Watermill Group

Watermill Group is a private equity firm based in Boston, Massachusetts, established in 1978. The firm specializes in investing in the manufacturing, business services, and distribution sectors, focusing on companies within the aerospace, automotive, building products and services, industrial distribution, metals and fabrication, packaging, chemicals, rubber, and plastics industries across the United States, Canada, Mexico, and the United Kingdom. With over three decades of experience, Watermill aims to help companies realize their full potential by applying strategic insights and management expertise to drive transformation and growth. The firm is committed to acquiring, operating, and improving businesses through a tailored approach to each investment.

Robert Ackerman

Senior Partner

Richard Hall

Associate

Julia Karol

President and COO

Steven E. Karol

Founder and Managing Partner

Taylor Mullen

Senior Associate

Dale Okonow

Senior Partner

Scott Oudheusden

Partner

Benjamin Procter

Senior Partner

Anabelle Skalleberg

Principal

Peter R. d’Entremont

Director of Research

Past deals in Pulp and Paper

Weston Forest

Acquisition in 2021
Weston Forest is a prominent distributor and remanufacturer of softwood and hardwood lumber, along with specialty panel products, catering primarily to North America's industrial and construction sectors. Based in Toronto, Ontario, the company specializes in ISPM 15 heat-treated lumber, industrial pallet lumber, concrete form plywood, FSC-certified lumber, and MSR lumber. Weston Forest has established itself as one of the largest suppliers of forest products to the construction industry in Canada, playing a vital role in supporting infrastructure projects, including road and bridge construction, as well as high-rise developments.

Enbi

Acquisition in 2019
Enbi is a manufacturer of engineered products that specializes in providing precision rollers and related components for various industries, including digital printing, office equipment, ATMs, and cash handling systems. The company focuses on delivering high-quality solutions that are critical for end-product performance, offering products such as paper transport, fusing, and image transfer rollers. In addition to rollers, Enbi produces insulation, gaskets, and sealing technologies suitable for complex applications, emphasizing innovation and cost-effectiveness in its global operations. The company's commitment to precision and quality makes it a key supplier for original equipment manufacturers across multiple sectors.
Manufacturer of consumer and professional imaging media and medical diagnostic films. The company offers custom coating services for medical, optical, electronics, display, specialty packaging, energy, and filtration industries. It also offers polyester film, bi-axially oriented polypropylene, polycarbonate film, metalized film, and coated paper. The company serves medical, optical display components, electronics, security, anti-reflection, membrane casting, photographic, inkjet media, graphics, thermal media, defense, and automotive industries.

Preferred Compounding

Acquisition in 2002
Preferred Compounding Corporation specializes in the manufacture and supply of rubber compounds for various industries, including automotive, construction, power generation, and roll goods. The company produces a diverse range of rubber compounds, including butyl rubber, EPDM, chlorosulfonated polyethylene, fluoroelastomers, and various synthetic rubbers. Founded in 1973 and based in Copley, Ohio, Preferred Compounding operates multiple compounding facilities across the United States and in Mexico. The company was previously known as Preferred Rubber Compounding Corp. and adopted its current name in April 2010. As of July 2019, it operates as a subsidiary of HEXPOL AB. Preferred Compounding is also associated with Wingate Partners, which focuses on enhancing the operational performance of its portfolio companies.
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