Aterian Investment Partners Portfolio Company Bluewater Thermal Solutions Completes Sale of Nine Industrial Facilities to STORE Capital in Real Estate Portfolio Sale Leaseback Transaction

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Dec 16, 2013, 08:30 ET

NEW YORK, Dec. 16, 2013 /PRNewswire/ -- Aterian Investment Partners ("Aterian"), a private equity firm, announces that its portfolio company Bluewater Thermal Solutions ("Bluewater") completed the sale of nine industrial facilities to STORE Capital Corporation ("STORE"). The portfolio, totaling over 500,000 square feet, consisted of heat treating plants in Illinois, Michigan, Indiana, Pennsylvania and Ontario, Canada. In conjunction with the sale, Bluewater simultaneously entered into a long-term lease with STORE at each of the locations.

Bluewater is a leading provider of heat treating services and solutions to a number of North American manufacturing industries. The company provides a range of metallurgical heat-treating processes in which metal parts are exposed to precise temperatures, atmospheres, quenchants, and other conditions to improve their mechanical properties, durability, and wear resistance. Bluewater services over 2,000 unique customers in the automotive, heavy truck, aerospace, construction, agriculture and energy industries.

Isaac Chalal, Vice President of Aterian, stated "We are pleased to partner with the STORE team to consummate this transaction. Their thorough and efficient approach to understanding Bluewater's value proposition and the criticality of its services to the customer base convinced us that they would be a fantastic long-term partner for the company. This is the third sale leaseback transaction that Aterian has completed in the last twelve months and represents another example of Aterian's focus on driving significant cash generating initiatives on behalf of its portfolio companies."

"We are excited to partner with Aterian and provide our net lease financing solution to one of their portfolio companies, Bluewater Thermal Solutions," said Christopher Volk, CEO of STORE Capital. "STORE's ability to provide a tailored, flexible solution and act quickly enabled Bluewater to free up significant capital to accelerate several key growth initiatives. Aterian's responsiveness and commercial approach facilitated an expedient and certain transaction closing. We look forward to the mutual benefits of a long-term relationship with both Bluewater and Aterian."

About Aterian Investment Partners
Aterian Investment Partners is a private equity firm focused on providing capital to market leading small-to-middle businesses across a broad range of industries that represent unique situations, turnarounds, or otherwise are opportunities to collaborate with management to optimize profitability. Aterian targets businesses generating $25 million to $500 million in annual revenues with strong, proven franchises. Aterian's principals have extensive experience investing in complicated and operationally intensive situations including corporate carve-outs, restructurings both in and out of bankruptcy, and strategic investments necessary to build and enhance value for all stakeholders. Aterian will use its fund to invest in both control and non-control situations across the capital structure in addition to bridging the entire purchase price, thereby providing sellers the utmost speed and certainty of closing. For more information, please visit http://www.aterianpartners.com.

About STORE Capital Corporation ("STORE")
STORE Capital Corporation is the leader in middle market capital solutions, backed by funds managed by Oaktree Capital Management, L.P., together with other institutional shareholders. STORE's mission is to address the long-term capital needs of real estate intensive operating businesses throughout the United States. Through tailored real estate lease and mortgage financing solutions, STORE's aim is to create wealth for its customers by improving the capital efficiency of their businesses.

SOURCE Aterian Investment Partners