M&A Deal Summary

Watermill Group Acquires Enbi Group

On April 3, 2019, private equity firm Watermill Group acquired manufacturer Enbi Group from Platinum Equity

Acquisition Highlights
  • This is Watermill Group’s 3rd transaction in the Manufacturing sector.
  • This is Watermill Group’s 14th transaction in the United States.
  • This is Watermill Group’s 1st transaction in Indiana.

M&A Deal Summary
Date 2019-04-03
Target Enbi Group
Sector Manufacturing
Buyer(s) Watermill Group
Sellers(s) Platinum Equity
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Stubbs Alderton & Markiles (Legal)

Target

Enbi Group

Shelbyville, Indiana, United States
Enbi Group is a manufacturer of high-performance precision rollers, insulation, gaskets and sealing technologies. Enbi serves best-in-class OEMs in digital printing, ATMs and cash handling systems, HVAC (heating, ventilation, air conditioning) as well as other industries in which exacting precision and quality are critical to end-product performance. Enbi Group was established in 1950 and is based in Shelbyville, Indiana.

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Buyer(S) 1

Buyer

Watermill Group

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

The Watermill Group is a private investment firm focused on acquiring/investing in mid-sized businesses operating in traditional industries. Watermill generally looks for US or Canada-based companies which require operating, strategic and capital resources to grow. Sectors of interest include metals, rubber/plastics, paper, packaging, chemicals, food products, value-added distribution, manufacturing, business services, and building products/services. Prospective companies typically generate $35 to $400 million revenues, however Watermill will consider certain smaller businesses as well. Watermill will not invest in fashion businesses, tech companies or industries characterized by short product life cycles or binary outcomes. Watermill was formed in 1978 and is based in Lexington, Massachusetts.

DEAL STATS #
Overall 15 of 17
Sector (Manufacturing) 3 of 3
Type (Secondary Buyout) 4 of 4
State (Indiana) 1 of 1
Country (United States) 14 of 15
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-03 C&M

Wauregan, Connecticut, United States

C&M Corp. is a designer and manufacturer of wire & cable and coil cords for performance-critical applications. The company serves blue-chip customers across a variety of growing markets including industrial automation, medical and military. C&M Corporation has over 50 years of experience designing and manufacturing wire and cable, coil cords, and cable assembly solutions for mission and performance critical applications which simply cannot fail.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Weston Forest Products

Mississauga, Ontario, Canada

Weston Forest Products is a distributor and remanufacturer of softwood & hardwood lumber and specialty panel products, serving North America’s industrial and construction sectors. Weston’s remanufacturing and inventory management services help customers create specified crating, packaging, pallets and boxes, and other niche wood products that are essential for the production or shipment of Industrial goods. Weston Forest Products was founded in 1953 and is based in Mississauga, Ontario.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 59 of 78
Sector (Manufacturing) 2 of 5
Type (Secondary Buyout) 16 of 21
State (Indiana) 2 of 3
Country (United States) 49 of 65
Year (2019) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-07 Iberconsa

Vigo, Spain

Iberconsa is a global provider of frozen seafood products, including hake, Argentine red shrimp and squid. The company is vertically integrated across the full value chain, including wild catch, processing, commercialization and distribution.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-12 Data Blue

Atlanta, Georgia, United States

Data Blue LLC delivers customized storage, backup and server virtualization and consolidated solutions to enterprise customers in North America. Data Blue was formed to redefine the Value Added Reseller space, offering both the customer and manufacturer something that’s a step above what is currently available in the marketplace. Data Blue delivers customized storage, backup and server virtualization and consolidation solutions to the Enterprise, with specific emphasis on Fortune 1000 companies. By utilizing our vast cross-platform integration expertise and unparalleled product knowledge, we deliver solutions that are perfectly tailored to meet the unique needs of your environment.

Sell -
Mergr

Product

Company

Legal