NEW YORK, NY and CORAL GABLES, Fla., June 3, 2021 /PRNewswire/ -- Aterian Investment Partners ("Aterian"), a private investment firm, through its joint venture Craft Work Capital Partners, LLC ("Craft Work"), is pleased to announce a strategic partnership with Coastal Mechanical Services, LLC ("Coastal", or the "Company"), through the Rogers Mechanical Contractors, LLC ("Rogers") platform. This represents Rogers' second add-on acquisition since Aterian and Craft Work's initial investment last September.
Tracing its roots back to 1985 and based in Melbourne, Florida, Coastal is a leading provider of HVAC / mechanical and plumbing contracting services in the state of Florida. Coastal is led by an experienced management team, with an excellent reputation for operational execution, in-house design, engineering, drafting, fabrication, installation, and service expertise. A management-owned business, Coastal has strategically evolved into a leading mechanical subcontractor in Florida with deep project experience across the healthcare, education, and aerospace & defense end-markets, amongst others.
Jeff Geiger, President of Coastal, stated, "We could not be more excited about partnering with Rogers management to build upon our collective growth plans. While we will continue to operate under the Coastal brand, we are excited about the opportunity to leverage best practices across our organizations to help better serve our customers. We are strong believers in the strategic growth plan that Craft Work and Aterian developed alongside Rogers, and we are thrilled to partner with such a high caliber team at Rogers and to execute on that vision."
Michael Fieldstone, Co-Founder & Partner at Aterian, commented, "We are excited to complement Rogers with a strong Florida presence, and the highly-skilled and cohesive team with the addition of Coastal. Combined, the businesses are leaders servicing the high-growth end markets of distribution centers, healthcare, and education. We look forward to supporting management's organic growth plan as well as executing on additional strategic acquisitions."
Daniel Phan, Principal at Aterian, added, "We are thrilled to have closed our second add-on to the Rogers platform since partnering with their team. We believe Jeff and his team will make a great addition to the Rogers platform as we continue to expand our footprint nationally."
Fifth Third Securities, Plante Moran PLLC, and Foley & Lardner LLP advised Coastal on the transaction. Neal, Gerber & Eisenberg LLP, CohnReznick LLP, and FMI Capital Advisors advised Aterian, Craft Work and Rogers.
About Aterian Investment Partners
Aterian Investment Partners manages over $700 million of committed capital and invests in industry-leading, middle market businesses. In collaboration with management, Aterian supports investments throughout an organization, from people to processes, equipment, technology, and social governance, among other areas.
For more information, please visit http://www.aterianpartners.com
About Craft Work Capital Partners, LLC
Craft Work Capital Partners, LLC is a specialized joint venture between Aterian and a long-standing family office relationship, established to make strategic investments in mechanical, electrical and other related specialty contractors. The Craft Work team is led by veteran strategic partners who have spent decades in the specialty contractor industry.
For more information, please visit http://www.craftworkcap.com
About Rogers Mechanical Contractors, LLC
Founded in 1962 and based in Villa Rica, Georgia, Rogers is a leading national provider of HVAC/mechanical and plumbing contracting services to the distribution center market. Rogers provides retrofit and new construction contracting services, in-house design, engineering and drafting expertise, and for industry-leading e-commerce and logistics customers nationwide.
For more information, please visit http://www.rmciga.com
About Coastal Mechanical Services, LLC
Tracing its roots back to 1985 and based in Melbourne, Florida, Coastal is a leading provider of HVAC / mechanical and plumbing contracting services to the healthcare, education, and aerospace & defense markets in Florida. Coastal provides its customers with a full suite of HVAC / mechanical and plumbing contract services including retrofit, new construction, design, drafting, and engineering.
For more information, please visit https://coastalmechanical.com/
SOURCE Aterian Investment Partners
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