Watermill Group acquires UK-based Cooper & Turner

Financial details were not disclosed. Cooper & Turner generated a gross profit of £3.7m from sales of £17.6m in 2016, according to publicly available documents. Turnover was down by 29%, while gross profit was down by 11%, year-on-year.

The acquisition adds to the GP's presence in the UK and supports its similar manufacturing and distribution operations in the US and Mexico.

Watermill plans to grow Cooper & Turner's offerings in the wind energy, railway, tunnelling, oil and gas, and structural sectors, as well as expanding across new markets and geographies.

A significant shareholding in the company will be retained by Cooper & Turner CEO Tony Brown and the head of production, David Brown.

Company
Founded in the 1800s by Joseph and James Turner as a gun barrel manufacturer, Cooper & Turner is headquartered in Sheffield. The company makes high-strength fastener systems for extreme environments such as on- and off-shore wind turbines, railway tracks, and steel construction buildings. Its products include bolts, nuts and washers. The firm has operations in the UK, China and the US. It employs 156 staff.

People
Cooper & Turner – Tony Brown (CEO); David Brown (head of production).
Watermill – Julia Karol (president, COO).

Advisers
Equity – Mid Cap Financial Services (debt advisory); Grant Thornton (corporate finance, debt advisory, tax, financial due diligence); K&L Gates, Richard Goldsack, Matt Bryden-Smith, Will Brennand and Jacob Leone, Dan Rosinke, Jonathan Lister, Declan Ramsey, Lucy Parker (legal).

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• Topics
• Buyouts
• UK / Ireland
• Industrials
• United Kingdom
• United States