COOPER TURNER BECK COMPLETES SUCCESSFUL REFINANCING
A global leader in the manufacture and supply of high strength, safety critical fasteners, Cooper Turner Beck announced today that it has completed refinancing with funds managed or advised by Breal Zeta CF Ltd (“BZ”), a UK-based leading provider of structured finance solutions, incorporating asset-based lending and cash flow loans.
Mal Hartland, Cooper Turner Beck’s Chief Financial Officer, said, “Successfully concluding this financing demonstrates the confidence that BZ have in our business. This marks a key milestone for our customers, employees, shareholders, and other partners. We completed this financing with an ABL industry leader such as BZ based on the strength of our underlying business.”
Cooper Turner Beck has recently achieved a record order book for its products that are used in the energy, construction, tunnel, and rail markets. To support this growth, the company has opened a new plant in Chennai, India; expanded its facilities in France; increased its automation capabilities in factories in North America and Europe and added production lines to its existing facilities around the world.
“We look forward to supporting Cooper Turner Beck in the next phase of its growth strategy. The management team have been impressive throughout the process and their record order book supports the company’s potential for future growth across multiple jurisdictions.” said Cem Yaslak, Regional Director at BZ.
Cooper Turner Beck’s lead shareholder is the Watermill Group, a Boston-based strategy-driven private investment firm. Speaking about the successful refinancing, Steven Karol, Founding Partner at the Watermill Group, said: “Cooper Turner Beck has had a record of robust growth and profitability. We are committed to their business plans, which include the energy sector as well as other markets that balance their portfolio. Having BZ as another strong partner will help the company achieve its growth targets in an even shorter time horizon.”
The company’s largest segment is the supply of safety critical fasteners to highly specialized energy markets, including onshore and offshore wind; upstream and downstream oil and gas; nuclear and gas turbines. Its products meet and exceed global standards for these challenging markets where dependable quality is mandatory.
Deloitte advised Cooper Turner Beck as lead financial advisor on the refinancing. Robert Connold, Partner at Deloitte said “We are delighted to have been able to support both Cooper Turner Beck and the Watermill Group as debt advisor on this refinancing. The business has supportive and committed shareholders and lenders to ensure it is well positioned for future growth.”
About Cooper Turner Beck
Cooper Turner Beck is a global leader in the manufacture and supply of high strength, safety critical fasteners. The company’s focus is to offer a seamless, one-stop shop for its customers in the energy, construction, rail, tunnelling, and other safety critical markets. Cooper Turner Beck has a long-standing reputation for quality products and services. With manufacturing and distribution facilities in Europe, Asia, and North America, the company is well positioned to support its customers throughout the world.
About the Watermill Group
The Watermill Group is a strategy-driven private investment firm that helps companies achieve their full potential through strategic transformation. For more than four decades, the family owned and managed firm has been acquiring, operating, and improving companies. Watermill looks for businesses in which it can apply a unique combination of strategic insight and management expertise to re-imagine their future and drive growth.
Contact:
Press Contact:
Mal Hartland, Contact for Cooper Turner Beck, +44 (0) 114 256 0057, mal.hartland@cooperandturner.co.uk