The Watermill Group completed the cross-border acquisition of Andaray and its direct and indirect subsidiary Cooper & Turner, a UK-based global manufacturer and distributor of high-strength, large diameter industrial fastener systems.

Organizations in wind energy, construction, OEM, rail and tunneling turn to Cooper & Turner as a supplier of fasteners for fastening applications and extreme environments.

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

“Cooper & Turner’s reputation and track record is virtually unmatched,” said 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.”

“We are thrilled to join Watermill for this next chapter in the history of Cooper & Turner,” said 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.”

Brown and his brother, David Brown, will retain a significant shareholding in the company.