New York, NY and Miami, FL (February 1, 2023) — Aterian Investment Partners (“Aterian”), a private investment firm, is pleased to announce the sale of NeoGraf Solutions, LLC (“NeoGraf” or the “Company”) to Edgewater Capital Partners (“Edgewater”), a private equity firm focused on investing in performance materials and service businesses.
NeoGraf is an industry leading designer, manufacturer, and application development company focused on specialty natural graphite products for a diverse set of end markets.
Following Aterian’s carveout acquisition of NeoGraf from GrafTech International Ltd. in 2017, Aterian worked alongside management to facilitate NeoGraf’s strategic commercial and operational transition from primarily serving consumer electronic applications to developing innovative, bespoke solutions that address fundamental needs within critical global mega trends including electric vehicles, renewable and alternative energy, insulation and flame retardant materials, among others. NeoGraf is well positioned to continue driving strong long-term growth as a critical supplier to its broad and diversified blue-chip OEM customer base in each of these transformational end markets.
“This transaction completes a highly successful partnership between NeoGraf and Aterian. We are grateful for Aterian’s confidence and support in our Company, team and strategy as we worked together to transform NeoGraf,” said Drew Walker, CEO of NeoGraf. “We look forward to continuing executing on our strategy with Edgewater and drive continued industry-leading solutions for our customers.”
Brandon Bethea, Co-Founder and Partner at Aterian, stated, “It has been a privilege to work with the NeoGraf team. It is not often you get to work with an organization with as lengthy, since the late 1800s to be precise, and proud an innovation record as this one. As we transition ownership to Edgewater, we are confident of NeoGraf’s positioning and future trajectory and grateful for our association with the business. We wish the entire NeoGraf team, as well as Edgewater, success in their journey forward from here.”
Joshua Ciampa, Managing Director at Aterian, added, “The success of our partnership with NeoGraf is a strong reflection of the operational intensity and value creation toolkit that Aterian approaches its investments with, and we are proud of completing the transformation of a carve-out that is poised for continued success in attractive markets. NeoGraf is also a great example of Aterian’s continued focus on chemicals and material science investments.”
BDA Partners and Kirkland & Ellis LLP advised NeoGraf.
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 $1.5 billion since its founding in 2009. www.aterianpartners.com
Headquartered in Lakewood, OH, NeoGraf is a technology leader in specialty graphite solutions and material science serving applications in electric vehicle, graphene & nanomaterials, alternative energy, electronic thermal management, industrial seals and gaskets in flow control, petrochemical, & nuclear applications, building & construction, and flame retardancy sectors. For more information about NeoGraf, visit www.neograf.com