Aterian Investment Partners, a private investment firm, is pleased to announce the sale of Stewart Tubular Products, LLC to Pelican Energy Partners, a private equity firm focused on investing in power and energy focused businesses.
Stewart is an industry leading provider of mission critical threading services and precision manufacturer of tight tolerance downhole components for the oil & gas market. Since its founding in 1988, Stewart has been a pioneer in the industry, consistently maintaining its position as a core manufacturing partner to its blue-chip customer base.
Following Aterian’s acquisition of Stewart from the original founder in 2016, Aterian worked alongside management to facilitate strategic growth initiatives, invest in new production equipment, and implement an improved ERP system, among other initiatives to further position the business for growth. Stewart is well positioned to continue driving strong long-term growth as a leading supplier to its core blue-chip customer base across the entire oil and gas value chain.
“We would like to thank Aterian for their steadfast partnership and investment behind our growth, operating and organization plans to further Stewart as a leading manufacturing partnership to oil & gas companies across the U.S.,” said Eric Zare, CEO of Stewart Tubular Products. “We are excited to continue our success with Pelican and continue to provide best-in-class services for our customers.”
Brandon Bethea, Co-Founder and Partner at Aterian, stated, “It has been a privilege to work alongside the Stewart team for the past several years. We are extremely proud of the transformation the organization has achieved under our ownership and we are confident in its future trajectory. We wish the entire Stewart and Pelican teams well and for success in their journey forward.”
Jorge Fabre, Principal at Aterian added, “The success of our partnership with Stewart is a key example of the value creation that stems from Aterian’s approach to partnering with industry leaders and providing the support needed to facilitate execution of key initiatives.”
PPHB LP and Kirkland & Ellis LLP advised Stewart.
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 holistically supports organizations with a focus on strategic positioning, people, processes, equipment, technology, and product innovation, among others. With offices in New York and Florida, Aterian has raised cumulative equity commitments of more than $2.0 billion since its founding in 2009.
For more information, please visit http://www.aterianpartners.com
About Stewart Tubular Products
Headquartered in Houston, Texas, Stewart manufactures critical, quick-turn premium tubular accessories and threaded applications for downhole oil and gas completion activities. With key premium licenses and turnkey manufacturing capabilities, Stewart is able to service their customers’ quick-turn needs. The Company operates out of its state-of-the-art facility centrally located in the Gulf Coast region.
For more information, please visit http://www.stewarttubular.com/
