Aterian Buys Health and Beauty Platform

Aterian Investment Partners has acquired Bright International, a maker of hair bleach products that are used in the health and beauty, and personal care markets.

Bright manufactures hair bleach products, shaving depilatory powders, developers and hair colors that are used by consumer product brands sold into the professional salon and retail markets. The company’s services include research and development, formulation, blending, packaging, filling, and kitting.

Bright was founded in 1987 by Anthony Bibars and has a manufacturing facility and headquarters near Phoenix in Coolidge, AZ (www.brightcorp.us).

“This transaction will allow for Bright to expand the depth and breadth of its portfolio offerings with a new ownership group who has a track record of investing in operations and growing businesses alongside management,” said Mr. Bibars. “We believe Aterian’s support will allow the company to pursue several near-term strategic initiatives and continue providing the highest quality products to our customers.”

“As Bright’s partner we look forward to bringing further innovation, capital and resources to the organization while maintaining the customer-centric approach and manufacturing expertise that made Bright the world-class operation it is today,” said Christopher Thomas, co-founder and partner at Aterian. “The company will be a platform for further investments in the consumer, health and beauty, and personal care industry.”

“Bright has established its impressive market leadership position by uniquely marrying innovation and R&D support with contract manufacturing,” said Joshua Ciampa, a principal at Aterian. “The company has made significant investments in its human capital, facility and equipment, laboratory, and processes to differentiate itself, and complements Aterian’s investments in market-leading manufacturing businesses.”

Aterian invests up to $65 million in small-to-middle market businesses with $25 million to $500 million in revenues. The firm’s sectors of interest are wide and include manufacturing, distribution, chemicals, metals and mining, industrials, retail, consumer products, restaurants, food and beverage, and health care services. Aterian held a first and final closing of Aterian Investment Partners III LP with $350 million of committed capital in July 2018.

Aterian was founded in 2009 by Brandon Bethea, Michael Fieldstone and Christopher Thomas and is based in New York (www.aterianpartners.com).

Houston-based investment bank GulfStar Group was the financial advisor to Bright International on this transaction.

© 2019 Private Equity Professional | August 14, 2019

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