Aterian Investment Partners Portfolio Company Bluewater Thermal Solutions
Completes Sale of Nine Industrial Facilities to STORE Capital in Real Estate
Portfolio Sale Leaseback Transaction
NEW YORK, Dec. 16, 2013 /CNW/ - Aterian Investment Partners ("Aterian"), a
private equity firm, announces that its portfolio company Bluewater Thermal
Solutions ("Bluewater") completed the sale of nine industrial facilities to
STORE Capital Corporation ("STORE"). The portfolio, totaling over 500,000
square feet, consisted of heat treating plants in Illinois, Michigan, Indiana,
Pennsylvania and Ontario, Canada. In conjunction with the sale, Bluewater
simultaneously entered into a long-term lease with STORE at each of the
Bluewater is a leading provider of heat treating services and solutions to a
number of North American manufacturing industries. The company provides a
range of metallurgical heat-treating processes in which metal parts are
exposed to precise temperatures, atmospheres, quenchants, and other conditions
to improve their mechanical properties, durability, and wear resistance.
Bluewater services over 2,000 unique customers in the automotive, heavy truck,
aerospace, construction, agriculture and energy industries.
Isaac Chalal, Vice President of Aterian, stated "We are pleased to partner
with the STORE team to consummate this transaction. Their thorough and
efficient approach to understanding Bluewater's value proposition and the
criticality of its services to the customer base convinced us that they would
be a fantastic long-term partner for the company. This is the third sale
leaseback transaction that Aterian has completed in the last twelve months and
represents another example of Aterian's focus on driving significant cash
generating initiatives on behalf of its portfolio companies."
"We are excited to partner with Aterian and provide our net lease financing
solution to one of their portfolio companies, Bluewater Thermal Solutions,"
said Christopher Volk, CEO of STORE Capital. "STORE's ability to provide a
tailored, flexible solution and act quickly enabled Bluewater to free up
significant capital to accelerate several key growth initiatives. Aterian's
responsiveness and commercial approach facilitated an expedient and certain
transaction closing. We look forward to the mutual benefits of a long-term
relationship with both Bluewater and Aterian."
About Aterian Investment Partners Aterian Investment Partners is a private
equity firm focused on providing capital to market leading small-to-middle
businesses across a broad range of industries that represent unique
situations, turnarounds, or otherwise are opportunities to collaborate with
management to optimize profitability. Aterian targets businesses generating
$25 million to $500 million in annual revenues with strong, proven franchises.
Aterian's principals have extensive experience investing in complicated and
operationally intensive situations including corporate carve-outs,
restructurings both in and out of bankruptcy, and strategic investments
necessary to build and enhance value for all stakeholders. Aterian will use
its fund to invest in both control and non-control situations across the
capital structure in addition to bridging the entire purchase price, thereby
providing sellers the utmost speed and certainty of closing. For more
information, please visit http://www.aterianpartners.com.
About STORE Capital Corporation ("STORE") STORE Capital Corporation is the
leader in middle market capital solutions, backed by funds managed by Oaktree
Capital Management, L.P., together with other institutional shareholders.
STORE's mission is to address the long-term capital needs of real estate
intensive operating businesses throughout the United States. Through tailored
real estate lease and mortgage financing solutions, STORE's aim is to create
wealth for its customers by improving the capital efficiency of their
SOURCE Aterian Investment Partners
Isaac Chalal, Aterian Investment Partners, LLC, 212-287-2911,
To view this news release in HTML formatting, please use the following URL:
CO: Aterian Investment Partners
ST: New York
NI: FIN MNA
-0- Dec/16/2013 13:31 GMT
Press spacebar to pause and continue. Press esc to stop.