Ferguson Enterprises, Newport News, VA, has agreed to sell Endries International Inc., Brillion, WI, to Nautic Partners LLC, Providence, RI. Endries is distributor of fasteners and Class-C parts serving industrial OEMs worldwide.
While Endries has “consistently contributed to the financial health of Ferguson since the 2005 acquisition … the OEM fastener business is not a core business for Ferguson,” a spokesperson for the company said in an email to MDM. “The sale and new ownership structure allows the team to stay focused on their core business and positions Endries for future growth and opportunity.”
The agreement, which was made in partnership with Endries' management, is expected to close within 45 days.
Endries operates primarily through a vendor managed inventory model, managing C-part categories for its customers across diverse industrial end markets. It has eight distribution centers.
“Endries is a very well-run company with an excellent management team and great culture. We look forward to supporting the company’s organic growth initiatives, and we are particularly enthusiastic about the Pulse RFID offering," Chris Pierce, a managing director of Nautic, said. "We will also work with management to pursue selective acquisitions in Endries’ fragmented market.”