CTB Acquired by Waterland Private Equity After Explosive Growth Under Watermill

BOSTON, MA – March 03, 2026 – In a significant move for the industrial sector, The Watermill Group has completed the sale of Cooper Turner Beck (CTB), a global leader in safety-critical fastening solutions, to the European private equity firm Waterland Private Equity. The transaction marks a highly successful exit for Boston-based Watermill, capping a period of transformative growth that saw CTB expand its global footprint and solidify its position as a top supplier to the worldwide energy industry.

CTB, which designs and manufactures high-performance fasteners for demanding markets such as energy, power generation, and construction, became a dominant force under Watermill's strategic guidance. The sale to Waterland, a firm known for its 'buy-and-build' strategy, signals a new chapter of expansion for CTB, which now operates 21 facilities across eight countries.

A Blueprint for Growth: CTB's Transformation Under Watermill

When Watermill Group acquired CTB, it embarked on a strategic overhaul designed to unlock the company's full potential. The private investment firm, which has a four-decade history of transforming middle-market companies, applied its signature hands-on approach to reshape CTB's future. The results were dramatic: CTB more than doubled its workforce and expanded its operations from three to eight countries, establishing a robust international presence.

This expansion was not merely geographical but strategic. A key decision was to concentrate the company's focus on serving the 'total energy market.' This pivot involved both organic development and a series of transformational acquisitions that broadened CTB's product portfolio and customer base. The company's products, which must perform flawlessly in rigorous environments, became indispensable to world-leading energy clients.

"Together with Watermill Group, we have concentrated our strategy on serving the total energy market through our organic developments and acquisitions," said Anthony Brown, CEO of Cooper Turner Beck. "This approach resulted in us expanding our customer base, product portfolio and global footprint. This broader market strategy, driven by the dedication of our people, led to our increased profitability and growth."

The partnership between the investment firm and the company's management was central to this success. Watermill's model goes beyond capital injection, focusing on collaborative strategic planning and operational improvements.

"We're incredibly proud of the growth of Cooper Turner Beck during its tenure as part of the Watermill Group portfolio," stated Steven Karol, Managing Partner at Watermill Group. "This has been a true partnership with Anthony Brown and the team since day one as we shaped a vision, invested in the team, supported international expansion, and reinforced the company's longstanding commitment to quality. We look forward to witnessing the company's continued success with its new partner, Waterland."

This strategic execution culminated in CTB achieving its highest levels of market share gains and profitability in recent quarters, making it a highly attractive asset for a diverse group of potential buyers.

Fastening the Energy Transition: CTB's Rise to Market Leadership

The value of a company making specialized nuts and bolts can be underestimated, but CTB's success is deeply intertwined with major global economic trends. The global industrial fasteners market is a behemoth, valued at over $93 billion in 2025 and projected by industry analysts to exceed $136 billion by 2034. This growth is fueled by massive investments in infrastructure and a worldwide energy transition.

Safety-critical fasteners are the unsung heroes of modern industry. From wind turbines weathering offshore storms to power plants operating under extreme pressure, these components are essential for structural integrity and operational safety. CTB carved out its leadership position by excelling in these high-stakes applications.

The global push toward renewable energy has created immense demand for the kind of high-performance, corrosion-resistant fasteners that CTB specializes in. As nations build out wind farms, solar arrays, and new grid infrastructure, the need for reliable components that can last for decades in harsh environments has skyrocketed. Simultaneously, traditional energy sectors and large-scale construction projects, buoyed by initiatives like the U.S. Bipartisan Infrastructure Law, continue to demand high-quality industrial components, providing a stable and growing customer base.

CTB’s ability to design, manufacture, and distribute these critical products on a global scale positioned it perfectly to capitalize on these powerful market drivers, validating its status as a top-tier supplier.

The Next Build: Waterland's Strategic Bet on Industrial Growth

The acquisition by Waterland Private Equity is a strategic move that aligns with the firm's established investment thesis. Based in the Netherlands and managing over €9 billion in commitments, Waterland specializes in taking successful, medium-sized companies and accelerating their growth through a disciplined 'buy-and-build' approach. The firm targets businesses in fragmented markets with strong growth potential, making CTB an ideal candidate.

Waterland's interest is a vote of confidence not only in CTB's past performance but also in the future of the critical industrial solutions market. The firm's focus on industries impacted by sustainability, digitalization, and infrastructure development fits squarely with CTB's role in the energy and construction sectors. With its expertise in scaling industrial businesses across Europe and beyond, Waterland is poised to help CTB embark on its next phase of consolidation and expansion.

The continuity in leadership, with CEO Anthony Brown remaining at the helm, suggests that Waterland’s strategy will be one of acceleration rather than radical change. The plan will likely involve leveraging Waterland's extensive network and capital to pursue further add-on acquisitions, deepen market penetration in existing territories, and explore new geographic and industrial verticals. This new partnership aims to build on the foundation laid by Watermill, transforming CTB from a market leader into an undisputed global powerhouse in its niche.

Innovation in a Nuts-and-Bolts Industry

While often perceived as a traditional sector, the industrial fastener industry is a hotbed of technological advancement. The future of the market lies in innovation, and CTB operates at the forefront of this evolution. Manufacturers are increasingly turning to advanced materials like high-strength alloys and composites to create lighter, stronger, and more durable products. Specialized nano-coatings are being developed to provide unprecedented levels of corrosion resistance, a crucial feature for components used in marine and chemical environments.

Furthermore, the industry is embracing digitalization with the development of 'smart fasteners.' These components are embedded with tiny sensors that can monitor stress, temperature, and vibration in real-time, feeding crucial data into IoT systems to predict maintenance needs and prevent catastrophic failures in critical infrastructure. This evolution from a passive component to an active data source represents a significant value leap for the industry.

The successful transaction, which was advised by Baird on the sell-side with legal services from Jasso Lopez and CMS, underscores the immense strategic value embedded in specialized industrial manufacturing. For Cooper Turner Beck, the move from Watermill's strategic guidance to Waterland's buy-and-build platform marks the next logical step in its impressive global ascent.