable to us as we continue in this tradition of growth and progress.” Tony Brown and his brother, David Brown, will retain a significant shareholding in the Company.

The acquisition of Cooper & Turner deepens Watermill’s presence in the UK, and adds to a portfolio of other holdings across North America.

Mid Cap Financial Services, LLC provided debt for the transaction and Grant Thornton UK LLP provided corporate finance, debt advisory, tax and financial due diligence advice to Watermill. K&L Gates LLP provided Legal Counsel to Watermill. Mazars LLP advised Cooper & Turner and Mincoffs Solicitors provided legal counsel.

About the Watermill Group

The Watermill Group is a strategy-driven private investment firm that helps companies achieve their full potential through strategic transformation. For more than three decades, Watermill has been acquiring, operating and improving companies. Watermill looks for businesses in which it can apply a unique combination of strategic insight and management expertise to re-imagine their future and drive growth.

About Cooper & Turner

Founded in the 1800s by Joseph and James Turner as a gun barrel manufacturer, Cooper & Turner is now one of Europe’s leading manufacturers of bolts, nuts and washers for the Wind, Railway, Tunnelling, Oil & Gas and Structural bolting industries. Headquartered in Sheffield, England, Cooper & Turner has operations in the United Kingdom, China and the United States.

This article was originally published by http://middlemarketgrowth.org/watermill-deal-shows-strength-cross-border/.

August 16, 2017