Case History
For over 40 years, Endries has been committed to providing reliable, top-quality products and services to support our manufacturing customers. We have remained true to that commitment during our partnership with Nautic, and enjoyed working with the Nautic team to pursue strategic acquisitions.
Steve Endries, President and CEO, Endries International


During Nautic’s partnership with Endries, we worked closely with the management team to augment organic growth via pricing initiatives and execute an accretive add-on acquisition strategy. The company was sold to MSD Partners in 2018.


Endries is a leading distributor of fasteners and Class-C parts serving industrial Original Equipment Manufacturers (“OEMs”) worldwide. From its headquarters in Brillion, WI and eight U.S. and international distribution centers, Endries provides over 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 which are critical to maintaining the manufacturing process.


Endries was a division of a large multi-national industrial distributor prior to Nautic’s carve out in 2017. The company’s management team, value proposition and recent organic growth (largely via a RFID-based replenishment technology for customers) were strong but the company had yet to unlock additional value through M&A in a fragmented market.


Nautic supported the Endries management team to drive pricing improvements identified in our diligence and source and execute three accretive add-on acquisitions at attractive valuations during our ownership period. The M&A strategy proved Endries was a capable platform for consolidation in a fragmented market, enabling significant multiple expansion upon exit.