NEW YORK, Nov. 2, 2016 /PRNewswire/ -- Aterian Investment Partners ("Aterian"), a private equity firm, announces that one of its affiliates has acquired Stewart Tubular Products, Inc. ("Stewart", or the "Company").
Founded in 1988, Stewart is a leading manufacturer of critical, quick-turn premium tubular accessories and threaded applications for downhole oil and gas completion activities, providing the highest quality products and services in a timely fashion. Stewart's products are mission-critical to the durability and performance of a well, as evidenced by their requirements and applications in the highest pressure drilling environments. Stewart deploys a partnership-oriented service model often providing turnkey solutions to major integrated oil & gas companies as well as the companies that service them. Brandon Bethea, Principal at Aterian, said, "Stewart has a long history of being a premier supplier to the oil & gas industry, providing high quality products that are used in the highest pressure and most complex drilling environments worldwide. Stewart's commitment and track record of excellent customer service and product quality is impressive. We look forward to working with Stewart to support their growth and strategic initiatives." Steve Samuel, who will continue as President of Stewart, said, "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." Statesman Corporate Finance advised the Seller on the transaction. Weil Gotshal & Manges LLP advised Aterian.