Aterian Investment Partners Acquires Stewart Tubular Products

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Nov 02, 2016, 02:46 ET

NEW YORK, Nov. 2, 2016 /PRNewswire/ -- Aterian Investment Partners ("Aterian"), a private equity firm, announces that one of its affiliates has acquired Stewart Tubular Products, Inc. ("Stewart", or the "Company").

Founded in 1988, Stewart is a leading manufacturer of critical, quick-turn premium tubular accessories and threaded applications for downhole oil and gas completion activities, providing the highest quality products and services in a timely fashion. Stewart's products are mission-critical to the durability and performance of a well, as evidenced by their requirements and applications in the highest pressure drilling environments. Stewart deploys a partnership-oriented service model often providing turnkey solutions to major integrated oil & gas companies as well as the companies that service them.

Brandon Bethea, Principal at Aterian, said, "Stewart has a long history of being a premier supplier to the oil & gas industry, providing high quality products that are used in the highest pressure and most complex drilling environments worldwide. Stewart's commitment and track record of excellent customer service and product quality is impressive. We look forward to working with Stewart to support their growth and strategic initiatives."

Steve Samuel, who will continue as President of Stewart, said, "This transaction infuses new energy and business development experience into the company and is a critical step in Stewart's continued development. Aterian has demonstrated a track record of investing in operations and growing businesses alongside management. Aterian's support will allow Stewart to continue providing high quality products to our existing customers, as well as pursue additional business initiatives and service offerings."

Statesman Corporate Finance advised the Seller on the transaction. Weil Gotshal & Manges LLP advised Aterian.

About Aterian Investment Partners

Aterian Investment Partners is an operationally-focused middle market private equity firm. The firm focuses on strategically viable businesses, with strong market positions, proven franchises and opportunities for performance enhancement at companies generating $25 million to $500 million of revenue. After making an investment, Aterian, in partnership with management, seeks to focus on the critical growth, investment, operational and liquidity initiatives of a business that will ultimately drive value creation.

For more information, please visit http://www.aterianpartners.com.

About Stewart Tubular Products

Headquartered in Houston, Texas, Stewart manufactures critical, quick-turn premium tubular accessories and threaded applications for downhole oil and gas completion activities. With key premium licenses and turnkey manufacturing capabilities, Stewart is able to service their customers' quick-turn needs. The Company operates out of its state-of-the-art facility centrally located in the Gulf Coast region.

For more information, please visit http://www.stewarttubular.com/.

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SOURCE Aterian Investment Partners