WALTHAM, Mass. (June 10)—Watermill Ventures Ltd. has reacquired Barberton, Ohio-based Preferred Rubber Compounding Corp., after previously owning and operating the company from 1996-1999, according to the investment firm. "We know the company and its products, customers and vendors, and recognize that it is an important provider of high quality rubber compounds," said Steven Karol, managing partner of Watermill Ventures. During the 1990s the private investment firm helped Preferred Rubber develop and introduce a new color compounding line, which augmented the company's black rubber compound offerings. Preferred makes rubber compounds for fabricators of rubber products including parts used in the aerospace, appliance, non-tire automotive, construction, industrial, electrical and other markets.