Nautic Partners, LLC (“Nautic”) recently announced that it has completed the acquisition of SurfacePrep, in partnership with management.
Headquartered in Grand Rapids, Michigan, SurfacePrep is a leading national and international distributor of surface enhancement solutions. The company distributes loose and coated/bonded abrasives, specialty ceramic materials, and powder coating and fluid delivery consumables, as well as related spare parts and equipment. SurfacePrep’s trained technicians also offer outsourced finishing services, deburring, abrasive media blending, formulation and process design advisory and abrasive finishing equipment MRO services.
Mike Currie, CEO of SurfacePrep, said, “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. 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, said, “SurfacePrep is led by CEO Mike Currie and an experienced management team that has demonstrated a long history of growth. 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. Additionally, we’re excited to add another investment to our distribution portfolio within Nautic’s Industrials group.”
Sean Wieland, Managing Director of Nautic, continued, “SurfacePrep holds a strong position in a large and highly fragmented market, serving its customers through a consultative sales approach, showcasing a strong value proposition that is rooted in SurfacePrep’s technical expertise. 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.”
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.
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