PORTSMOUTH, NEW HAMPSHIRE, UNITED STATES, July 18, 2023- Washburn-Garfield Corp (“Washburn”) and Waites Company (“Waites”) of Worcester, Massachusetts announced that it has been acquired by The Collins Companies (“Collins”) of East Windsor, Connecticut. Founded in 1874, Washburn is a leading full-line provider of pipe, valves, fittings and controls. Founded shortly after Washburn in 1880, Waites Company is an abrasive, cutting tools, and industrial needs distributor serving the industrial OEM market of New England. This transaction signifies the completion of an initiative led by Atlantic Management Company.
Washburn and Waites are thrilled to become the newest members of the Collins team, and we are equally as grateful in our decision to partner with Atlantic Management Company”Dave Smith, Chief Executive Officer
The acquisition of Washburn will significantly strengthen The Collins Companies’ central Massachusetts presence in the Pipe, Valves, and Fittings industry, and the acquisition of Waites marks its first expansion into the distribution of abrasives and cutting tools. By acquiring Washburn‐Garfield and Waites, prominent players in the industry are combined to form a more robust and all-encompassing offering, benefiting customers across the board.
David Smith, the Chief Executive Officer of Washburn, and Larry Bruso, the President of Waites, will become integral members of The Collins Companies, actively contributing to propel the combined entity towards its future expansion and achievements.
“Throughout Washburn’s journey as an employee-owned company, Atlantic Management has consistently served as a trusted and reliable advisor. Washburn and Waites are thrilled to become the newest members of the Collins team, and we are equally as grateful in our decision to partner with Atlantic Management Company to effectively facilitate and realize the benefits of a successful combination of our companies.” said David Smith of Washburn.
The Collins Companies is a family owned and operated pipe, valves, fittings, and engineered solutions provider with over 100 years of experience serving the New England and Upstate New York market. The Collins Companies are comprised of Collins Pipe and Supply, Collins Controls, Niagara Controls, International Valve and Instrument, and Collins Compressors with branches in Connecticut, Massachusetts, Maine, & New York.
“We are thrilled to announce the successful completion of this acquisition. The strategic combination of Washburn, Waites and The Collins Companies is a testament to their shared vision and commitment to delivering exceptional value to their customers. We look forward to witnessing the positive impact and continued success of the combined entity for many years to come,” said Cory Melnick, of Atlantic Management Company, who acted as lead advisor for Washburn and Waites in this transaction.
Atlantic Management Company (https://www.atlantic-mgmt.com) is a Portsmouth, NH based financial and transaction advisory firm that provides ESOP, merger and acquisition and business valuation services for privately owned middle market companies. Our 55-year company history is reflected in our experienced professional staff and diverse client list, which includes virtually every industry from manufacturing to emerging high-tech disciplines, as well as retail, wholesale and business services.