Aterian Investment Partners closes ~$460M continuation vehicle for Vander-Bend Manufacturing

NEW YORK and CORAL GABLES, FL, October 30, 2023 /PRNewswire/ — 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 approx 460 million dollars. With the closing of the CV, Aterian collected more than 2 billion dollars of commitments in six different investment funds. The new fund was created to purchase Vander-Bend Manufacturing, Inc. (“Vander-Bend” or the “Company”) by Aterian Investment Partners II, LP (“Fund II”). In addition, the Fund provides additional 90 million dollars growth capital 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 JP Morgan Global Alternatives, Hollyport Capital and Blackstone Strategic Partners, as well as supported by new and returning limited partners. Aterian professionals, Fund II’s existing limited partners and Vander-Bend’s management transferred 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, prototype 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 major equipment as well as consumables to a diverse array of industry participants from nine locations across the country.

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 for our investors in Fund II. We are extremely grateful for the support received from both new and existing investors throughout this process. As a complete team, we are incredibly motivated to continue to execute 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 advisor.

About Vander-Bend Manufacturing

Headquarters in San Jose, California, Vander-Bend specializes in innovative, high-quality design, prototyping and full-scale manufacturing solutions serving the rapidly evolving medical technology end markets. For more than 40 years, the company has provided high-quality services to its customers, supported by highly automated, state-of-the-art manufacturing facilities in United States.

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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 across the organization, from people to processes, equipment, technology and social management, among others. With offices in new York and FloridaAterian has raised cumulative equity commitments of more than 2 billion dollars since its founding in 2009.

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SOURCE Aterian Investment Partners

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