US private investment group acquires Sheffield manufacturer Cooper & Turner

The Watermill Group, a US-based investment firm, has completed the acquisition of Sheffield-headquartered Cooper & Turner.

Cooper & Turner is a global manufacturer and distributor of high-strength, large diameter fastener systems for can’t-fail fastening applications (for end products like wind turbines, railway tracks and steel construction buildings).

Julia Karol, president and COO of Watermill Group, said: “Cooper & Turner’s reputation and track record is virtually unmatched. 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.”

Cooper & Turner serves a global customer base with manufacturing and distribution operations situated across Europe, China and the US. The manufacturer will continue to operate existing product lines, manufacturing sites and distribution operations whilst also pursue new product, service and market opportunities around the world.

Ronald M. Krisanda, Watermill Group advisor and former president and COO at Milacron Holdings Corporation, will serve as the chairman of the board of advisors for the company.

Mr Krisanda said: “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.

“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.”

Tony Brown, CEO of Cooper & Turner, commented: “We are thrilled to join Watermill for this next chapter in the history of 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 and his brother, David Brown, will retain a significant shareholding in the Company.

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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