Unlocking New Horizons: Nautic Partners' Strategic Acquisition of SurfacePrep Energizes Industry Landscape

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In a significant development that reshapes the contours of the surface enhancement sector, Nautic Partners, LLC, a distinguished name in middle-market private equity, has recently completed the acquisition of SurfacePrep, a front-runner in the distribution of surface enhancement solutions. This move, in partnership with SurfacePrep's seasoned management team, heralds a new era of growth and innovation for both entities, promising to bring about a wave of transformative changes in the industry.

SurfacePrep, headquartered in Grand Rapids, Michigan, stands at the forefront of the national and international distribution landscape for surface enhancement solutions. Their comprehensive product portfolio, encompassing loose and coated/bonded abrasives, specialty ceramic materials, powder coating and fluid delivery consumables, alongside a broad spectrum of related spare parts and equipment, positions them as a key player in the market. Moreover, SurfacePrep’s offering of outsourced finishing services, deburring, abrasive media blending, formulation and process design advisory, and abrasive finishing equipment MRO (Maintenance, Repair, and Operations) services, underscores their commitment to delivering comprehensive solutions tailored to meet the diverse needs of their clientele.

The collaboration with Nautic Partners is a strategic move by SurfacePrep, aimed at leveraging Nautic’s deep-rooted experience in industrial distribution to propel the company into its next growth phase. Mike Currie, CEO of SurfacePrep, expressed his enthusiasm about the partnership, emphasizing the company's commitment to enhancing performance while maintaining the exemplary service, solutions, and products that their customers have come to expect. This partnership symbolizes a pivotal moment for SurfacePrep, positioning it for accelerated growth and expansion, underpinned by Nautic's support and strategic guidance.

Nautic Partners, with a rich history spanning 38 years and over 155 platform transactions, has established itself as a beacon of excellence in the private equity domain. Focused on Healthcare, Industrials, and Services sectors, Nautic aims to catalyze growth in its portfolio companies through acquisitions, targeted operating initiatives, and bolstering management team depth. The acquisition of SurfacePrep marks yet another venture in Nautic’s industrials group distribution portfolio, reflecting their strategic intent to nurture and develop companies with substantial growth potential.

Chris Pierce, a Managing Director at Nautic, expressed his admiration for SurfacePrep’s management team, led by CEO Mike Currie, for their proven track record of growth. The partnership aims to further accelerate this growth trajectory, bolstered by the collective expertise and visionary approach of both teams. Sean Wieland, another Managing Director at Nautic, highlighted SurfacePrep’s strong market position and value proposition, rooted in technical expertise and a consultative sales approach. This strategic collaboration is envisioned to unlock significant opportunities for SurfacePrep, enabling it to expand its footprint in existing and adjacent markets, thereby delivering enhanced value to its customers.

The transaction, which saw Nautic represented by McDermott Will & Emery LLP, was supported by leading financial institutions, including Antares, Churchill, Cliffwater, Manulife Investment Management, and Metlife Investment Management. KeyBanc Capital Markets and Gibson, Dunn & Crutcher LLP advised SurfacePrep, ensuring a seamless process and solidifying the foundation for this landmark partnership.

As SurfacePrep embarks on this new chapter under the aegis of Nautic Partners, the focus remains firmly on fostering innovation, expanding market reach, and enhancing the overall customer experience. The synergy between Nautic’s strategic vision and SurfacePrep’s operational excellence is poised to create a formidable force in the industry, driving forward with a shared commitment to excellence and growth. This acquisition not only signifies the melding of two industry stalwarts but also sets the stage for a new paradigm in surface enhancement solutions, where innovation, customer service, and strategic growth converge to redefine industry standards.

In closing, the strategic alliance between Nautic Partners and SurfacePrep heralds a transformative period for the surface enhancement sector. With a strengthened market position, enriched product offerings, and an unwavering focus on customer service excellence, the partnership is geared to navigate the challenges and seize the opportunities of the evolving industry landscape. As these two powerhouses unite their strengths, the industry awaits the dawn of a new era, marked by innovation, growth, and unparalleled customer satisfaction.