Nautic Partners says it has completed the acquisition of SurfacePrep in partnership with the company’s management.
Mike CurrieHeadquartered in Grand Rapids, Michigan, SurfacePrep distributes loose and coated/bonded abrasives, specialty ceramic materials, powder coating, fluid delivery consumables, and related spare parts and equipment. SurfacePrep also offers outsourced finishing services, deburring, abrasive media blending, formulation and process design advisory, and abrasive finishing equipment MRO services.
“This partnership with Nautic marks an exciting new chapter for SurfacePrep, with a focus on accelerating performance while continuing to provide our customers the excellent service, solutions, and products they expect,” says Mike Currie, CEO of SurfacePrep. “We are eager to move forward with Nautic’s support, leveraging their deep industrial distribution experience and continuing to enhance our strong relationships with customers, suppliers, and our SurfacePrep team.”
Chris Pierce, a Managing Director of Nautic, says SurfacePrep is led by an experienced management team with a long growth history.
“We are excited about Mike and the team’s ability to accelerate that growth track record in the coming years and are thrilled to partner with them to support the company’s future efforts,” Pierce says.
Sean Wieland, Managing Director of Nautic, says SurfacePrep holds a strong position in a large and highly fragmented market.
“We believe the company has significant runway to continue to provide value to its customers in existing and adjacent markets, and we are excited to work with management on those plans,” Wieland says.
McDermott Will & Emery LLP represented Nautic in the transaction, and Antares, Churchill, Cliffwater, Manulife Investment Management, and Metlife Investment Management led the financing for the transaction. KeyBanc Capital Markets and Gibson, Dunn & Crutcher LLP advised SurfacePrep.
Visit www.surfaceprep.com.
