Headwaters MB advised The Phillips Screw Company (“Phillips” or the “Company”), a world leader in the design and engineering of proprietary high-performance drive systems for fastening applications, on a management led buyout of the Company. Management partnered with Gemini Investors, a private investment firm focused on investing in middle market companies, to complete the transaction.

Known for its iconic brand, Phillips has been a world leader in innovative fastener drive systems since its founding in 1935, supplying solutions to fastening challenges in aerospace, automotive, construction, industrial and other markets. The Company brings significant benefits and savings to customers and users worldwide, through design and distribution, and the application of an exceptional portfolio of patents and trademarks.

“This transaction places Phillips on the path to continued success, as we expand our solutions to customers and users worldwide,” said Ken Hurley, President & CEO of Phillips. “We’re excited about executing on the many growth opportunities in front of Phillips with the help of our new partners at Gemini.”

Ian Cookson, Managing Director at Headwaters MB, commented, “It is a privilege to work with these great people and help position such a globally renowned company for the next phase of growth.”

Speaking of Headwaters involvement, former Managing Director and shareholder Gary Sable, said “Headwaters impressed us with their ability to understand, absorb and present a very complex company to prospective partners throughout the world. We thoroughly enjoyed working with them through this process and could not have been more pleased with our selection of them as our advisors”.

Financing was also provided by Enterprise Bank and Massachusetts Capital Resource Company. Terms of the transaction were not disclosed.