SurfacePrep Sold from One PE Firm to Another - Modern Distribution Management

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SurfacePrep Sold from One PE Firm to Another

Ownership of Grand Rapids, MI-based surface enhancement solution distributor SurfacePrep is switching hands after tripling in size.
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Grand Rapids, MI-based surface enhancement solution distributor SurfacePrep is switching hands.

Dallas-based private equity firm CenterOak Partners has sold the distributor to private equity firm Nautic Partners. Terms of the transaction were not disclosed.

SurfacePrep primarily offers loose and coated abrasives, specialty ceramic materials and related spare parts and equipment. The company’s field sales professionals support more than 15,000 manufacturing customers through a network of over 35 distribution branches and more than 10 process development labs and production finishing centers. Customers operate across aerospace, medical, consumer, transportation and general industrial end markets.

“During CenterOak’s investment, SurfacePrep tripled in size while expanding margins,” said Jason Sutherland, a Managing Partner of CenterOak. “Alongside management, we executed an investment thesis to consolidate firms specializing in the highly technical sale of surface enhancement solutions. Increased scale supported investments that made the company a more valuable partner to its vendors, a stronger resource for its customers and a better home for its employees.”

Mike Currie, CEO of SurfacePrep said: “Together, we converted 15 local brands to the single unified ‘SurfacePrep’ name operating under the ‘One SurfacePrep’ model, tripled our salesforce and broadened our service and product offerings. Our team look forwards to the next chapter of growth and expansion ahead.”

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