Home•News•Stewart Tubular Products has been acquired by an affiliate of Aterian Investment Partners
Stewart Tubular Products has been acquired by an affiliate of Aterian Investment Partners
HOUSTON, TEXAS (November 9, 2016) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Stewart Tubular Products (“Stewart” or the “Company”) has been acquired by an affiliate of Aterian Investment Partners (“Aterian”). The transaction was completed on November 2, 2016.
About Transaction Participants
Stewart Tubular Products is a leading manufacturer of critical, quick-turn premium tubular accessories and threaded applications for downhole oil and gas completion activities. The acquisition fits with Aterian’s investment approach of finding strong, market leading businesses with talented management teams which Aterian can support to accelerate growth. Founder Steve Samuel will continue as Stewart’s President. Other key management members will also remain with the business. “This transaction infuses new energy and business development experience into the company and is a critical step in Stewart’s continued development. Aterian has demonstrated a track record of investing in operations and growing businesses alongside management. Aterian’s support will allow Stewart to continue providing high quality products to our existing customers, as well as pursue additional business initiatives and service offerings,” Samuel said.
Founded in 1988, Stewart manufactures products which are mission-critical to the durability and performance of a well as evidenced by their requirements and applications in high complexity and high pressure drilling environments worldwide. Stewart deploys a collaborative, solutions-oriented service model often providing turnkey solutions to major integrated oil & gas companies, as well as companies that service them. Stewart has long been recognized for its reputation in providing the highest quality product with unmatched customer satisfaction. Stewart operates from a 127,000 sq. ft., state-of-the-art, tubular accessories manufacturing facility in northwest Houston.
Aterian Investment Partners invests in industry leading, middle-market businesses generating $25 – $500 million in revenues with strong, proven franchises. Aterian’s principals possess extensive experience investing in complicated and operationally intensive situations. Their deep transactional knowledge ranges from corporate carve-outs to restructuring to pioneering strategic investments that build and enhance value for all stakeholders.
Statesman Corporate Finance, LLC is a leading middle-market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition sell-side, buy-side, and general corporate financial advisory services to middle-market companies. The Statesman team managing this engagement was led by Managing Director Will Jaco and Associate Walker French.
Weil Gotshal & Manges, LLP, New York, NY, advised Aterian and Lee & Desenberg, PLLC, Houston, TX, advised Stewart.