Cooper & Turner announces Beck Industries deal

5 August 2019

England/France - Andaray Limited and its direct and indirect subsidiaries, Cooper & Turner, announced August 1 it has acquired Beck Industries, a manufacturer and distributor of bolting components.

The combined company said it aims to be the first "truly global manufacturer of safety-critical fastening applications," supporting a broader range of industries – including renewable energy, downstream oil & gas, power generation, nuclear, rail, tunnelling, construction and heavy equipment, among others.

Established in France more than 100 years ago, Beck is now a global organization with capabilities that complement and expand those of Cooper & Turner, according to a spokesperson. "As one entity, the company’s services span all key production processes, including hot and cold forming, heat treatment, CNC machining, thread rolling, robotics and automation. These collective capabilities and larger operational footprint enable the supply of world-class products and services from 17 strategically positioned facilities throughout Europe, North America, Asia and North Africa."

“We are excited to join the Cooper & Turner family,” stated Hugues Charbonnier, former Beck president, who together with his wife Karine Charbonnier are selling Beck and both remaining on the management team as executive vice presidents of Cooper & Turner. “Our complementary technologies, facilities, services and product portfolios will form an unequaled platform to serve local and international clients.”

“Today’s acquisition strengthens our position as a seamless, one-stop shop for the highest-quality, mission-critical industrial fasteners,” stated Tony Brown, group CEO and president, Cooper & Turner. “Supported by our partners at the Watermill Group, we see tremendous opportunity to accelerate innovation and growth within the global energy and infrastructure markets.”

Watermill Managing Partner and Founder, Steven E. Karol, commented: “This is an ideal time for these companies to come together. Both are thriving and well positioned in their respective markets. We are looking forward to supporting the combined management team in capitalizing on the inherent opportunities.”

MidCap Financial Services, LLC provided debt financing for the transaction and K&L Gates LLP provided legal counsel to Watermill. Rothschild & Co. advised Beck and Almain A.A.R.P.I. provided legal counsel.