In a move that apparently anticipates increases in infrastructure investment and development, a U.S. private-equity group has acquired Andaray (Holdings) Ltd., a British manufacturer whose most notable subsidiary is Cooper & Turner: Cooper & Turner is a hot and cold forging manufacturer and global distributor of high-strength, large diameter industrial fastener systems.
The buyer, Watermill Group, Lexington, MA, put the emphasis on Cooper & Turner’s supply of fasteners to wind energy, railway, tunneling, oil-and-gas, and construction sectors worldwide. It also credited the “cross-border transaction” for expanding its presence in the U.K. and diversifying its North American holdings.
No acquisition cost has been reported.
Watermill counts a number of other manufacturing and distribution companies in its portfolio, including Fine Tubes, Ltd. & Superior Tube Co., Inc., Latrobe Specialty Metals Inc., and Quality Metalcraft, Inc. and Experi-Metal Inc.
“Cooper & Turner’s reputation and track record is virtually unmatched,” according to Julia Karol, Watermill Group president and COO. “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’s history stretches to the 19th Century in England and Scotland, and today it has hot and cold forging operations anchoring its manufacturing capabilities in Europe and China. Its global distribution network includes CT Industries Inc., in Denver.
Cooper & Turner offers itself as “a seamless, one-stop shop solution for the manufacture and distribution of industrial fasteners that meet the highest levels of quality.”
Ronald M. Krisanda, a Watermill advisor and former president/COO at Milacron Holdings Corp., was appointed chairman of Cooper & Turner. Brothers Tony and David Brown will remain part of the senior management and will continue to be shareholders, Watermill noted.
“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,” Krisanda said.