October 30, 2023
Aterian Investment Partners Closes ~$460 Million Continuation Vehicle for Vander-Bend Manufacturing
New York, NY and Coral Gables, FL (October 30, 2023) — Aterian Investment Partners (“Aterian”), a middle market private equity firm focused on investing in industry-leading businesses poised for transformation, announces the closing of Aterian Opportunities II, LP, a new single asset continuation vehicle (“CV” or “Fund”) of approximately $460 million. With the closing of the CV, Aterian has now raised more than $2 billion of commitments across six different investment funds. The new Fund was formed to purchase Vander-Bend Manufacturing, Inc. (“Vander-Bend” or the “Company”) from Aterian Investment Partners II, LP (“Fund II”). In addition, the Fund provides an incremental $90 million of growth equity to support Vander-Bend as the Company continues to execute its strategic plan. The CV, managed by Aterian, will be anchored by funds managed by J.P. Morgan Global Alternatives, Hollyport Capital and Blackstone Strategic Partners as well as supported by new and returning limited partners. Aterian professionals, existing Fund II limited partners and Vander-Bend management rolled significant equity proceeds as part of the transaction. Aterian Investment Partners III, LP and Aterian Investment Partners III-A (collectively, “Fund III”) also invested.
Founded in 1979, Vander-Bend is a full-service partner specializing in complex precision manufacturing and assembly with differentiated engineering, prototyping support and quality systems. The Company primarily serves attractive medical technology end markets including robotic assisted surgery and radiation oncology among other high growth end markets. Vander-Bend provides capital equipment as well as consumables to a diversified set of industry participants from a nationwide nine site footprint.
The Aterian team commented: “We are excited to announce the closing of this new Fund. This CV allows us to continue our partnership with Vander-Bend and also provides a significant and attractive liquidity event to our Fund II investors. We are immensely grateful for the support received from both new and existing investors during this process. As a full team, we are incredibly motivated to continue executing alongside management and support Vander-Bend as it writes its next chapter.”
For Aterian, Jefferies LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel.
About Vander-Bend Manufacturing
Headquartered in San Jose, California, Vander-Bend specializes in innovative, high-quality design, prototype and full-scale manufacturing solutions serving fast growing medical technology end markets. For more than 40 years, the Company has been delivering high quality service to its customers, bolstered by highly automated, state-of-the-art manufacturing facilities across the United States.
For more information, please visit http://www.vander-bend.com
About Aterian Investment Partners
Aterian Investment Partners is a private equity firm that 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 others. With offices in New York and Florida, Aterian has raised cumulative equity commitments of more than $2 billion since its founding in 2009.
For more information, please visit http://www.aterianpartners.com