MSD Partners buys Endries from Nautic

MSD Partners has acquired Endries International Inc from Nautic Partners. No financial terms were disclosed. BB&T advised Endries and Nautic on the transaction. Based in Brillion, Wisconsin, Endries distributes fasteners and Class-C parts serving industrial original equipment manufacturers worldwide.

PRESS RELEASE

PROVIDENCE, R.I.–(BUSINESS WIRE)–Nautic Partners, LLC announced today that it has sold portfolio company Endries International, Inc. and related affiliates (“Endries”) to MSD Partners, L.P. (“MSD Partners”).

Endries is a leading distributor of fasteners and Class-C parts serving industrial Original Equipment Manufacturers (“OEMs”) worldwide. From its headquarters in Brillion, WI and eight U.S. and international distribution centers, Endries provides over 500,000 SKUs to its customer base. Endries operates primarily through a vendor managed inventory model, managing C-part categories for its customers across diverse industrial end markets. Endries partners with OEM customers through robust replenishment systems that provide products and support services which are critical to maintaining the manufacturing process.

Chris Pierce, Managing Director of Nautic, said, “The Endries management team is truly world-class. We thank Steve Endries, Matt Vechart and the entire team for their accomplishments; it has been a pleasure partnering with them to achieve the goals that we had.”

Sean Wieland, Vice President of Nautic, continued, “Endries experienced very strong growth both organically and via a number of quality acquisitions completed and integrated during our investment period. We are confident that the company will continue to execute its growth strategy in partnership with MSD Partners.”

Steve Endries, President and CEO of Endries, said, “For over 40 years, Endries has been committed to providing reliable, top-quality products and services to support our manufacturing customers. We have remained true to that commitment during our partnership with Nautic and will do the same with our new partners at MSD Partners.”
Matt Vechart, Senior Vice President and CFO of Endries added, “We enjoyed working with the Nautic team and pursuing strategic acquisitions. We look forward to the next chapter for Endries and working with MSD Partners.”

BB&T served as the advisor to Endries and Nautic.

About Endries
For over 40 years, Endries has worked with OEMs and has built its business around supporting manufacturers. Today Endries manages over 500,000 SKUs including various fasteners and related production components, and has annualized revenue in excess of $325 million. For more information, please visit http://www.endries.com.

About Nautic Partners, LLC
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrial products, and outsourced services. Nautic has completed 134 platform transactions over its 33-year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $25 million or more. For more information, please visit www.nautic.com.

About MSD Partners, L.P.
MSD Partners, L.P., an SEC-registered investment adviser located in New York, was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital. MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family. MSD Partners utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. MSD Private Capital Group leads MSD Partners’ control equity and structured preferred investments. For further information about MSD Partners and the MSD Private Capital Group, please see www.msdpartners.com and www.msdprivatecapital.com.