Publish Date : 22-Aug-2017
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 cant-fail fastening applications and extreme environments, when the highest quality products are vital.
Cooper & Turners reputation and track record is virtually unmatched, stated Julia Karol, President and COO, Watermill Group. We are impressed with the companys unwavering commitment to quality and safety, its high customer service levels, as well as its global manufacturing and distribution footprint. Combining Watermills strategy-driven approach with Cooper & Turners highly experienced management team, the company has an exciting opportunity to become the worlds 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 organizations success, said Mr. Krisanda. We look forward to working with them and their team to uncover new opportunities and accelerate the Companys 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. Watermills 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 Watermills 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.
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