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August 05, 2021

Watermill Ventures, Ltd. Acquires Vertex Fasteners Inc.

Waltham, MA – August 5, 2021 – Watermill Ventures, Ltd. announced today that, along with management, it has acquired 100% of the shares of PFI LLC, doing business as Vertex Fasteners. Headquartered in Pawtucket, Rhode Island, Vertex Fasteners is one of the largest North American master distributors of industrial fasteners, distributing corrosion resistant and ferrous fastener products, such as bolts, screws, nuts and washers for both the inch and metric dimensions markets as well as a full line of rivets. The company’s products are imported from high-quality manufacturers predominantly in Asia with whom the company has had long standing relationships.

Managing Partner, Steven E. Karol, said, “Vertex Fasteners is an excellent addition to our portfolio companies. The company’s large distribution network, strong market position, long standing relationships, and an exceptional management team are elements to assuring future growth. We look forward to working with David Hirsch, Vertex’s CEO and the management team on the development and implementation of strategies which will enhance customer satisfaction and lead to continued growth.”

Watermill has extensive experience in the manufacturing and distribution industries stemming from its 27 years of strategic, transaction, and operation management of over 50 portfolio companies. Vertex Fasteners’ CEO, David Hirsch, said, "We look forward to working with Watermill Ventures as we continue to excel at customer service and build our distribution network of the highest quality fasteners on the market. Watermill's broad knowledge and expertise should enable us to continue our record of sustained growth.”

About Vertex Fasteners Inc.
Vertex Fasteners is a leading North American Master Distributor of industrial fasteners, headquartered in Pawtucket, RI. The Company’s focus is the distribution of high quality corrosion resistant and ferrous fastener products, such as bolts, screws, nuts, washers and rivets. For more information, please visit Vertex Fasteners’ website, www.vertexfasteners.com

About Watermill Ventures, Ltd.
Watermill Ventures is a private strategic investment firm that focuses on acquiring middle-market companies in which it can add value through strategic and operational guidance as well investment capital. By leveraging 27 years of strategic, transactional and operating experience, Watermill helps its portfolio management teams thrive, to generate extraordinary returns for all stakeholders. Its principals have extensive expertise in manufacturing and value-added distribution, and differentiated services industries. For more information, please visit Watermill’s website, www.watermill.com

Benjamin P. Procter, Partner
Watermill Ventures
(781) 891-6660
[email protected]

Downer & Company acted as sole advisor to
Vertex Fasteners Inc. on this transaction.

Posted by Industrial at August 5, 2021 08:34 PM