Nautic to acquire Endries International

PROVIDENCE –Nautic Partners LLC acquired Endries International Inc. from Ferguson Enterprises, Providence-based Nautic announced Thursday in a press release. Endries International, headquartered in Brillion, Wis., is a distributor of fasteners and Class C parts, falling into the purview of Nautic, a private equity firm that specializes in the acquisition of health care, industrial products and outsourced services.

According to the release, Endries reports annual sales of more than $250 million.

The deal is expected to close in the next month and a half.

Chris Pierce, a managing director of Nautic, said in a statement, “We are excited to partner with the Endries team. Endries is a very well-run company with an excellent management team and great culture. We look forward to supporting the company’s organic growth initiatives and we are particularly enthusiastic about the Pulse RFID offering. We will also work with management to pursue selective acquisitions in Endries’ fragmented market.”

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BMO Harris Bank N.A of Chicago will lead the financing between Ferguson and Nautic.

“Endries is a world-class OEM/fastener distributor and has been a valued member of the Ferguson portfolio of companies for a number of years,” said Rob Braig, Ferguson’s vice president of industrial strategy. “We are confident that Nautic will help Endries continue to grow and provide additional opportunities for the business and its associates in the future.”

Chris Bergenheim is the PBN web editor.