Aterian Acquires Southwest Heat Treat And Texas Energy Labs
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Aterian Acquires Southwest Heat Treat And Texas Energy Labs

Bluewater Thermal Solutions, a provider of commercial heat treating and brazing services and a portfolio company of Aterian Investment Partners, has acquired Southwest Heat Treat and Texas Energy Labs, a provider of heat treating and laboratory analytical services.  Aterian Investment Partners acquired Bluewater Thermal Solutions in October 2012.

Southwest Heat Treat and Texas Energy Labs (“Southwest”) provides open atmosphere and vacuum heat treating, and laboratory analytical services to customers in the energy exploration and production end market.  The company was founded in 1978 and is based in Houston, TX (www.swheattreat.com).

“Acquiring Southwest further demonstrates Aterian’s differentiated focus on close collaboration with our management teams to optimize value across our portfolio.  During 2012, Aterian supported our portfolio companies as they launched new, environmentally friendly chemical product innovations, completed multiple add-on investments, invested in international growth initiatives and refined operational best practices,” said Brandon Bethea, Partner of Aterian.  “Aterian prides itself on being a nimble and strategic partner to our executive teams.  The Southwest add-on was completed approximately 60 days after investing in the Bluewater platform itself.  We look forward to working closely with the Bluewater management team in 2013 as they pursue additional key strategic priorities for the company.”

Bluewater Thermal Solutions owns a multi-state network of commercial heat treating and brazing plants.  The company provides a range of heat-treating processes designed to improve the mechanical properties, durability, and wear resistance of its customers’ metal component inputs.  Bluewater serves customers in the auto, truck, aerospace, construction and agriculture equipment end markets.  Headquartered in Greenville, SC, Bluewater has eleven heat treating facilities located in Michigan, Illinois, Indiana, Pennsylvania, Texas and Ontario, Canada and has approximately 450 employees (www.bluewaterthermal.com).

“The acquisition of Southwest Heat Treat and Texas Energy Labs is an important milestone for the company and provides significant end market diversification and additional geographic reach, both of which are key strategic drivers for our business. The businesses are customer-focused organizations that provide high levels of service to their customers and are well positioned in their key end markets,” said Mike Wellham, Chief Executive Officer of Bluewater.  “We are very happy with the addition of our new team members who have shown they are dedicated and driven by customer service. We are pleased with this recent development and look forward to furthering our core values of customer service, quality, technical expertise, and providing solutions to our customers.”

Aterian Investment Partners invests in small-to-middle market businesses with $25 million to $500 million in revenues that are underperforming, turnarounds or otherwise unique situations. Industries of interest include consumer products; food and beverage; retail; restaurants; health care services; manufacturing; distribution; metals and mining; industrials; and chemicals & commodities. The firm will consider both control and non-control investments. Aterian is based in New York (www.aterianpartners.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-9-13

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