Aterian Investment Partners, a middle market private equity firm with a focus on investments in businesses poised for transformation, has successfully closed Aterian Opportunities II, LP, a new single asset continuation vehicle (“CV” or “Fund”) with commitments totaling approximately $460 million. This achievement marks a significant milestone for Aterian, bringing the total raised capital across six distinct investment funds to more than $2 billion.
The primary purpose of this Fund is to facilitate the acquisition of Vander-Bend Manufacturing, Inc. (“Vander-Bend” or the “Company”) from Aterian Investment Partners II, LP (“Fund II”). In addition to the purchase, the Fund will supply an additional $90 million in growth equity to support Vander-Bend’s ongoing execution of its strategic plan. This CV will be managed by Aterian and will be supported by funds managed by notable entities such as J.P. Morgan Global Alternatives, Hollyport Capital, and Blackstone Strategic Partners, as well as new and returning limited partners. Equity contributions from Aterian professionals, existing Fund II limited partners, and Vander-Bend’s management were significant components of the transaction. Aterian Investment Partners III, LP and Aterian Investment Partners III-A (collectively, “Fund III”) also participated in the investment.
Founded in 1979, Vander-Bend specializes in full-service, precision manufacturing and assembly, offering differentiated engineering, prototyping support, and quality systems. The Company primarily caters to dynamic medical technology end markets, including robotic-assisted surgery and radiation oncology, among other rapidly growing segments. Vander-Bend serves a diverse clientele with capital equipment and consumables, operating across nine locations nationwide.
Aterian’s team expressed their enthusiasm about this development, emphasizing the opportunity for continued collaboration with Vander-Bend and acknowledging the significant liquidity event it represents for Fund II investors. They also expressed gratitude for the support of both new and existing investors, reaffirming their motivation to work closely with management in advancing Vander-Bend’s journey.
Jefferies LLC served as the financial advisor, while Kirkland & Ellis LLP acted as legal counsel for Aterian during this process.
About Vander-Bend Manufacturing
Based in San Jose, California, Vander-Bend specializes in innovative, high-quality design, prototype, and full-scale manufacturing solutions, serving rapidly expanding medical technology end markets. With over 40 years of experience, the Company is known for delivering high-quality services to its customers, leveraging highly automated, state-of-the-art manufacturing facilities located throughout the United States.
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