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Nautic Partners, a Rhode Island-based private equity firm, has entered into a definitive agreement to acquire Endries International from Ferguson Enterprises and its affiliates.
The transaction is expected to close within the next 45 days. Financial terms of the agreement were not disclosed.
Endries is a distributor of fasteners and Class-C parts serving industrial OEMs worldwide. From its headquarters in Brillion, Wisconsin and eight U.S. and international distribution centers, Endries provides more than 500,000 SKUs to its customer base. Endries operates primarily through a vendor managed inventory model, managing C-part categories for its customers across diverse industrial end markets. Endries partners with OEM customers through robust replenishment systems that provide products and support services critical to maintaining the manufacturing process.
“In Nautic Partners we found a philosophy and approach that is aligned with what is core to Endries," said Steve Endries, chief executive officer of Endries. "Together, we look forward to building upon the foundation that has been established while delivering innovative value-added solutions and services to our customers."
The company was founded by Bob Endries in 1970. Ferguson Enterprises purchased Endries in 2005.
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrial products, and outsourced services. Nautic has completed over 125 platform transactions throughout its 30-year history.