Aterian Investment Partners has acquired Stein Fibers, a manufacturer and distributor of synthetic and natural fiber products.
Stein Fibers was founded in 1976 by Sidney Stein, Jr. and began as a distributor of domestically manufactured polyester fiberfill. During the 1990’s, the company began importing fibers from Korea, Taiwan, and China. In 2000, Stein opened a manufacturing facility in LaFayette, Georgia and in 2008 opened a second manufacturing facility in Spartanburg, South Carolina.
Source: Stein Fibers
The company’s synthetic and natural fiber products are available in various material types, finishes, deniers (fiber thickness) and colors and include recycled, virgin, hollow, gel, and siliconized polyester; and rayon, bamboo, kapok, and polypropylene.
Stein’s customers include numerous Fortune 500 companies that use the company’s products in a range of applications and in a variety of sectors including automotive, furniture, bedding, filtration, pet, home décor, and medical.
According to Stein Fibers, it is now one of the leading distributors of polyester fiberfill and nonwoven fibers in North America. The company is co-owned by Chip Stein and Peter Spitalny and is headquartered in Albany, New York.
“We could not be more excited to partner with Aterian as we proceed into Stein Fibers’ next phase of growth. We chose Aterian due to their focus on maintaining company culture developed over decades, commitment to an expedient process, and experience in partnering with family founders like us,” said Mr. Stein and Mr. Spitalny in a released statement. “We are confident that Aterian is the perfect partner to help us execute on our growth plan both organically and through M&A.”
“We are thrilled to partner with the talented Stein Fibers team to continue growing the leading supply chain solutions provider in the fiber industry,” said Michael Fieldstone, a co-founder and partner at Aterian. “Over its history, Stein Fibers has expertly navigated an ever-changing global supply chain environment while maintaining excellent customer service and quality.”
“The Stein Fibers platform represents yet another family-founder partnership that we have embarked on at Aterian,” said Daniel Krasnow, a principal at Aterian. “We look forward to partnering with Stein Fibers to support their organic and inorganic strategic growth plan and continue to be the partner of choice for other like-minded family founder businesses as well as global manufacturers.”
The acquisition of Stein Fibers is the fourth investment made by Aterian’s $834 million fourth fund, Aterian Investment Partners IV LP, which closed in October 2021 after just nine weeks of fundraising.
Aterian invests from $10 million to $100 million in middle-market businesses with $50 million to $750 million in revenue and $10 million to $50 million in EBITDA. The firm’s sectors of interest include industrials, niche manufacturing, chemicals, and material science, industrial services, business services, value-added distribution, consumer, and transportation and logistics. Aterian has offices in New York City and Coral Gables, Florida.
Aterian Investment Partners has acquired Stein Fibers, a manufacturer and distributor of synthetic and natural fiber products.
“We are thrilled to partner with the talented Stein Fibers team to continue growing the leading supply chain solutions provider in the fiber industry,” said Michael Fieldstone, a co-founder and partner at Aterian. “Over its history, Stein Fibers has expertly navigated an ever-changing global supply chain environment while maintaining excellent customer service and quality.”
“The Stein Fibers platform represents yet another family-founder partnership that we have embarked on at Aterian,” said Daniel Krasnow, a principal at Aterian. “We look forward to partnering with Stein Fibers to support their organic and inorganic strategic growth plan and continue to be the partner of choice for other like-minded family founder businesses as well as global manufacturers.”
